Medical Devices Market Trends

Key Emerging Trends in the Medical Devices Market

The trend of caring for people at home instead of hospitals is causing more people to need portable medical devices. A lot more individuals are facing long-term health issues, and treating them in hospitals costs a lot of money. For example, treating foot sores in the U.S. can cost between $13 billion and $15 billion every year, as shared by the Centers for Disease Control and Prevention (CDC). Health organizations are trying to encourage more people to get care at home, so companies are working hard to create better medical tools. These tools include special beds and devices that help with everyday tasks. They're designing these devices so that patients can use them easily at home without needing a doctor's help. Technology is getting better and it's helping medical devices improve too. New technologies like video calls with doctors, better medicines, and gadgets that check your health signs are being developed. Many companies are focused on making medical tools using this new technology to help diagnose and treat illnesses. For example, in 2021, a company named Dozee made "Dozee Pro," a machine that watches over patients in hospitals without needing someone nearby all the time. This device turns a regular bed into a special one and helps keep an eye on patients, even when they're not in intensive care. Additionally, in some countries, the government is making decisions to lower the prices of medical tools, making more people interested in them. The increase in long-term health issues, like diabetes, cancer, kidney problems, and other serious diseases, is making more people want medical devices. For instance, the CDC reports that about 5.5 million adults in the U.S. were diagnosed with liver disease in 2021. Also, the International Diabetes Federation says that in 2021, around 537 million adults between 20 and 79 years old had diabetes, and this number might increase to 783 million by 2045. In India, arthritis is affecting about 4-6% of adults and is one of the top five long-term health problems. Moreover, by 2025, around 80% of people in India aged 65 and above might have issues with their joints. As more tests, treatments, and ways to keep track of these diseases are needed, the demand for medical devices keeps growing.