Medical treatment and diagnosis are reaching new heights with the augmented research and development activities observed by the healthcare industry. The ongoing global pandemic, COVID-19, is further predicted to drive the demand for the advanced medical device technologies.
Technological advancements in the medical industry have been key pivot for improving healthcare care
delivery. Over the past several decades, medical devices technologies have formed an integral role in
shaping patient care in hospitals and clinics. In recent years, medical devices technological innovation
has made a significant bearing on non-clinical care comprised mainly of home care.
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Integration of New Technologies in Modern Day Clinical Care Opens Up Abundant Prospects
A key factor that has catalysed advances for the medical devices technologies market is rise in venture
capitalists. The ecosystem of the medical devices technologies market has thus made strides on the back
of expanding avenue in medical device industry. The growing participation of patients, hospitals, and
physicians in the ecosystem has helped expand the size of the market valuation. A market survey on
medical device technologies has projected the valuation to expand at 4.6% CAGR during the forecast
Adopters have been attracted by the safety of new technologies in the medical sector. This is
particularly evident in the growing focus of OEMs and healthcare providers on patient safety.
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Increase in Disability-adjusted life years (DALYs) Spurs Medical Device Technologies Companies to
Chronic diseases and non-communicable diseases have grown in economic and health burden in various
populations worldwide. In particular, the healthcare system has been increasingly concerned about the
steady increase in disability-adjusted life years (DALYs). A large part of the trend can be ascribed to rise
in elderly populations, coupled with some remarkable advances in healthcare IT infrastructure in various
countries. The quality of life has been severely hampered by rise of chronic disease burden a