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Pipeline Analysis of Phase III Medical Diagnostic Devices: The Potential Game Changers and Growth Enablers

  • Report

  • 51 Pages
  • August 2020
  • Region: Global
  • Frost & Sullivan
  • ID: 5141720

Lightweight, Portable, Sensor and Artificial Intelligence-based Medical Devices Re-defining Diagnostic Scenario in Healthcare

This growth opportunity-technology (GO-TE) study identifies and analyzes some of the key developments in diagnostic medical devices across major therapeutic areas such as cardiology, neurology, and oncology. The research highlights the breakthrough diagnostic medical device technologies that are likely to be approved in the next 2-3 years.

These promising technologies are set to make a significant impact in the near future. Innovations such as sensor technology, lab-on-a-chip, artificial intelligence (AI)-based software, imaging technology, and novel biomarker-based diagnosis are in late-stage clinical trials. This report analyzes these innovative technologies and their unique value propositions.

The report identifies key growth opportunities of technologies, strategic imperatives, and market expansion strategies for Medtech companies in this space.

Table of Contents

1. Executive Summary
1.1 Scope of Research
1.2 Research Methodology
1.3 Sensor-based Medical Devices Capable of Improving Diagnosis Accuracy of Physicians Offer Huge Opportunity

2. Market Overview
2.1 The Innovative Idea Becomes Reality by Collaborative Efforts of Fuelers, Innovation Catalysts, Regulators, and Physicians
2.2 Development of Device Based on New Idea and its Validation is the Key Tasks Performed in Phase III Clinical Trial
2.3 Trial Design and Organization are the Key Differences in Clinical Trials for Drugs and Medical Devices
2.4 Remote Monitoring and Data Collection is the Key Driver for Phase III Diagnostic Medical Device Clinical Trials
2.5 MedTech Companies can Utilize AI for Remote Monitoring of Trial Participants that will Save Costs and Time for Them
2.6 The requirement for Trained Technicians is the Potential Challenge in Phase III Clinical Trials as it Increases the Overall Costs
2.7 Medical Device Innovation can Significantly Reduce Healthcare Costs by Enabling Timely Disease Diagnosis

3. Innovation Tracker - Cardiology
3.1 More than half of the American Population have at least One Risk Factor for Heart Disease
3.2 Medical Developments are Focusing on Lab-on-a-chip and Implantable Technologies for Diagnosis of Heart Complications
3.3 Analysis of Collected Data Through Artificial Intelligence is the New Trend Observed in Medical Device Development
3.4 MedTech Companies are Focusing on Miniaturization of the Device for Home-based Monitoring of Patients

4. Innovation Tracker - Neurology
4.1 More than 50 Million People are Affected by Epilepsy Worldwide
4.2 MedTech Companies are Focusing to Support Physicians by Offering Intelligent Algorithms for Accurate Diagnosis
4.3 Portable, Easy-to-use, and Home Monitoring Medical Devices are the Upcoming Trends for Diagnostic Medical Devices in Neurology

5. Innovation Tracker - Oncology
5.1 The US is Expected to Incur $174 Billion as Cancer Care Expenses till the End of 2020
5.2 MedTech Companies are Exploring Biomarker-based Diagnosis for Cancer Diseases
5.3 Medical Devices Under Development are Diagnosing Cancer Diseases based on Human Samples such as Blood

6. Companies to Action
6.1 Companies to Action - Cardiology
6.2 Companies to Action - Neurology
6.3 Companies to Action - Oncology

7. Growth Opportunities & Market Expansion Strategies
7.1 Advanced Medical Device Innovations, 2020
7.2 MedTech Companies can Offer Investment Supports to Technology Innovators Through Merger & Acquisition Strategy

8. Impact of COVID-19 on Clinical Trials for Medical Devices
8.1 MedTech Companies may have to Reconsider its Clinical Trial Strategy and Protocol due to COVID-19 Pandemic

9. Strategic Imperatives
9.1 The Strategic Imperative 8™
9.2 The Impact of the Top Three Strategic Imperatives on the Advanced Medical Device Industry

10. Key Contacts11. Next steps