Medical devices market is continuously growing due to the technological advancements and increasing healthcare issues. Medical devices vary according to their complexities and applications. Few of such devices are pacemakers, insulin pumps, operating room monitors, defibrillators, surgical instruments etc.

Industry Outlook

The medical device industry consists of products used in the treatment of patients, including cardiovascular devices, dental equipment, diagnostic devices, medical equipment and supplies, ophthalmic devices, orthopedic devices, respiratory devices and surgical equipment.

Medical devices market is continuously growing due to the technological advancements and increasing healthcare issues. Medical devices vary according to their complexities and applications. Few of such devices are pacemakers, insulin pumps, operating room monitors, defibrillators, surgical instruments etc.

The entire industry is growing largely because of an ageing global population and an increase in societal risk factors. Particularly, diet-related chronic diseases, such as cardiovascular disease and diabetes, continue to create demand for medical healthcare services. According to a US report on ageing, by the 2050s, life expectancy at birth will reach 80 years for almost 60% of the global female population. This ageing population, along with lifestyle-related disease, is the medical device industry’s assurance of increasing market demand.

Issues in Medical Devices

Medical devices such as pacemakers, insulin pumps, operating room monitors, defibrillators, and surgical instruments, can incorporate the ability to transmit vital health information from a patient's body to medical professionals. Some of these devices can be remotely controlled. This has become a major concern in privacy and security issues around human error and technical glitches with this technology. 

Medical Devices Industry Current Trends

• The global medical device, technology and equipment market is forecast to be worth over US$348.6 billion by 2016 as per Espicom.
• The U.S. patient monitoring device and equipment market is expected to exceed $4 billion by 2018. as per  iData
• UAE Medical devices market is to grow at a CAGR of around 11% during 2011-2014  as per RNCOS
• Asian Medical Devices Market at $71 Billion by 2015 as per  Espicom
• Western European medical devices market will grow by US$24.1 billion over the next five years to US$82.4 billion, as per Espicom

Major Players in Medical Devices Industry 

Some of the top players in the Medical Devices Industry are : Johnson and Johnson , GE Healthcare, Medtronic, Baxter International, Cardinal Health, Tyco Healthcare, Siemens Medical Solutions, Philips Medical Systems, Boston Scientific, Stryker, B. Braun, Guidant Corp.,3M Healthcare, Zimmer Holdings, Becton, Dickinson & Co., St. Jude Medical, Kodak Health Group, Hospira  ,Fresenius, Smith & Nephew, Synthes, Alcon, Biomet, C. R. Bard, Terumo, Dentsply International, Invacare, Gambro, Dräger Medical, Varian Medical etc.