Medical
devices are an integral part of the healthcare industry as they play
an important role right from diagnosis up to the end stage of any
disease management. Medical technology is already capable of
diagnosing, monitoring and treating every disease or condition that
is affecting globally. Technology innovators have focused on reducing
costs for patients as well as healthcare professionals. Increased
life expectancy, aging population, high prevalence of chronic
diseases and associated comorbidities has been a driving force behind
the innovation associated with medical technology. The Global Medical
Devices Nomenclature (GMDN) Agency determines the categories under
which a particular medical device falls. Few of the categories
includes active implantable technology, dental technology, hospital
hardware, and in-vitro diagnostic technology.
Request
for Sample Copy of Research @
https://www.coherentmarketinsights.com/insight/request-sample/1065
Mergers
& acquisitions have been a strategic maneuver for the
manufacturers to stay competitive amongst cutthroat competition. For
instance, Abbott Laboratories’ acquisition of St. Jude Medical was
the biggest merger of the year 2016, which was completed in 2017.
This acquisition added chronic pain management business to Abbott’s
portfolio and other cardiovascular offerings. This acquisition has
converted Abbott into a major player in the cardiovascular business.
The total revenue of top 10 global medical device manufacturers for
2016 accounted for US$ 166.4 billion.
Outlook
of top 10 organizations in the medical devices industry (2016)
Top
10 medical device manufacturers in 2016, according to the rank
include,
Medtronic
Plc
Johnson
& Johnson
General
Electric Co.
Fresenius
Medical Care AG & Co. KGAA
Philips
Healthcare
Siemens
AG
Becton,
Dickinson and Co.
Cardinal
Health Inc.
Stryker
Corp.
Baxter
International Inc.
These
rankings have been given according to the sales revenues for
respective organizations for 2016 in global medical devices industry.
-
Medtronic Plc is a global medical device manufacturing organization and earned US$ 29 billion revenue through medical devices sales and distribution in 2016. The company currently functions in four main operating segments namely, cardiac & vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group. Cardiac & vascular group accounted for highest revenues in the year 2016, i.e., US$ 10.2 billion, The major competitors in the cardiac and vascular group include St. Jude Medical, Inc., Boston Scientific Corporation, Sorin Group, Edwards Lifesciences Corporation, and C.R. Bard, Inc.
-
Johnson & Johnson operates through three major segments which include pharmaceuticals, consumer and medical devices. The company has planned to drive the growth further in the global medical devices sector through at least 12 planned product launches in 2017 and has capitalized on various acquisitions, in 2016, in the medical device sector. For instance, acquisition of Abbott Medical Optics and Megadyne Medical Products, Inc. in 2016, by Ethicon, a part of the Johnson & Johnson medical devices companies.
-
Fresenius Medical Care is global leader in providing products and services for chronic kidney failure management. Almost 70% of the company’s revenue comes from dialysis services which include dialysis machines, dialyzers, and bloodline systems. The dialysis products accounted for around 34% of the global market in 2016. The company’s strategy revolves around dominating select global medical device sectors through product innovation and internal market analysis. Fresenius Medical Care has developed its own tool, the Market and Competitor Survey (MCS) which is used to collect and analyze relevant dialysis market and competitor data once a year.
-
Becton, Dickinson, and Company earned US$ 12.5 billion sales revenues in 2016 through medical devices sales and distribution. The company operates through two segments, medical and life sciences segment, out of which, medical segment is the major revenue generator for the organization. The organization invests in acquisitions to compete in the market as well, as the company acquired CareFusion Corporation in 2015.
-
Baxter International, Inc. operates through two business segments, namely hospital products and renal products. These segments consist of medical devices as well as IV drug solutions and IV administration associated products and accessories. The company’s product portfolio has substantial breadth and depth in terms of product lines and penetration. The company’s strong marketing strategies associated with its customers, group purchasing organizations, and end users have helped them to create a diverse and strong customer base, which is how the company has retained its position in the global medical devices market.
Global
medical devices market is impacted by various factors from macro to
microeconomic with respect to individual organizations. However,
competition, and price pressure has led to integration of information
technology in healthcare, continuous innovation, customer centricity,
and change in distribution channel. Top technological trends such as
revolution in diabetes care, 3D printing, medical robots, and
engineered blood vessels, are among other notable trends are expected
to affect the global medical devices market over the foreseeable
future.
To
know the latest trends and insights prevalent in the medical devices
market, click the link below:
https://www.coherentmarketinsights.com/ongoing-insight/medical-devices-market-global-competitive-analysis-1065
About
Coherent Market Insights:
Coherent
Market Insights is a prominent market research and consulting firm
offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through
various recommendations related to emerging market trends,
technologies, and potential absolute dollar opportunity.
Contact
Us:
Mr.
Shah
Coherent
Market Insights
1001
4th Ave,
#3200
Seattle,
WA 98154
Tel:
+1-206-701-6702
No comments:
Post a Comment