INDUSTRY REPORT
The medical device business model is also transforming with digital disruption
Industry sectors and manufacturing processes
Orthopaedics : 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 .
Surgical instruments and technologies : One of the largest segments , this includes dilators ; sutures and surgical robotics . Key technologies include micromachining , surface treatments and materials .
Diagnostic apparatus : Endoscopic devices ; ultrasound and magnetic resonance instruments are examples of this sector . Key technologies include imaging , IT and micromanufacturing .
Cardiovascular devices : This highly competitive sector includes pacemakers ; defibrillators and drug stents . Key technologies include power sources , micromolding and assembly .
Diabetes devices : Continuous glucose monitoring ( CGM ) is a leading example of this sector . Key technologies include nanotechnology ; sensors and assembly .
Dental instruments and technologies : Imaging equipment ; implants ; drills and instruments . Key technologies include machining , additive manufacturing and 3D imaging .
Other segments : Spinal devices ; catheters ; syringes and hypodermic needles ; blood transfusion and IV equipment ; internal fixation devices ; neuromodulation devices and urology devices .
■ Medical device integration : Medical devices ( such as glucose monitors , insulin delivery systems , nebulisers and oxygen concentrators ) are increasingly being used at home to diagnose and treat medical disorders . These devices are integrated with the patient ' s EMR , wearables , cell phones and telehealth platforms to provide critical insights for enhanced clinical and operational decision-making .
■ Blockchain technology : Studies show that 40 % of patients are willing to share their personal information when data is collected for medical research purposes . Digital ledger technology ( DLT ), more popularly known as blockchain , has improved the privacy of data sharing across a large network of device users and has gained traction across the medical device value chain .
■ Robotics : Robotic surgeries have gained momentum in recent years , with multiple new device launches and approvals . During the COVID-19 pandemic , using robots as a shielding layer helped physically isolate the healthcare worker ( HCW ) from the patient . This is an effective technique to combat the risk of contamination and maintain surgical volumes .
■ Additive manufacturing / 3D bioprinting : Additive manufacturing ( also known as 3D printing ) is expected to hit up to US $ 4 billion by 2027 . During the COVID-19 pandemic , 3D printing saw a surge in demand in healthcare , owing to supply chain disruptions and the need to produce more PPE kits , research material and medical devices to fight the disease .
Major challenges
However , there are also significant market restraints to growth in the medical device industry . These include both pre-market and postmarket clinical trials . Medical devices must comply with strict regulatory requirements to maintain productivity . As the COVID-19 pandemic
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