Global Medical Robotics Market

A medical robot is an expert service robot that refers to a type of multipurpose device used in and outside of hospitals to raise the standard of care provided to patients and it is employed in complicated surgical procedures, limb replacement, stroke patient rehabilitation, and other health-related duties. The medical robot is used in the medical sciences to help with surgeries, improve patient care and worker safety, and streamline clinical workflow and hospital logistics. The main types of medical robots are hospital and pharmacy robotic systems, surgical robotic systems, noninvasive radiosurgery robotic systems, rehabilitation robotic systems, and others. Hospital and pharmacy robotic systems refer to the robots used to distribute medicine to patients and to be involved in the automation of common tasks and processes performed in a pharmacy or other healthcare settings. The solutions include on-premises and cloud and are applied in cardiology, laparoscopy, pharmacy, neurosurgery, orthopedic surgery, and others used by various end-users such as specialty centers, hospitals and clinics, rehabilitation centers, and others. The medical robots market research report is one of a series of new reports from The Business Research Company that provides medical robots market statistics, including medical robots industry global market size, regional shares, competitors with a medical robots market share, detailed medical robots market segments, market trends and opportunities, and any further data you may need to thrive in the medical robots industry. This medical robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global medical robots market size grew from $11.17 billion in 2022 to $13.25 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The medical robots market size is expected to grow to $26.43 billion in 2027 at a CAGR of 18.9%. The rising demand for precise and proper laparoscopic operations is expected to propel the growth of the medical robot market going forward. The laparoscopic operation allows a surgeon to perform complex procedures within the abdomen without having to place his hands directly into the body cavity. Medical robots are more efficient at performing laparoscopic procedures. As a result, there is rising demand for precise and proper laparoscopic operations that boost market growth. For instance, in March 2022, the Cleveland Clinic, a US-based nonprofit academic medical centre, stated that over 13 million laparoscopic procedures have been performed globally every year and are projected to grow by 1% over the next five years. Therefore, the rising demand for precise and proper laparoscopic operations is driving the growth of the medical robot market. Technological advancements are a key trend gaining popularity in the medical robot market. Major companies operating in the medical robot market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Diligent Corporation, a US-based healthcare robotics company, created Moxi, an AI-enabled robot that can handle time-consuming logistical tasks in hospitals such as setting up patient rooms and replenishing supplies. Moxi is able to deliver teleboxes, manage the "do not tube" medications, and pick up patients' personal items. Moxi’s core technical features comprise social intelligence, mobile manipulation, and human-guided learning. This launch represents another step forward for Diligent’s product portfolio. In February 2021, Ascendum Capital, a China-based company specializing in healthcare-focused investment platforms, acquired EndoWays Ltd for an undisclosed amount. This acquisition would accelerate EndoWays clinical and commercial development, especially in China, by leveraging the experience and network of Ascendum's team. EndoWays Ltd is an Israel-based robotics company. The company features a software platform called the microcatheter which is designed to allow interventional radiologists to cross tortuous anatomy, and reduce procedure time and radiation exposure to patients and the medical staff. Major players in the medical robot market are Smith and Nephew PLC, Strikers, Aethon, Intuitive Surgical Inc., Major Robotics, Intouch Technologies Inc., Renishaw PLC., MedTech SA, Ekso Bionics Holdings Inc., ReWalk Robotics , Medrobotics Corporation, McKesson Corporation, Hocoma AG, Cyberdyne Inc., and BD Rowa. North America was the largest region in the medical robot market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical robot market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The medical robot market consists of sales of radiotherapy machine robots, laboratory robots, robotic prosthetics, and social robots. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical robots market is segmented - 1) By Type: Hospital and Pharmacy Robotic Systems, Surgical Robotic Systems, Noninvasive Radiosurgery Robotic Systems, Rehabilitation Robotic Systems, Other Types 2) By Solutions: On-Premises, Cloud 3) By Application: Cardiology, Laparoscopy, Pharmacy, Neurosurgery, Orthopedic Surgery, Other Applications 4) By End Users: Specialty Centers, Hospitals and Clinics, Rehabilitation Centers, Other End Users 

