ISMR March 2021 - Page 27

Industry Sectors / Manufacturing Processes

INDUSTRY REPORT

The Bone Trephine shows what laser as a tool can do e . g . variable cutting angles and minimal radii for cut-outs of tubes and hollow parts .
Global market trends
According to analysis by Precedence Research in November 2020 , the global medical devices market is growing at a compound annual growth rate ( CAGR ) of 5.2 % during the forecast period 2020 to 2027 .
“ The increasing prevalence of chronic diseases , that include cancer and diabetes , is expected to contribute prominently to driving the medical devices market . As per the United Nations , the ratio of total deaths because of chronic diseases is expected to rise to around 70 %. The total burden of chronic diseases across the globe is expected to reach around 60 % by the end of 2030 . Limited physical activity , extended working hours and unhealthy food habits are the prominent cause for a significant increase in chronic diseases such as cancer and diabetes . Furthermore , unhealthy lifestyles and eating habits also attracts other types of critical diseases that are further expected to drive the demand for medical devices in the near future ,” said the analyst .
The analyst pointed out the rising trend for medical wearable devices , which is also anticipated to drive the demand for medical devices ’ over the next few years . The integration of Artificial Intelligence ( AI ) in the medical devices sector ( such as remote patient monitoring devices , wearable medical equipment and Electronic Health Records etc .) are also estimated to propel the penetration of medical devices in the daily life of consumers .
“ The rising trend for in-house health monitoring such as heart-beat , blood sugar level and many other tests are anticipated to boost market growth over the coming years ,” it added .
However , it also highlighted that the ‘ threat of data breaches and hacking of critical information through these devices is expected to hinder market growth ’.
According to Precedence Research , North America captured the largest revenue share of the market in 2019 and is anticipated to continue its dominance over the coming years because of its developed healthcare infrastructure . Asia Pacific emerged as the fastest growing region during the forecast period owing to a rising ageing population , increasing per capita income and growing health concerns .
“ The IVD device segment accounted for a value share of nearly 13 % in the 2019 owing to increasing prevalence of chronic disease and the need for precise and efficient testing kits for such diseases . Based on end user , hospitals & ambulatory surgical centres led the global medical devices market in 2019 due to increasing healthcare expenditure and rising development of healthcare infrastructure ,” added the analyst .
Welding of inlets : multiple seams are welded in a clamp during automatic welding . Hard-to-reach areas on this endoscope can be manually welded .
“ The medical devices industry seeks to be largely fragmented in nature because of the presence of large number of market players at both regional and global levels . These market players largely focus on product
Orthopaedics
Surgical instruments & technologies
Diagnostic apparatus
Cardiovascular devices
Diabetes devices
Dental instruments & technologies
Other segments development and enhancement ; merger & acquisition ; partnership ; collaboration and joint ventures with other technology providers to upgrade their existing product line or develop an advanced medical device to cater for consumers . These industry participants also focus on contracting with many distributors globally to expand their customer range along with their offerings ,” it concluded .
Metals and manufacturing
Typically metal , rather than plastic or other material , is chosen for applications that require the highest degree of strength and durability , especially when used for tools or as replacement joints which are subject to a lot of mechanical stress . Aside from purely mechanical performance , metal used in a healthcare environment must meet specific criteria that most other products do not . For example , they may need to be non-toxic in the presence of human tissue or fluids . Or , they might have to resist chemicals such as detergents and alcohols which are used for cleaning . And metal used for implants must be non-magnetic and non-corrosive , in addition to being non-toxic .
“ The medical devices industry seeks to be largely fragmented in nature because of the presence of large number of market players at both regional and global levels
Industry Sectors / Manufacturing Processes
This includes reconstructive devices ; spinal implants ; arthroscopy ; orthobiologicals ; hip implants and knee replacements . This sector utilises manufacturing processes such as machining , casting , grinding , polishing , metal injection moulding and rapid manufacturing .
One of the largest segments , this includes dilators ; sutures and surgical robotics . Key technologies include micromachining , surface treatments and materials .
Endoscopic devices ; ultrasound and magnetic resonance instruments are examples of this sector . Key technologies include imaging , IT and micromanufacturing .
This highly competitive sector includes pacemakers ; defibrillators and drug stents . Key technologies include power sources , micromoulding and assembly .
Continuous glucose monitoring ( CGM ) is a leading example of this sector . Key technologies include nanotechnology ; sensors and assembly .
Imaging equipment ; implants ; drills and instruments . Key technologies include machining , additive manufacturing and 3D imaging .
Spinal devices ; catheters ; syringes and hypodermic needles ; blood transfusion and IV equipment ; internal fixation devices ; neuromodulation devices and urology devices .
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