Medical Devices Industry News

The global medical marijuana market is expected to witness considerable growth during the forecast period on account of the rise in the number of countries legalizing the consumption of the drug for medicinal purposes and its potential application in the treatment of several chronic diseases. Increasing awareness among healthcare providers and individuals regarding the benefits of medicinal marijuana will also support the market growth in the future. Moreover, growing investments (by both private and public organizations) in research associated with the use of marijuana for medical purposes are expected to continue driving the market growth. Marijuana for medical purposes can be used in the form of buds, oils, and tinctures. Of these, the market for oil-based marijuana is expected to witness the fastest growth, globally, during the forecast period. Adequate dosage and proper route of administration of cannabinoids are the major areas of concern for healthcare providers. The heal...

In 2018, the global medical equipment maintenance market was valued at $16.1 billion, and it is expected to witness a CAGR of 8.7% during the forecast period (2019–2024). The presence of a stringent regulatory environment, rising awareness about preventive medical equipment maintenance, and advancements in the medical device industry are responsible for the growth of the market. Maintenance services, such as predictive, corrective, operational, and preventive maintenance of medical equipment, are offered for ensuring the safety and efficiency of the devices and minimizing failures. In terms of equipment type, the medical equipment maintenance market is divided into electrochemical, dental, imaging, surgical, and life support. The imaging division is predicted to grow at the highest CAGR of 9.2% during the forecast period. This is due to the extensive use of imaging equipment in disease diagnosis and treatment, because of which it requires regular maintenance. Imagine equipment ...