Medical electronics refers to the study of electronic tools and equipment used in medical diagnosis and treatment.It is used in a variety of medical procedures, including surgery, anesthetic management, therapy, research, and heart control, with the help of medical electronic instruments and equipment. The main components of medical electronics are sensors, batteries, displays, MPUs, or MCUs, and memory chips. A sensor refers to a device that responds to and detects some type of input from the physical environment. The various device classifications include class I, class II, and class III used in non-invasive, minimally invasive, and invasive medical procedures for medical imaging, clinical, diagnostic, and therapeutics, patient monitoring, flow measurement, cardiology, and other applications. The various end-user products include diagnostic and imaging devices; patient monitoring devices; medical implantable devices; ventilators; and RGM equipment. The medical electronics market research report is one of a series of new reports from The Business Research Company that provides medical electronics market statistics, including medical electronics industry global market size, regional shares, competitors with a medical electronics market share, detailed medical electronics market segments, market trends and opportunities, and any further data you may need to thrive in the medical electronics industry. This medical electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global medical electronics market size grew from $84.37 billion in 2022 to $97.18 billion in 2023 at a compound annual growth rate (CAGR) of 15.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The medical electronics market size is expected to grow to $169.75 billion in 2027 at a CAGR of 15.0%. The rise in the geriatric population and increasing life expectancy are expected to propel the growth of the medical electronics market going forward. The geriatric population refers to the elderly population aged 65 and above. Medical electronics help the geriatric population by supporting their health care needs to live longer, healthier lives. For instance, in October 2021, according to the report shared by the World Health Organization, a Switzerland-based specialised agency of the United Nations, the share of the population aged 60 years and over increased from 1 billion in 2020 to 1.4 billion. "And By 2050, the world’s population of aged people 60 years and older will double (2.1 billion). The population aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Therefore, the rise in the geriatric population and the growing probability of life extension are driving the growth of the medical electronics market. Innovations in medical electronics are a key trend gaining popularity in the medical electronics market. Major companies operating in the medical electronics market are developing new products to strengthen their position in the market. For instance, in November 2021, according to the FDA Center for Devices and Radiological Health, a branch of the United States Food and Drug Administration responsible for the premarket approval of all medical devices, CDRH Innovation is developing activities to support medical device innovators to increase patient access to innovative medical devices developed by small businesses and start-ups through its own Small Business Innovation Research (SBIR) grant program. It encourages domestic small businesses to engage in research and development with the potential for product commercialization. CDRH is partnering with various innovation groups and accelerators to support early-stage companies in the development of this medical device. In May 2022, Medtronic plc, a US-based medical device company, acquired Intersect ENT for an undisclosed amount. Through this acquisition, Medtronic is expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve postoperative outcomes and to treat nasal polyps, such as Intersect ENT's PROPEL and SINUVA (mometasone furoate) sinus implant product lines and technology, intellectual property, and Menlo Park, Calif., facility. Intersect ENT is a US-based medical device manufacturing company operating in the medical electronics market. Major players in the medical electronics market are Analog Devices Inc., Texas Instruments Incorporated, STMicroelectronics, Mouser Electronics, Cypress Semiconductor Corporation, Semiconductor Components Industries, Digi-Key Electronics, Tekscan Inc., First Sensor AG, General Electric Company, Vucomp, Hitachi High Technologies Corporation, Hologic Inc., TE Connectivity, and Boston Scientific Corporation. North America will be the largest region in the medical electronics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this medical electronics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical electronics market consists of revenues earned by entities by providing medical electronic services to design devices and measures that solve medical and health-related problems using knowledge of biology and medicine with engineering principles and practices. The market value includes the value of related goods sold by the service provider or included within the service offering. The medical electronics market also includes sales of medical electronics components such as semiconductors, amplifiers, transistors, transducers, anodes, and amplitudes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical electronics market is segmented - 1) By Component: Sensors, Batteries, Displays, MPUs or MCUs, Memory Chips 2) By Device Classification: Class I, Class II, Class III 3) By Medical Procedure: Non-Invasive, Minimally Invasive, Invasive 4) By Application: Medical Imaging, Clinical, Diagnostic, and Therapeutics, Patient Monitoring, Flow Measurement, Cardiology, Other Applications 5) By End User Products: Diagnostic and Imaging Devices, Patient Monitoring Devices, Medical Implantable Devices, Ventilators and RGM Equipment

