INDUSTRY REPORT
Industry sectors and manufacturing processes
Operating theatre ( image : Shutterstock . com .)
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 & 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 , micromoulding and assembly .
Diabetes devices : Continuous glucose monitoring ( CGM ) is a leading example of this sector . Key technologies include nanotechnology ; sensors and assembly .
Dental instruments & 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 .
Machined medical parts from Mazak machines .
citizens are all factors propelling the medical devices market forward ,” it told ISMR .
“ Expansion of the global market is a direct result of the rising number of technical developments that are bettering the quality of life for patients and the general public . In addition , the rising popularity of mobile platforms , as well as the expanding popularity of AI and 5G , will fuel the market ' s expansion ,” it added .
However , it warned , the high cost of medical equipment and the additional costs associated with professional maintenance training are expected to limit market expansion . The growth of the medical device market could be stunted by low reimbursement caps and an expensive product approval process .
“ Medical gadget manufacturers were severely impacted by the pandemic because the lockdown severely disrupted supplies . In light of the COVID-19 epidemic , the market for wearable medical devices is likely to be affected by the growing importance of telemedicine . As a result of social isolation , people avoided going out in public . Utilising telemedicine , doctors can treat patients at a distance , eliminating the potential for the transmission of infectious diseases . The expansion of telemedicine and the development of apps that
Stamped medical parts . include AI into its systems as a tool for medical staff have both
contributed to the expansion of the wearable medical devices industry ,” explained the analyst .
However , businesses reacted well to these constraints and within weeks had established a more resilient supply chain to meet demand for a wide range of medical supplies . The surge in the medical equipment industry can be largely attributed to the rising demand for ventilators , breathing systems , patient monitoring systems and imaging systems .
The analyst expects Europe to become the world ' s second-largest market for diagnostic products such as the spectroscope , microscope and chromatograph . The region ' s expanding market can be attributed to several factors , including the presence of large numbers of medical device manufacturing units , an improving economy and increased government funding for medical device development . Furthermore , as pharmaceutical companies experiment with new medicines , there is a rising need for medical equipment used to test the quality of products .
It also expects Asia-Pacific to be the fastest-growing regional market in the next few years , owing to increasing demand for healthcare products and an ageing population with health issues .