The new 2013 Frost & Sullivan outlook study provides projections for the global medical devices market. The Research identifies market sectors and sub-sectors poised for expansion; discusses key opportunities in emerging markets; identifies the four Rs in the medical device spectrum; and covers strategies for success in the new market paradigm.
Home care, structural heart, robotic assistance, infection control tools, and neuro devices were identified as the top five growth sectors in the medical device market.
2013 embarks the beginning of a new era in the medical device industry more sensitive to the value of care. Due to increasing pricing pressure, profitability will rely heavily on developing a streamlined market strategy to effectively position product offerings for value -conscious consumers. Patient influence will play a greater role in treatment selection due to increasing access to information and greater shifts in financial burdens.
2013 Frost & Sullivan outlook study identified the following top 5 technology trends in the medical devices market:
1. Interoperability
The rise of new technologies capable of integrating medical devices into a connected platform enhances the functionality of devices, reduces man power burden, and minimizes errors.
2. Multi-functional
Due to price sensitivity and availability of floor space, highly-specialized pieces of equipment are losing out in purchase decision making to versatile systems capable of addressing multiple needs.
3. Big Data
The amount of health care data being captured due to recent IT infrastructure upgrades is expected to greatly enhance ‘smart’ and AI functionality for diagnostic and treatment devices.
4. Low-cost Alternates
Cost-containment initiatives are spurring new types of innovation in medical technologies that provide comparable diagnostic and therapeutic utility at fractions of the cost.
5. Nano-technology
Nanotechnology provides the benefits of biocompatibility and functionality at an unparalleled scale, allowing it to be better able to influence diseases happening at a cellular level.
For more information on the report, visit http://www.reportlinker.com/p01557925/2013-Global-Medical-Devices-Outlook.html
Featured image credit: MAURO CATEB via cc