Medical lasers are devices that treat or remove tissues using precisely focused light sources. The main types of medical lasers are solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. A solid-state laser system is a laser system that uses a gain medium as a solid instead of liquid, as in dye lasers and gas as in gas lasers. The applications involved are surgical, cosmetic, and dental. The end-users involved are ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. The medical lasers market research report is one of a series of new reports from The Business Research Company that provides medical lasers market statistics, including medical lasers industry global market size, regional shares, competitors with a medical lasers market share, detailed medical lasers market segments, market trends and opportunities, and any further data you may need to thrive in the medical lasers industry. This medical lasers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global medical lasers market grew from $5.56 billion in 2022 to $6.33 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical lasers market is expected to grow from $10.45 billion in 2027 at a CAGR of 13.3%. The increased demand for minimally invasive procedures contributed to the medical lasers market’s growth during the period. The surge in aesthetic and cosmetic procedures propelled the demand for minimally invasive surgeries worldwide. According to the article published by Beautynews in April 2021, the number of facial plastic surgery procedures in the USA in 2020 is approximately 56,084, and the one was the brow lift procedure is nearly 31,404. Thus, the high usage of medical lasers to perform minimally invasive aesthetic and cosmetic surgeries increases the demand for medical lasers. The high cost of surgeries limits the growth of the medical laser market. The high cost of treatments involving medical lasers limited the adoption and demand for lasers used to perform minimally invasive surgeries. For instance, the average cost of LASIK surgery performed in the USA was $1,500 per eye in 2021. Therefore, the high and increasing cost of surgeries is likely to act as a restraint to the growth of the medical lasers market. Major players operating in the market are focusing on developing new innovative products with advanced techniques to serve healthcare professionals and their patients better. For instance, in March 2021, Solta Medical, a division of Bausch Health, launched Clear + Brilliant Touch Laser. The new laser a more comprehensive treatment protocol by providing the benefits of two wavelengths and easing the treatment process. In October 2021, Laser MD Medspa, a US-based medical spa services company, acquired Young Medical Spa for an undisclosed amount. The acquisition would expand the company’s footprint in the state of Pennsylvania by adding four locations. Young Medical is a US-based provider of a full suite of cosmetic and aesthetic treatments, including laser hair removal, botox treatment, and others. Major players in the medical lasers market are El.En. S.p.A, Ellex Medical Lasers Ltd., Lumenis, Alcon Laboratories Inc., AngioDynamics Corp., American Medical Systems Inc., Biolase Inc., Bausch & Lomb Holdings, Cardiogenesis Corporation Inc., and Boston Scientific. North America was the largest region in the medical lasers market in 2022. Asia-Pacific was the second largest region in the global medical lasers market report. The regions covered in the global medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical lasers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The medical lasers market consists of sales of solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical lasers market is segmented - 1) By Product Type: Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems 2) By Application: Surgical, Cosmetic, Dental 3) By End Use: Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, Other End Users

Medical device contract manufacturing refers to a process where a Medtech company that owns the idea (sole proprietorship) outsources manufacturing to another medical device manufacturing firm. The medical device contract manufacturing is used for the benefits of cost optimization, device upgrade, regulatory guidance, or expansion. The main devices of medical device contract manufacturing are IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, endoscopy devices, ophthalmology devices, orthopaedic devices, dental devices, and other devices. IVD devices refer to medical devices that are in vitro diagnostic medical devices (IVD) that are used alone or in combination with other diagnostic products for in vitro use, apparatus, equipment, or systems. The services are device development and manufacturing services, quality management services, and assembly services. The applications involved