Global Medical Technology Market is Expected to Increase With a CAGR for the Study Period, 2021-2030.

To provide the global outlook of the Medical Technology market a new statistical study has added by Absolute Markets Insights to its massive database. This research report is an intelligence report which has been made by using primary and its subordinate techniques. During the analysis of the Medical Technology market, the existing industries, as well as upcoming startups, have been considered. It helps to make informed decisions in the businesses. The researchers used Porter’s five analysis and SWOT analysis in the report.

Digital technology has been instrumental in transforming the global medical technology market. Digital transformation coupled with innovation and research are expected to drive the global medical technology market. The advent of AI enabled solutions in the medical field, the cost of products and services is likely to come down, fighting the onslaught of these products. GE Healthcare that partnered with NVIDIA   has essentially integrated artificial intelligence technology to its 500,000 imaging devices, including the Revolution Frontier computed tomography (CT) system and ultrasound imaging devices, like the Vivid™ E95 and LOGIQ™ E10. This AI technology accelerates reconstruction and visualization of blood flow and improves 2D and 4D imaging for certain imaging solutions.

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In addition, it highlights on major industry players in global regions such as North America, Latin America, Asia-Pacific, Europe, and India. Various internal and external factors that help, which are responsible for fueling or restraining progress of the companies. Detailed information regarding the challenges faced by the industries and approaches adopted by them to overcome those threats has been included. This research report is useful for both existing and new companies in the market.

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Key Findings of the Report:

  • The global medical technology market has seen a technology breakthrough with the introduction of products like smart inhalers, robotic surgeries, 3D printing in creating implants and the increased use of health wearables and precision medicine in 2019. In, July 2019, Huami Corporation launched a GTR smartwatch in its Amazfit series that monitors heart rate, analyses sleep and tracks exercising supporting 12 sports modes.
  • In terms of revenue, the Asia–Pacific medtech market was valued at US$ 91.16 billion in 2018. The region is also expected to witness the highest CAGR over the forecast period followed by Latin America. The region has a huge scope with leading medtech companies bringing out innovative ways to cater to the healthcare needs of the people residing in the region. According to a survey recently undertaken, medtech companies are expected to grow at considerable pace, wherein, China, SEA, and India is expected to exhibit 15 percent,13 percent and 12 percent in less than a decade.
  • Key players operating in the medical technology market are Agfa-Gevaert Group, Ambu A/S, BD, bioMérieux SA, Boston Scientific Corporation, Coloplast Corp, Dentsply Sirona, Edwards Lifesciences Corporation, Essilor, General Electric Company, IBM Watson Health, Illumina, Inc., Institut Straumann AG, Intuitive Surgical, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Medtronic, Microsoft, Myriad Genetics, Inc., PathAI, inc., QIAGEN, Sanofi, Sartorius AG, Smith & Nephew, Sonova, Stryker, Thermo Fisher Scientific, Touch Surgery, Verily Life Sciences LLC, Zimmer Biomet. Additive Orthopedics, a medical technology company, created a custom 3D printed bone replacement. Boston Scientific Corporation’s MedSurg, will be launching Exalt-D Single-Use Duodenoscope, which will be duly used in ERCP procedures.

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Segmentation of the Medical Technology Market Report:

By Component

  • Hardware
  • Software
  • Services

By Application

  • Diagnostic Imaging
  • In-Vitro Diagnostics
    • Class A
    • Class B
    • Class C
    • Class D
  • Orthopedics
  • Wound Management
  • Dental
  • Drug Delivery
  • Cardiology
  • General and plastic Surgery
  • Ophthalmic
  • Others

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