The medical device industry is driven by technological innovation and developments. New technological breakthroughs have transformed the process of patient care by reducing the recovery time and cost involved. Rising demand for minimally invasive or non-invasive medical technologies, drug-eluting stents are emerging in the medical devices market. Electroceuticals medicine and devices emerging as an alternative to drugs and medications. Electroceutical devices, which can be either implants or non-invasive, can read and modify electrical signals associated with a range of diseases like chronic pain, neurological diseases, psychiatric conditions and cardiology diseases.
The introduction of advanced technologies such as robotics and wearable devices have impacted the development of neurorehabilitation devices, which helps to recover from nervous system injury. The fastest growing application of neurorehabilitation devices is treatment of Parkinson’s disease. These devices include neurorobotic systems, non-invasive brain stimulators and brain-computer interfaces, out of which neurorobotic holds the largest market share.
Need for cost reduction and rising demand for novel medical devices have propelled the growth of medical device renting and outsourcing market. High end and technologically advanced medical devices, which are required only in certain situations, are preferred to be rented by many medical institutions and practitioners. Many companies also offer refurbished devices at an affordable cost. In addition, trend of outsourcing various operations such as product prototyping, designing, production and supply chain management is rising among medical device manufacturers.
ASDReport.com has an extensive collection of reports on general medical devices market. The reports provide market insights and technological updates related to various medical devices like, biofeedback instrument, pressure relief devices, and much more.