laparoscopy, pulmonary, urology, gynecology, and other applications. The medical device contract manufacturing market research report is one of a series of new reports from The Business Research Company that provides medical device contract manufacturing market statistics, including medical device contract manufacturing industry global market size, regional shares, competitors with a medical device contract manufacturing market share, detailed medical device contract manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the medical device contract manufacturing industry. This medical device contract manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry. The global medical device contract manufacturing market size grew from $76.83 billion in 2022 to $87.04 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical device contract manufacturing market size is expected to grow to $141.27 billion in 2027 at a CAGR of 12.9%. The rising prevalence of chronic disorders is expected to propel the growth of the medical device contract manufacturing market going forward. Chronic diseases refer to conditions that require ongoing medical attention or limit activities. Smart medical devices help patients monitor their health conditions and better manage their chronic diseases. As a result, there is an increase in demand for medical device contract manufacturing. For instance, in 2020, according to the World Health Organization, a Switzerland-based government agency, chronic disease prevalence grew by 57% in the year 2020. Therefore, the rising prevalence of chronic disorders is driving the medical device contract manufacturing market. Technological innovations are the key trend gaining popularity in the medical device contract manufacturing market. Major companies operating in the medical device contract manufacturing market are focused on developing new technological solutions to strengthen their position. For instance, in December 2020, Forefront Medical Technology Pte Ltd., a Singapore-based company and medical device contract manufacturer, launched EzySwaba, a uniquely designed nasopharyngeal COVID-19 test swab. The EzySwab was developed to support the need for COVID-19 test swabs in the forefront of medical research in Singapore. This consists of the flexibility of biocompatible nylon for simple nasopharyngeal insertion and a safe breakpoint feature for rapid transfer to a sample collection tube. In August 2021, The Tecan Group, a Europe-based company provider of laboratory instruments and solutions in biopharmaceuticals, forensics, and clinical diagnostics, acquired Paramit Corporation and its affiliates ("Paramit") for an amount of $1.0 billion. This acquisition brings significant engineering as well as cost-competitive manufacturing capabilities, both in North America and in the APAC region for Tecan. Paramit Corporation is a US-based medical device contract manufacturing firm. Major players in the medical device contract manufacturing market are Benchmark Electronics Inc., Celestica International Lp., Consort Medical PLC, Flex Ltd., Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc., Nemera Development S.A., Nipro Corporation, Nortech Systems Inc., Phillips-Medisize Corporation, Plexus Corporation, Sanmina Corporation, Biofortuna Limited, Catalent Inc., Forefront Medical Technologies Pte Ltd., Invetech, and SteriPack Group Ltd North America will be the largest region in the medical device contract manufacturing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this medical device contract manufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical device contract manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical device contract manufacturing market includes revenues earned by entities by quality management system, ISO certified clean rooms, sterilization validation and recurring services, package design and testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical device contract manufacturing market is segmented - 1) By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices 2) By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service 3) By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications

Medical coding is the process of converting information related to one’s health diagnosis, treatment, procedures and other related information in to a universal medical alphanumeric code. The components of medical coding include in-house and outsourced. The in-house medical coding refers to the entire process of medical coding done in-house or within the company through coding software’s. In-house results in lower costs and is always effective to keep the coding under the same roof as resolving issues is faster when billing and coding problems come up. The classification systems used in medical coding include the international classification of diseases (ICDs), the healthcare common procedure coding system (HCPCS), and current procedural terminology (CPT). These medical coding solutions are services used in diagnostic centers and hospital & care providers. The medical coding market research report is one of a series of new reports from The Business Research Company that provides medical coding market statistics, including medical coding industry global market size, regional shares, competitors with a  medical coding market share, detailed medical