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Rising Trends in the Medical Devices Industry
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The medical device technology industry, which includes a wide range of medical devices from simple thermometers to sophisticated equipment such as programmable pacemakers and imaging systems, has advanced significantly in recent years. According to the North American Industry Classification System (NAICS) and the U.S. Census Bureau, the national medical devices industry is worth $156 billion, comprising over 6,000 companies with a combined total of more than 500,000 workers.

As the retirement population grows and the prevalence of chronic disease continues to rise, innovation and increased capital have been injected into the medical devices industry. Here is a just a glimpse at some of the upcoming trends in the medical devices market.

 

Defibrillators

With one in every four deaths attributed to heart disease, the prevalence of cardiovascular disorders such as valvular stenosis and congenital heart disease has led to an exponential growth in the defibrillator market size. Estimates place the expected annual growth rate at over 7.8% between 2018 and 2025.

Also supporting the demand for this market are government legislation and regulations encouraging the use of defibrillators. In 1997, Florida became the first state to enact such a broad public access law. As of 2001, all 50 states have passed laws calling for all public places to have easy access to Automated External Defibrillators (AEDs). Since then, schools, offices, and other private and public institutions have implemented several defibrillation training programs, further contributing to this market’s growth.

 

Surgical Robotics

Perhaps no other branch of medicine has evolved more over the decades than the surgical field. Since the FDA’s approval of Intuitive Surgical’s da Vinci Surgical System in 2000 and the completion of the first remote transatlantic robot-assisted surgery in 2001, there has been a significant push for the use of surgical robotics.

Such high-precision, minimally invasive capabilities have made computer-assisted surgery ideal for complex procedures on delicate organs such as the heart, brain, and prostate. This approach also often reduces patient recovery time and mitigates infections.

In 2017, the surgical robot market was valued at $3.6 billion. This value is expected to reach $12.6 billion at the end of 2025, an increase of 250%.

 

Partnering with PTI

As technology in the medical industry continues to advance, so too does the reliance on various types of medical devices. These devices serve many critical functions and are required to meet extremely high performance and reliability demands. Systems that power medical devices must, therefore, be equally up to the task.

For over 30 years. PTI has built a reputation as a leading supplier of battery packs for numerous industries including the medical field. Our custom high-quality battery power solutions support continuous innovation in medical devices such as medical bionics, defibrillators, and surgical robotics.

We work closely with our clients at every phase of the design process, from proof-of-concept to full custom battery pack manufacturing, to help develop the most suitable power solution for their medical devices.

To learn more about our custom-engineered battery packs for the medical industry, contact our technical support team here.

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