Medical Device Companies Can Meet The Increasing Demand For Improved Medical Equipment By Adopting IEBS-derived Strategic Solutions

Overview:

The biomedical industry, an evolving healthcare industry segment, can phenomenally revolutionize the healthcare device market. With the significant technological developments in surgical devices, implants, bioprinting, imaging methods, and much more, the biomedical industry is bridging the gap between biological science, medicine, and engineering.

Potential Opportunities Across Biomedical Industry:

In an era of value-based delivery model, patients are now opting for treatments with minimally invasive procedures, which minimizes in-patient hospital stay and reduces healing time, thus reducing overall healthcare expenditure. For performing surgeries with the least incisions, such as pacemaker implantation, angioplasty, or smart drug delivery devices integration, among others; highly sophisticated devices loaded with various sensors & camcorders are a mandate. Hence, a rapid increase in demand for such advanced medical equipment across multiple tertiary healthcare centers, transition care centers, health-tech companies, and surgical facilities is witnessed.

Since the emergence of the COVID-19 pandemic, people have become more health-conscious and started monitoring fundamental signs associated with health, including pulse rate, blood pressure, blood sugar, oxygen saturation, etc. Thus, various biomedical companies got an opportunity to collaborate with electronics industries to innovate and mass-produce compact & easily accessible devices.

Moreover, it is crucial to diagnose life-threatening infectious diseases, such as SarS-CoV-2 and Ebola virus, at the earliest. Rapid diagnostics systems with high specificity and sensitivity are required for quick diagnosis. The development & commercialization of AI-powered medical imaging devices with improved pace & accuracy, such as CT scanners, MRI machines, ultrasound, etc., will likely accelerate the medical technology industry. Also, the consumables & compounds used to process the samples in the systems should be produced & supplied in ample amounts. Hence, the scenario offers a huge opportunity for the entire value chain of the biomedical device industry to introduce cost-effective, rapid, and highly accurate devices in the market. Currently, microfluidics and organoid-on-a-chip devices are leading the biomedical sector.

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Key Restraints Decelerating the Adoption of Medical Technology Devices:

Regarding public health, biomedical devices should be standardized to diagnose infectious agents and genetic disorders precisely. Finalizing and maintaining the standardization of a particular type of equipment across the globe is challenging. Several biomedical equipment manufacturers must revamp their technologies and processes accordingly to maintain product standards accurately.

The second major obstacle faced across the industry is incompatibility. To fortify, an electroencephalography (EEG) machine developed by an organization operates efficiently at a specific electrical standard & frequency. The variations in electrical standards across different nations make it difficult for manufacturers to create globally operatable devices.

How do IEBS Technology Intelligence services pace the growth of medical technology companies?

The exceptionally talented & experienced team of IEBS professionals is well-informed about the recently launched and developing technologies across the biomedical sector. With profound knowledge across biofluids, compact wearables, robotics, remote surgery, 3D bioprinters, artificial organs, and hydrogels, the IEBS analysts help clients recognize the best-fit technology among various technologies by comparing their features, performance, and cost of establishment. By employing technology-related solutions offered by IEBS, clients can access the finest strategic roadmap to upgrade their existing technologies for overall business growth.

How do our Business & IP Intelligence services help medical technology companies flourish?

IEBS analysts and consultants keep clients up to date by delivering crucial insights into their competitors’ strengths & weaknesses, recent technologies & processes introduced, and unexplored market segments (white space) in the biomedical sector. As the biomedical industry is drastically shifting toward sustainability, IEBS consultants assist clients in adopting cost-effective & innovative ways to reduce the carbon footprint throughout the value chain, starting from raw material manufacturing to delivering the product to the end user. In addition, most firms face regulatory challenges while adopting, commercializing, licensing, and selling novel technologies around medical technology devices & equipment. To avoid such challenges, we have a dedicated team of IP experts to help improve your IP portfolio and increase your ROI002E

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