coding market segments, market trends and opportunities, and any further data you may need to thrive in the medical coding industry. This medical coding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global medical coding market size grew from $15.71 billion in 2022 to $17.23 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical coding market size is expected to grow to $24.81 billion in 2027 at a CAGR of 9.5%. The rising need for a universal language in medical documents is expected to propel the growth of the medical coding market. The medical industry creates huge data that is difficult to organize manually without proper universal labels/names and difficult to refer to if there is a need to check the history of the patient. The process of conversion of medical records into universal medical alphanumeric codes to streamline hospital billing procedures is expected to aid in keeping medical data organized and for accurate billing reimbursement while also tracking the patient’s health for future complaints or treatment. This will automatically create demand for medical codes that help to organize medical data and streamline the processes reducing inefficiencies involved in recording data manually without universal codes. For instance, the International Classification of Diseases (ICD) maintained by the World Health Organization is used for information on human disease and death worldwide using the data reported and coded with the ICD. Furthermore, in December 2020, Shockwave Medical Inc., an American medical device company, announced the creation of four new codes for IVL procedures performed in the tibial and peroneal, or below-the-knee (BTK), arteries in the hospital outpatient setting. The use and creation of code that is universally accepted are driving the growth of the medical coding market. The increased adoption of artificial intelligence (AI) is a new trend gaining popularity in the medical coding market. AI is defined as the imitation of human intelligence in machines that are programmed to think like humans and mimic human actions. The adoption of artificial intelligence is expected to streamline medical billing workflows in addition to making the work of medical coders accurate and improving efficiency. The adoption holds more relevance considering the growing healthcare data and increased complexity. In addition, the medical coding will require fewer searches to find proper codes for unstructured data to relieve medical coding fatigue. For instance, in November 2020, Diagnoss, an American-based medical billing services startup, launched a coding assistant based on artificial intelligence to automate the medical coding and billing process and minimize coding errors. It is intended to provide real-time feedback to medical practices and improve clinicians’ accuracy. In September 2021, AGS Health, an American provider of revenue cycle management solutions for healthcare providers, acquired EZDI Inc for an undisclosed amount. The acquisition is expected to improve the process and lead to better outcomes with efficiency as EZDI’s technology is useful to predict appropriate medical codes and identify missed documentation. EZDI Inc is an American provider of integrated AI-based clinical documentation and medical coding platform. Major players in the medical coding market are 3M Company, AcerHealth Inc., Alpha Coding Experts LLC, Aveanna Healthcare LLC, EqualizeRCM Services, IBM Corporation, iMedX Inc., Infinx Healthcare, Nuance Communications Inc., Omega Healthcare Management Services Private Limited, Optum360, Oracle Corporation, Precyse Solutions LLC, QWay Health LLC, Vee Technologies Private Limited, Aviacode Inc., Maxim Health Information Services, MRA Health Information Services, Thrive Inc., Conifer Health Solutions, Humana, and Access Healthcare. North America was the largest region in the medical coding market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical coding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical coding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical coding market includes revenues earned by entities by providing services such as HCC Coding, Offshore coding audit, payer specific coding requirements, and code review services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced.It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical coding market is segmented - 1) By Component: In-house, Outsourced 2) By Classification System: International Classification of Diseases (ICDs), Healthcare Common Procedure Coding System (HCPCS), Current Procedural Terminology (CPT) 3) By End User: Diagnostic Centers, Hospitals & Care Providers

