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Top Medical Devices and Imaging Technologies 2011 (Technical Insights)
Frost & Sullivan, March 2011, Pages: 129
This Frost & Sullivan research service titled Top Medical Devices and Imaging Technologies 2011 explores some of the high-impact medical device and imaging technologies that will bring a change to the medical environment in the next few years. The study also acknowledges the megatrends that will evolve and define the medical landscape in the near future. One part of the research discusses the technologies/products that are evolving rapidly with innovations to cater to a wide range of pathologies and environments; and the other part analyzes the medical imaging scenario, which is witnessing a spurt in innovations. In this research, Frost & Sullivan analysts thoroughly examine the following technologies: renewable and sustainable energy, remote patient monitoring, combination devices, and medical robotics.
Rapid Pace of Innovations and Improving Infrastructure in Emerging Countries Drives the growth of Medical Devices and Imaging Technologies
Healthcare Budget Cuts in Developed Countries Shift Industry Participants’ Focus to Developing Markets
The burgeoning medical imaging sector is witnessing numerous, rapid innovations, which has increased profits and thereby, improved the sector’s growth rates and attracted investments. Cyclically, the inflow of funds has led to the development of high-quality and high-tech medical instruments and equipment at affordable prices. So far, Brazil Russia, India, and China (BRIC) have demonstrated the highest willingness to deploy new medical device technologies. Medical device and imaging technology companies have directed their research and development efforts at creating low-cost, low-power, ergonomic medical devices that require little maintenance and have relatively low risk. New-age medical devices are expected to standardize medical infrastructure all over the world, so that the imbalance in the availability of quality medical treatment in developed and developing countries will be narrowed. “These medical devices will also be less invasive and easy to use, and will improve the quality of life at low costs,” says the analyst of this research. “However, developing countries still lack initiatives in optimizing medical technology and product delivery.”
Nothwithstanding that, developing countries, with their higher demand for healthcare services, are increasingly attracting the attention of the diagnostic imaging industry, which is one of the largest sectors of healthcare industry globally. While the developed markets of United States and Europe have been battling challenges arising out of shrinking hospital budgets and dwindling reimbursements, booming health economies and increasing awareness in emerging countries such as India and China in the Asia Pacific are offsetting this slowdown. “Consequently, the major focus in these regions is eventually going to be the construction of new hospitals in the public and private sectors and procurement of advanced imaging equipment over the decade,” notes the analyst. “On the other hand, the developed markets will be focusing on new technologies that are both efficient and cost effective for hospitals and healthcare providers facing a financial crunch.”
While industry majors still consider the United States and Europe key markets, they are also looking forward to exploring the potential of Brazil, India, China, and Mexico as investment hubs and revenue generators in the coming years. Frequent delays in product approval and market entry in developed countries, have led medical device firms to look for alternative geographical markets for gathering clinical data, obtaining new product approvals, and generating initial revenues. With a rise in this trend, the consumers of developed nations, who have long been the initial beneficiaries of the new medical technology innovations, may eventually end up being the late users. Europe has already become the prime market of entry for innovative technologies. By the end of the decade, emerging countries are more likely to witness prior product launches before being launched in the developed markets. Thus, the future of the global medical imaging industry looks promising in terms of low costs, higher throughput, and safety of upcoming technologies with increasing demand from emerging markets.
The following technologies are covered in this research:
- Renewable and sustainable energy
- Remote patient monitoring
- Combination devices
- Medical robotics
1. Executive Summary
2. Technology Snapshot
3. Impact Assessment and Trend Analysis
4. Application Scope
5. Technology Roadmap
6. Analyst Insights
7. Industry Players
9. Decision Support Database
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