London, 07 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Medical Technologies Market 2014-2018. The report analyzes the various trends that are emerging in this market. Moreover, it outlines the technologies for investigation, replacement, or modification of anatomy and physiology such as left ventricular assist devices, robotic-assisted surgery, diagnostic imaging services, cervical disc replacements, transcatheter valve replacements, intraocular lenses, renal denervation, mobile health, and molecular diagnostics.
Medical technology refers to the software solutions, medical devices, imaging, and diagnostic equipment used to ensure good health. The Global Medical Technologies market covers hospital hardware; technical aids for the disabled; reusable instruments; laboratory equipment; complementary therapy devices; healthcare facility products and adaptations; biologically derived devices; and technologies such as active implantable, anesthetic and respiratory, IVD, dental, electromechanical medical, non-active implantable, ophthalmic and optical, single use, and diagnostic and therapeutic radiation.
“Medical technology vendors are shifting toward developing economies as these countries offer large population groups as customers and clinical trial subjects,” says Faisal Ghaus, Vice President of TechNavio Research.
“Lenient regulatory guidelines, low manufacturing costs, skilled labor, and limited market competition are some of the incentives offered by these companies, which can decrease the overall development cost of the medical device and thereby increase the manufacturer’s profit.”
User-friendly Technologies
The emergence of user-friendly technologies permits frequent evaluation of these parameters without any assistance from a physician. Moreover, advancement in these technologies might significantly lower the healthcare expenditure by reducing the instances of over-dosage or under-dosage.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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