Medical radiation detection, monitoring, and safety equipment are designed for detecting and monitoring the intensity of radiation and also protecting the users from the harmful effects of radiation. The medical radiation detection, monitoring, and safety equipment are used for radiation monitoring and detection during medical procedures. The main types of medical radiation detection, monitoring, and safety products in the market are personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring products. Personal dosimeters refer to devices worn by an individual for a set period and sent to a facility that analyses the radiation dose. It can also be examined at the location. The various safety products include full-body protection, face protection, hand safety, and other medical radiation safety products. The various detectors are gas-filled detectors, scintillators, and solid-state detectors and are used in hospitals and non-hospitals. The medical radiation detection, monitoring, and safety market research report is one of a series of new reports from The Business Research Company that provides medical radiation detection, monitoring, and safety market statistics, including medical radiation detection, monitoring, and safety industry global market size, regional shares, competitors with medical radiation detection, monitoring, and safety market share, detailed medical radiation detection, monitoring, and safety market segments, market trends and opportunities, and any further data you may need to thrive in the medical radiation detection, monitoring, and safety industry. This medical radiation detection, monitoring, and safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global medical radiation detection, monitoring & safety market size grew from $1.69 billion in 2022 to $1.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical radiation detection, monitoring & safety market size is expected to grow to $2.5 billion in 2027 at a CAGR of 8.0%. The high prevalence of cancers is expected to propel the growth of the medical radiation detection, monitoring, and safety market going forward. Cancer is a disease condition where certain cells in the body multiply uncontrollably and spread to other parts of the body. As radiation therapy and nuclear medicine expose cancer patients to dangerous radioactive particles or radiation, medical radiation detection, monitoring, and safety equipment are used to protect the patient from harmful radiation and also detect and monitor the radiation levels. For instance, according to the World Health Organization, a Switzerland-based specialised agency of the United Nations responsible for international public health, in 2020, cancer accounted for approximately 10 million deaths, or about 1 person in every 6 people. Therefore, the high prevalence of cancers is driving the growth of the medical radiation detection, monitoring, and safety market. Research and development for technological advancement is a key trend gaining popularity in the medical radiation detection, monitoring, and safety market. Major companies are investing in R &D activities to develop new products and support innovation. For instance, Mirion Technologies, Inc., a US-based nuclear monitoring and detection systems provider, reported that R&D expenses were $29.4 million in the year 2021, an increase of $13.5 million, or 84.9%, over the year 2020. The increase in R&D spending of $2.5 million for new product development, such as evrCAM, a new product that leverages the company's core technology of radiation-tolerant cameras for the nuclear power industry, to fulfil the needs of the radiation oncology business. In January 2020, Mirion Technologies Inc., a US-based nuclear monitoring and detection systems provider, acquired Capintec Inc. for an undisclosed amount. This acquisition is expected to expand Mirion's footprint in the medical market by providing broader product and service offerings. Capintec Inc. is a US-based radiation measuring and monitoring instrumentation company with applications in nuclear medicine, nuclear cardiology, oncology, endocrinology, diagnostic radiology, and radiation therapy. Fortive, Mirion Technologies Inc., Thermo Fisher Scientific Inc., Ludlum Measurements Inc., Radiation Detection Company (RDC) Inc., Atomtex, IBA Worldwide, Scionix, RadComm Systems, Micron Semiconductor Ltd., Bar-ray Products Inc., Bertin Technologies SAS, Centronic Ltd., Fluke Biomedical, Burlington Medical, and AliMed Inc. are major players in the medical radiation detection, monitoring, and safety market. North America will be the largest region in the medical radiation detection, monitoring, and safety market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this medical radiation detection, monitoring, and safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical radiation detection, monitoring and safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical radiation detection, monitoring, and safety equipment market consists of sales of geigermueller (gm) detectors with pancake probes, alpha radiation survey meter, dose rate meter, and portal monitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical radiation detection monitoring and safety market is segmented - 1) By Medical Radiation Detection and Monitoring Product: Personal Dosimeters, Area Process Monitors, Environment Radiation Monitors, Surface Contamination Monitors, Radioactive Material Monitors, Other Medical Radiation Detection and Monitoring Product 2) By Safety: Full-body Protection, Face Protection, Hand Safety, Other Medical Radiation Safety Products 3) By Detector Type: Gas-Filled Detectors, Scintillators, Solid-State Detectors 4) By End User: Hospitals, Non-Hospitals

