Medical Equipment Industry Overview

Medical Sensors Market Characteristics

The medical sensors market consists of manufacturers’ sales of sensors that are used in medical equipment and that convert various forms of stimuli such as biological, chemical and physical signals produced by the body into electrical signals for analysis. This report describes and evaluates the global medical sensors market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2023, the forecast period. The medical sensors market consists of manufacturers’ sales of sensors that are used in medical equipment and that convert various forms of stimuli such as biological, chemical and physical signals produced by the body into electrical signals for analysis.

This report describes and evaluates the global patient monitoring devices market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.

Patient Monitoring Devices Market Characteristics

The patient monitoring devices market (or patient monitoring equipment market – the two terms are interchangeable) consists of the sales of patient monitoring devices and related services by entities (organizations, sole traders and partnerships) that manufacture patient monitoring devices used in monitoring vital health parameters.

Blood Glucose Strips Market Characteristics

The blood glucose strips market includes establishments involved in manufacturing test strips used for blood sugar level measurement. Blood glucose test strips are thin paper or plastic strips that are used to monitor blood glucose levels to help control diabetes. Diabetes is a chronic condition in which a person’s blood glucose level is excessively high according to medical standards. Diabetes is further diagnosed through various tests such as oral glucose tolerance tests (OGTT), random plasma glucose tests, and fasting plasma glucose tests.

Major Orthopedic Joint Replacement Implants Market Characteristics

The major orthopedic joint replacement implants market includes implants used in knee and hip replacement surgical procedures. Knee and hip joints are affected by common disease conditions such as rheumatoid arthritis, osteoarthritis, post-traumatic arthritis, injuries, and obesity. The growing prevalence of these disease conditions have led to increases in knee and hip joint replacement surgeries. The global major orthopedic joint replacement implants market was valued at nearly $16.6 billion in 2017. This can be attributed to ageing populations and high prevalence of obesity, arthritis, and trauma. The global major orthopedic joint replacement implants market is expected to grow from nearly $16.6 billion in 2017 to $20.1 billion in 2022 at a CAGR of about 3%. Growth of the market will be driven by an increasing geriatric population, rising prevalence of chronic diseases such as obesity and arthritis, and increasing awareness about the importance of joint replacement surgeries. The market will be negatively affected by a shortage of skilled workers and the growing usage of novel and alternative therapies for end-stage arthritis. Government initiatives to expand healthcare insurance and funding to promote the medical devices industry will boost the market globally. Developing economies such as China, India, and Brazil are attracting foreign direct investments (FDIs) as a result of globalization and economic growth. Robotics and 3D printing technology are gaining traction with major companies such as Stryker and Smith & Nephew that employ these technologies to provide customized surgical options to surgeons and patients.

Wearable Medical Devices Market Characteristics

Wearable medical devices are small electronic products, often consisting of one or more sensors, and having computational capability. They are embedded into items that are attach to the body parts, such as head, feet, arms, wrists and waist. They can resemble a watch, eyeglasses, some clothing, contact lenses, shoes or even jeweler. Wearable medical devices can be generally divided based on consumer or non-consumer applications. These two categories can be further segmented based on the particular sector the product targets. Straps and headbands are the most common application areas of wearable medical devices. The increasing demand for devices in the remote patient monitoring devices and home healthcare industries is expected to propel the demand for wearable medical devices. Furthermore, increasing focus on fitness, growing awareness among the population, rise in base of aging population, and a healthy lifestyle orientation are also expected to impact the wearable medical devices market.

In-Vitro Diagnostics Market Characteristics

The in-vitro diagnostics devices (or) equipment manufacturing market consists of sales of in-vitro diagnostic equipment and related services by entities (organizations, sole traders and partnerships) that produce in-vitro diagnostics. This industry includes establishments that produce diagnostic devices used in microbiological diagnosis, hematological diagnosis, molecular diagnosis, point of care diagnosis and others.

Dental Equipment And Supplies Market Characteristics

The Dental Equipment And Supplies market consist of sales of Dental Equipment And Supplies and related services by entities (organizations, sole traders and partnerships) that produce Dental Equipment And Supplies and supplies. This industry includes establishments that produce devices such as therapeutic dental equipment, general dental equipment, dental diagnostic imaging equipment and dental surgical equipment.

Ophthalmic Devices Market Characteristics

The ophthalmic devices (or) equipment supplies market consists of sales of ophthalmic devices and related services by entities (organizations, sole traders and partnerships) that produce ophthalmic devices used in the diagnosis and treatment of eye related diseases. This industry includes establishments that produce vision care devices, cataract surgery devices, refractive surgery devices, diagnostic and monitoring ophthalmic devices used in conditions such as eye infections, cataract, glaucoma, retinal detachment and other medical conditions.