Medical Devices Industry News

The X-ray imaging systems category dominated the global market and generated revenue worth $15.2 billion in 2018, which is projected to reach $20.5 billion by 2024, progressing at a CAGR of 5.2% during the forecast period (2019–2024). Besides, the industry witnessed fastest growth in the category of nuclear imaging systems. The growth of this category is mainly driven by increasing prevalence of cancer, and rising demand for these systems across the globe. Furthermore, the market size for ultrasound systems, which stood at $5.9 billion in 2018, is expected to reach $8.3 billion by 2024, witnessing a CAGR of 6.0% during the forecast period. The governments across the globe are running awareness programs to educate people regarding early diagnosis of chronic diseases, especially breast cancer, lung cancer, cardiovascular diseases, diabetes, arthritis, and tuberculosis. Such initiatives are leading to increase in awareness regarding early diagnosis of diseases among healthcare ...

Global hospital bed market is forecasted to attain a size of $4.6 billion by 2023, according to P&S Market Research.The market is mainly driven by the increasing prevalence of chronic diseases, growing healthcare expenditure, surging aging population, and development of advanced hospital bed solutions. Based on the type of bed, the hospital bed market has been categorized into general, birthing, pediatric, pressure relief, and others. Of all types, the fastest growth during the forecast period in the global market is expected from general beds, with 5.8% CAGR, due to their low cost as compared to other beds. Based on treatment, the market has been categorized into acute care, critical care, and long-term care beds. During the forecast period, the hospital bed market for critical care is expected to grow the fastest among all types, with a CAGR of 6.0%. This growth is attributed to the fact that critical-care beds allow lateral tilting of patients, which helps in blood circula...

The global  aortic valve market  is forecasted to attain revenue of $13.6 billion by 2025, according to P&S Market Research. The market is mainly driven by increasing prevalence of valvular diseases, increasing demand for minimally invasive surgeries (MISs), rise in number of clinical trials for heart valves, and introduction of advanced implants. The different types of valves available in the aortic valve market are transcatheter valves, sutureless valves and others. Among these, transcatheter valves attained the largest share of 58.8% in the market, in 2017. This leading position of the category is attributed to increasing initiatives for research activities for developing transcatheter valves and increasing number of clinical trials to study transcatheter valves. For instance, In December 2017,   Edwards Lifesciences Corporation announced new data demonstrating the economic advantages of the company’s SAPIEN 3 transcatheter aortic valve. On the bas...

Transradial access devices are medical devices that are used to perform endovascular procedures such as intervention and/or catheterization by accessing transradial artery, to diagnose and treat arterial diseases such as, coronary artery disease, and peripheral artery disease. The global transradial market size is projected to grow at a decent rate during the next few years. Cost-benefit associated with transradial artery access, increasing preference of radial artery access for interventional procedures, increasing prevalence of chronic diseases, increasing number of chemotherapy procedures, growing use of radial access devices in geriatric as well as high risk patients, and rising healthcare expenditure are the key factors driving the growth of the transradial access market . Transradial access approach offers the advantages of relatively low cost and favorable clinical outcomes, in comparison to transfemoral intervention, and is expected to curb the increasing healthcare expense...