Medical equipment are devices that can be instrument, apparatus or machine that can be used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for health purpose. The main types of medical equipment are in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices, and wound care devices. In-vitro diagnostics are tests done on samples like blood or tissue that is taken from the human body. In-vitro diagnostics will detect diseases or other conditions and are used to monitor a person’s overall health to cure, treat, or prevent diseases. The type of expenditure involved is public and private. The various product are instruments/equipment and disposables. The various end users involved are hospitals and clinics, homecare, diagnostics centres, and others. The medical equipment market research report is one of a series of new reports from The Business Research Company that provides medical equipment market statistics, including medical equipment industry global market size, regional shares, competitors with a medical equipment market share, detailed medical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the medical equipment industry. This medical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global medical equipment market grew from $639.75 billion in 2022 to $695.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical equipment market is expected to grow to $922.39 billion in 2027 at a CAGR of 7.3%. The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. This is increasing the demand for medical devices used in the diagnosis, prognosis, and treatment of several diseases, thereby driving the demand for medical equipment. These factors are expected to increase the patient pool globally, thereby driving the market during the forecast period. Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These changes are related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes. For instance, according to cookieyed data 2021, in the US, PwC reported that 68% of 200 businesses surveyed intended to spend between $1 million and $10 million to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. Additionally, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts a strain on investments relating to new product development, thereby affecting the growth of the medical equipment market. Device performance and patient data are available to healthcare service providers and are helping them to improve patient monitoring and overall care quality. Some companies are integrating medical device data with EMR (Electronic Medical Records) to improve transparency and collaboration. As consumer wearables are becoming more common, patient data volumes are increasing and companies are investing in deploying data management, warehousing, and security technologies. For example, Medtronic launched a tool to augment their cardiac devices to securely transfer device data to doctors and allow them to monitor the critical health indicators of their patients. Major companies in the medical equipment market include Medtronic Inc., Abbott Laboratories, Johnson & Johnson, Cardinal Health, Inc., Becton Dickinson, Siemens AG, STRYKER CORPORATION, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., and Boston Scientific Corporation. North America was the largest region in the global medical equipment market in 2022. Asia-Pacific was the second largest region in the global medical equipment market. The regions covered in the medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The medical equipment market consists of sales of devices used in the diagnosis, treatment and monitoring of medical conditions. The market includes diagnostic devices, imaging devices, surgical devices and patient monitoring devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical equipment market is segmented - 1) By Type: In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Hospital Supplies, Surgical Equipment, Orthopedic Devices, Patient Monitoring Devices, Diabetes Care Devices, Nephrology And Urology Devices, ENT Devices, Anesthesia And Respiratory Devices, Neurology Devices, Wound Care Devices 2) By Type of Expenditure: Public, Private 3) By Product: Instruments/Equipment, Disposables 4) By End User: Hospitals And Clinics, Homecare, Diagnostics Centers, Other End Users Subsegments Covered: Point-of-Care Diagnostics Devices And Equipment, Immunochemistry Diagnostic Devices And Equipment, Clinical Chemistry Diagnostics Devices And Equipment, Molecular Diagnostics Devices And Equipment, Microbiology Diagnostic Devices And Equipment, Hemostasis Diagnostic Devices And Equipment, Hematology Diagnostic Devices And Equipment, Immunohematology Diagnostic Devices And Equipment, Therapeutic Dental Equipment, General Dental Devices And Equipment, Dental Diagnostic Imaging Devices And Equipment, Dental Surgical Devices And Equipment, Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment, X-Ray Systems Devices And Equipment, Ultrasound Systems Devices And Equipment, Computed Tomography (CT) Scanners Devices And Equipment, Magnetic Resonance Imaging Systems Devices And Equipment, Cardiovascular Monitoring And Diagnostic Devices And Equipment, Nuclear Imaging Devices And Equipment, Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment, Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment, Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment, Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics, Orthopedic Accessories,, Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment, Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters, Dialysis Devices And Equipment, Urinary Stone Treatment Devices And Equipment, Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment, Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment, Endoscopy Devices And Equipment, Hearing Aid Devices And Equipment, Hearing Diagnostic Devices And Equipment, ENT Surgical Devices And Equipment, Hearing Implants, Voice Prosthesis Devices And Equipment, Nasal Splints, Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables, Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices, Traditional Adhesive Dressings, Negative-pressure Wound Therapy (NPWT), Traditional Gauze Dressings, Advanced Wound Care Devices

