+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Global Medical Devices Outlook, 2022

  • ID: 4234630
  • Report
  • March 2022
  • Region: Global
  • 61 Pages
  • Frost & Sullivan
Digital Efficiency Solutions for Operating Rooms and Competitive Intensity are Opening up New Growth Opportunities
As the healthcare sector adapts to the changes induced by the COVID-19 pandemic, the global medical devices industry is undergoing a major transformation in terms of business models, technology adoption, and care delivery approaches, among other areas. 2022 will prove to be another challenging year for medtech as uncertainties pertaining to COVID-19 variants and the resultant pauses in elective surgeries continue to plague the provider space. Supply chain challenges are likely to continue throughout the year, which will impact the availability of raw materials and finished devices and raise inflation.

All the major medtech manufacturers have predicted headwinds due to the healthcare workforce shortage (compounding the issue of medical device uptake), and this will be exacerbated by employee burnout, new waves and variants of the virus, rising case numbers, vaccine mandates, the Great Resignation, skyrocketing salaries for nurses, and the Great Retirement.

The digitalization of medical devices will continue, and OEMs are digitalizing their devices and operations (sales, marketing). This trend is also making a mark by pushing medtech to deliver value for providers and patients with devices and digital data. This is leading to the development of new business models such as platform approaches; however, it is also exposing medtech companies to more potential scrutiny in terms of cybersecurity risks. On the contrary, the adoption of minimally invasive surgery techniques, the rising adoption of surgical robots, and the gradual shift of some procedures to outpatient settings will continue to drive the uptake of some medical device categories, including consumables. Advancements in configuration and connectivity have spurred new types of robotic surgeries, wherein surgeons use remote surgery tools to implant a stimulation device into a Parkinson’s patient’s brain despite the patient being 1,000+ miles away.

Cardiology care is moving to a care continuum approach, which drove the acquisitions of solution providers by large OEMs in 2021. This will push the cardiac devices space to focus on pre- and post-therapy patient monitoring to ensure improved long-term outcomes. From a broader industry dynamics perspective, every stakeholder in the medtech space (including other healthcare sectors) predicts increased mergers and acquisitions within the industry. Moreover, a consolidation of healthcare providers is observed in some regions. Provider sector experts predict a few megamergers of health systems in the United States, including physician practice acquisitions; however (and more importantly) a drive to acquire assets and build a continuity of care model is being noticed, and this approach will be able to support all types of care delivery needs - from primary care to surgical care, delivered virtually, in retail settings, homes, urgent care centers, and ambulatory surgery centers (ASCs).

Bio-surveillance devices for infection prevention in hospitals and other healthcare facilities will see rising demand. Similar trends are likely to be observed for patient monitoring devices and remote patient monitoring equipment to deal with subsequent waves of COVID-19 (although the patient monitoring equipment is saturated, replacements might continue). Moreover, demand for innovative solutions for digital operating room management and efficiency will increase to meet surgical workflow needs and enable real-time communication and data sharing during surgery. As higher acuity cases gradually shift to ASCs, medtech OEMs will redesign their device portfolios to meet the specific needs of this care provider type. Women’s health is another high-growth segment due to the surge in women entrepreneurs, the emergence of women-led start-ups, and the growing number of women’s health initiatives, which will push the femtech industry to launch innovative solutions to address long-standing women's health and hygiene issues.
Note: Product cover images may vary from those shown

1. Strategic Imperatives
  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top Three Strategic Imperatives on the Medical Devices Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine™
2. Analysis Highlights
  • Analysis Highlights
  • Impact of the COVID-19 Pandemic on Regional Recovery
  • Top Predictions for 2022
3. Growth Environment
  • Market Segmentation
  • Growth Environment
4. Macroeconomic Factors
  • Global GDP Growth
  • 2022 Global GDP Growth Snapshot
  • Supply Chain Disruptions - Impact Analysis
  • Sustainability Initiatives - Impact Analysis
5. Revenue Trends, 2021
  • Revenue Forecast by Segment
  • Revenue Forecast by Segment - Medical Devices
  • Assumptions for Segment Forecast
  • Revenue Forecast by Region
6. Top 5 Predictions, 2022
7. Medical Devices Segment Outlook, 2022
  • Patient Monitoring Snapshot, 2021
  • Patient Monitoring - Companies to Watch
  • Orthopedics Snapshot, 2021
  • Orthopedics - Companies to Watch
  • Robotics Snapshot, 2021
  • Robotics - Companies to Watch
  • Cardiology Snapshot, 2021
  • Cardiology - Companies to Watch
  • Wound Care Snapshot, 2021
  • Wound Care - Companies to Watch
8. Growth Opportunity Universe
  • Growth Opportunity 1 - Digital OR Management and Efficiency Solutions to Address Surgical Workflow Needs
  • Growth Opportunity 2 - Medtech OEMs to Redesign Device Portfolios to Meet ASCs’ Specific Needs
  • Growth Opportunity 3 - Women-specific Medical Devices that go beyond Fertility and Pregnancy and Cater to Unaddressed Needs (pelvic health, menopause care)
9. Conclusions
  • Conclusions and Future Outlook
10. Next Steps
  • Your Next Steps
  • Why Now?
11. List of Exhibits
Note: Product cover images may vary from those shown