NEW YORK, May 28, 2015 /PRNewswire/ -- Scope
This research service identifies ten technologies that are expected to have a big impact on the medical device and imaging industry in 2015. This list includes technologies that are just seeing the light of commercialization, as well as those technologies that are already in the market, but are expected to make an impact through wide-spread adoption. Each of the technology profiles covers the following: Brief technology snapshot, breadth of applications, key innovations and innovators, projected market growth over the short and medium terms, recent funding and business deals, important market factors aiding and hindering growth.
A common thread that connects these ten medical device innovations is that they leverage technologies from industries such as electronics, sensors, material sciences and information and communications. Medical devices present ample opportunities for convergence of diverse technologies.
It has been observed that medical device innovations take a considerable amount time for commercialization, and once commercialized, have a longer market life. These, apart from sustained market demand, explain the continued occurrence of some innovations as top medical device technologies over the last few years.
Innovations in this space are sustained by the need to provide better devices and diagnostic support to an
ageing population and increasing incidence of chronic diseases. Additionally, there is an increasing demand
for cheaper, better and flexible healthcare solutions, keeping in line with global megatrends.
The major challenges that medical device innovations face are: high regulatory requirements, prolonged development phase, and competitive intellectual property landscape, all of which increase the time-to-market and put a stress on the return on investment.
Despite these challenges, there has been support to cutting-edge medical technologies from investors, particularly by venture capital and private investors. Conventional investment avenues such as government grants are popular in Europe and Asia, where there are plenty of industry-academia research consortia
Frost & Sullivan's top medical technologies for 2015 features ten game-changing and disruptive innovations. These innovations have been scouted from diverse market segments - medical devices, imaging, diagnostics and healthcare enabling technologies – to showcase cutting-edge innovations across the industry.
Based on Frost & Sullivan's analysis, the following have been identified as 2015 Top Medical Device Technologies: Surgical Robots, Digital Pathology, Neuroprosthetics, Surgical Laser, Smart Pills, Optical Imaging, Health
Informatics, Integrated Vital Signs Monitoring, Artificial Organs and Four-Dimensional (4D) Ultrasound imaging.
Most of these technologies, with the possible exception of artificial organs and Neuroprosthesis, have an impact across the developed, developing and emerging countries – a feature that is vital in gauging the market potential and game-changing potential of technologies.
The growing importance of these technologies have attracted the attention of large and small companies alike. Tier-1 companies, traditionally seen as being cautious to cutting-edge technologies are beginning to directly, or indirectly – through investments, tie-ups, acquisitions – claim stake in these high impact markets. Even non-healthcare companies such as Google and IBM have invested in several of these technologies.
The year of impact of these technologies are in the short-term: 2015 to 2017. It is expected that these innovations - Neuroprosthetics, Artificial Organs, 4D Ultrasound Imaging - will translate to commercialization, and technologies such as Smart pills and Surgical Robots, now in the early commercialization phase, will experience wide-spread adoption across markets.
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