A machine is an equipment with several moving parts that are mechanically, electrically, or electronically operated to perform a specific task. The main types of machinery are automatic and semi-automatic. Automatic machinery refers to machinery that works automatically without human intervention. The specificities are small, medium, and large. The various applications are automotive, precision engineering, transport, and other applications. The machinery market research report is one of a series of new reports from The Business Research Company that provides machinery market statistics, including machinery industry global market size, regional shares, competitors with a machinery market share, detailed machinery market segments, market trends, and opportunities, and any further data you may need to thrive in the machinery industry. This machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global machinery market grew from $3,542.77 billion in 2022 to $3,810.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The machinery market is expected to grow to $4,928.07 billion in 2027 at a CAGR of 6.6%. Rapid advances in technology are expected to drive innovation in machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolios and enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, and central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the machinery manufacturing market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. HVAC systems are being integrated with building automation systems for the overall management of a building to maximize energy efficiency. BAS receives analog or digital inputs from the sensors installed in HVAC and the integrated system is managed by a single dashboard accessed from a computer. These integrated systems improve building performance, save energy, and shrink the environmental footprint. HVAC systems account for 60-70% of the total energy consumption of a typical commercial building, thus integrated systems enable commercial establishments to reduce power consumption. For example, advanced BAS technology integrates lighting, water, elevators, security, and HVAC systems into a single automated platform. An integrated lighting and HVAC system automatically controls the lighting and temperature to ideal levels, thus reducing energy consumption and costs. GE and Trane are offering solutions that integrate HVAC with BAS. Major companies in the machinery market include Caterpillar Inc., Deere & Company, Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Komatsu Ltd., Johnson Controls International plc, Gree Electric Appliances Inc., Midea Group co Ltd., Canon Inc., and Tetra Laval International S.A. The Asia-Pacific was the largest region in the machinery market in 2022. Western Europe was the second largest region in the machinery market. The regions covered in the this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The machinery market consists of sales of industrial and commercial machinery such as farm machinery and equipment, construction machinery, oil and gas field and underground mining machinery and equipment, food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), printing and binding machinery and equipment, photographic and photocopying equipment, automatic vending machinery, commercial laundry and dry-cleaning machinery, office machinery, automotive maintenance equipment (except mechanics' hand tools), commercial-type cooking equipment and machinery for making paper products, textiles, plastic products, rubber products and optical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. the value of goods in this market includes related services sold by the creators of the goods. The machinery market is segmented into agriculture, construction, and mining machinery; industrial machinery; commercial and service industry machinery; ventilation, heating, air-conditioning, and commercial refrigeration equipment; metalworking machinery; engine, turbine, and power transmission equipment; and other general purpose machinery. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global machinery market is segmented - 1) By Type: Automatic, Semi-Automatic 2) By Capacity: Small, Medium, Large 3) By Application: Automotive, Precision Engineering, Transport, Other Applications Subsegments Covered: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery, Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Commercial And Service Industry Machinery, Photographic And Photocopying Equipment, Optical Instrument And Lens, HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces), Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory, Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear