The dependency of the healthcare industry on medical devices has been long ongoing. Healthcare professionals are always looking for new innovative products that can transform the way they diagnose a patient
Fremont, CA: As the medical industry continues to enhance its technology and leverage groundbreaking technologies, there has been an increase in medical device usage. These devices can be used for various purposes and help medical experts monitor patient data and deliver more efficient results. Medical devices can range from simple tongue depressors and bedpans to sophisticated programmable pacemakers and closed-loop artificial pancreas systems. Also, in vitro diagnostics (IVD) products such as reagents, test kits, blood glucose meters, and certain radiation-emitting electronic products that serve a medical purpose, are considered medical devices.
The dependency of the healthcare industry on medical devices has been long ongoing. Healthcare professionals are always looking for new innovative products that can transform the way they diagnose a patient. Medical device manufacturers are now focusing on improving sensor technologies as well as the accuracy of data. Besides, the highly anticipated 5G network development is expected to help portability and miniaturization of electronics, enabling the design of more reliable and adaptable technologies.
The U.S. is geographically the largest medical device market globally, with a market worth USD 156 billion, representing 40 percent of the global medical devices market in 2017. According to data from SelectUSA Services, the medical devices market is expected to grow into a USD 208 billion industry by 2023.
Over the last few years, wearable devices have become an integral part of the healthcare industry. There is a wide range of wearables, including many used for medical purposes. Wearable devices offer innovative solutions to healthcare problems by enabling the continuous monitoring of human physical activities and behaviors, as well as physiological and biochemical parameters during daily life. Wearable devices are commonly used to measure vital signs such as heart rate, blood pressure, and body temperature, as well as blood oxygen saturation, posture, and physical activities through the use of electrocardiogram (ECG), ballistocardiogram (BCG) and other devices. These devices are designed to communicate with other devices such as smartphones, which are typically used to collect information and transmit it to a remote server for storage and analysis.