MedTech vertical focuses on technologies that are transforming the healthcare ecosystem. This vertical encapsulates medical devices, products, instruments, machines, implants, and aids that are used to diagnose, monitor, treat, and prevent occurrence of diseases, mimic organ/function, and are usually governed/ certified for use /regulated by bodies such as U.S. FDA, European Medicines Agency.
The global neurostimulation devices market has been witnessing annual growth rate of approximately 13.14% in past three years (2015-2018), and the market is expected to continue to grow with the CAGR of 9.23% during the forecast period, 2019-2024.
The Latin America cell culture market has been witnessing a steady growth. The market is expected to continue to grow with a single digit CAGR of 6.20% during the forecast period, 2018-2025. Growing at the fastest CAGR of 6.48% during the forecast period of 2018-2025, the consumables segment is anticipated to generate a value of $811.5 million in 2025.
As of 2017, the global joint reconstruction market was estimated to be $16.82 billion and is expected to reach a value of $26.81 billion by the end of 2025, growing with a double digit CAGR during the forecast period.
The global ambulatory device market is expected to reach $17.55 billion by 2028.With the increasing demand for the technological advancements across various segments of the ambulatory devices, the ambulatory device market is expected to witness rapid growth in the future.
The global medical lighting technologies market is expected to account for $2.76 billion by 2026. Furthermore, as per the installation volume data, the total installation of surgical lighting systems is expected to grow at the CAGR of 5.2% during the forecast period, 2018-2025.
The global injectable drug delivery market was estimated at $16.73 billion in 2016 and is estimated to grow over $37.47 billion by 2025. The rise in the geriatric population along with the increased prevalence of chronic diseases is expected to boost the demand for the injectable drug delivery devices and drive growth of the global market.
The global electrosurgical devices market was estimated at $2.64 billion in 2016 and is anticipated to reach $4.33 billion by 2023. With the increasing demand for minimally invasive surgeries, increasing geriatric population with higher life expectancy, and new product launches by several conglomerate companies, the electrosurgical devices market is expected to witness moderate growth.
The global medical assistive technologies market is expected to grow over $24.41 Billion by 2025, driven by advancements in the field of the medical assistive technologies, growing disability and injury rate, increasing geriatric population, and rising demand of technologically advanced assistive devices.
The global drug infusion systems market was estimated to be $8.1 billion in 2016 and is estimated to grow over $14.7 billion by 2025. The rise in the geriatric population along with the increased prevalence of chronic diseases is expected to boost the demand for drug infusion systems and drive the global market towards rapid growth. The drug infusion systems market presents with opportunities to change the treatment options according to the needs of the patient.
The global next generation implants market is estimated to grow over $3.9 billion by 2023. On the other hand, the conventional implants market is estimated to grow over $103 billion in 2023. On the basis of application, the market is segmented into orthopedic, cardiovascular, dental, ocular and other implants.
The global healthcare RFID market is anticipated to reach $4.1 billion by 2021 growing at a CAGR of 21.64% during the forecast period between 2017-2021. The growth in RFID in healthcare market over the period 2017-2021 is expected to be primarily supplemented by factors such as increasing need of patient monitoring due to increasing geriatric population, advancement of product development and increasing support by government for adoption of RFID technology.
The global pacemakers and ICDs market are expected to grow at a CAGR of 4.6% and 4.8% from 2017 to 2023. The factors includes revenue growth by dual chamber ICDs and Leadless Pacemakers as well as MRI Compatible ICD devices.
The global Wound Cleansers Product market is growing at a CAGR of 5.4%. On the basis of wound type, the market has been segmented into acute wounds, non-acute surgical wounds, chronic wounds and others.
The global market for prefilled syringes is expected to grow at a CAGR of 10.75% from 2017 to 2021, to reach a value of $XX million in 2021. In terms of volume, the market for prefilled syringes is anticipated to reach 8320.6 million units in 2021, growing at a CAGR of 12.31% during the forecast period 2017 to 2021.
The global incidence rate of jet-lag is still unknown, but it impacts a high percentage of approximately 30 million plus jet travelers who leave the U.S. yearly for destinations that cross five or more time zones. Globally, jet lag affects more than 100 million people annually.