The global market for neurovascular devices is projected to expand at a CAGR of 6.5% during the forecast period of 2024 to 2032. The market is anticipated to be driven by the rising incidence of neurological disorders, technological advances, and demand for minimally invasive procedures. Interventional neurology devices are utilized for the diagnosis and treatment of brain and central nervous system vascular disease.
The global endotracheal tube market is projected to expand at a CAGR of 6.5% during the forecast period of 2024 to 2032. Increasing incidences of chronic diseases such as cardiovascular disease, cancer, and other respiratory diseases have led to an increase in the number of surgical procedures requiring endotracheal tubes. According to the 2019 World Health Organization report, respiratory diseases are the leading cause of death worldwide, accounting for approximately 4.0 million deaths annually.
The humidifier market is expected to grow at a CAGR of 6.1% during the forecast period of 2024 to 2032, driven by factors such as increasing health awareness, changing climate conditions, and technological advancements. The global humidifier market has witnessed significant growth in recent years. This growth is primarily driven by the increasing awareness of health benefits associated with maintaining optimal indoor humidity levels. Consumers have become more conscious of indoor air quality, particularly in the context of respiratory health.
The dental consumables market refers to the sector that encompasses various dental products and materials used in dental procedures. These consumables are an integral part of dental practices and contribute to the overall revenue of the dental industry. The market is expected to witness a CAGR of 8.5% during the forecast period of 2024 to 2032, influenced by factors such as the growing prevalence of dental diseases, increasing dental awareness, advancements in dental technology, and the rise in cosmetic dentistry procedures.
The premature ejaculation treatment market is growth at a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2024 to 2032. According to the research survey conducted by the International Journal of Impotence Research (IJIR), 30% adult men throughout the globe suffer with premature ejaculation.
The modern surgical clip was introduced by Edward Weck, Inc. in 1967, which was viewed as a significant advancement from the conventional ligating clips and cartridges. Modern surgical clips sport important advantages such as use of tantalum and radius bend on the lateral leg, therefore completely containing the blood vessel within the ligating clip. These clips are also pre-loaded on disposable cartridge, therefore, offering immediate use during the surgical procedure.
As per the research citings of Center for Disease Control and Prevention (CDC) 2015 report, approximately 1 in 25 hospitalized patients suffer from healthcare associated infections every day. The primary purpose of surgical masks is to protect the healthcare professionals from the inhalation of respiratory particles and droplets which have a potential to induce respiratory tract infection. The medical masks are widely utilized in hospitals, ambulatory care centers, dentists and healthcare professionals working in pharmaceutical and biotechnology industries.
The dermatology devices market is expected to experience a CAGR of 12% during the forecast period of 2024 to 2032. Dermatology devices are used for diagnosing and treating various skin conditions, including skin cancer, acne, psoriasis, and dermatitis. These devices play a crucial role in enhancing the efficiency and accuracy of dermatological procedures, providing better patient outcomes. The market revenue of dermatology devices is driven by several factors.
Surgical Generators Market Is Projected to Expand At A CAGR Of 3.5% Between 2023 And 2031. Adoption of surgical generators in electrosurgical procedures is to produce various type of waveforms based on the desired clinical outcomes. Surgical generators exerts coagulating, desiccating, fulgurating or cutting effect on the biological tissue by generating alternating current and operating in the range between, 400,000 Hz to 3.5 MHz frequency.
The peripheral vascular stents market is expected to witness a CAGR of 7.5% during the forecast period of 2024 to 2032, driven by the increasing prevalence of peripheral artery disease (PAD) and the rising aging population. Peripheral vascular stents are medical devices used to treat blockages and narrowings in peripheral arteries, such as those in the legs, arms, and other areas outside the heart and brain. The main purpose of these stents is to restore blood flow and prevent further complications associated with PAD, such as limb amputations and cardiovascular events.
The global market for medical devices is anticipated to increase at a CAGR of 5.5% from 2023 to 2030. An increasing number of patients are undergoing diagnostic and surgical treatments due to the increasing frequency of chronic diseases and the healthcare industry's emphasis on early detection and treatment. In developed and developing countries, the demand for medical devices, such as capital equipment and consumables, is fuelled by an increase in the number of hospitalizations and surgical and diagnostic procedures. Leading market participants are expanding their spending in R&D for the development of technologically improved equipment in order to meet the rising demand for novel devices. Over the projected period, the medical devices industry is anticipated to be bolstered by the rising investment of medical technology businesses in research and development, as well as by regulatory agencies' favorable clearance scenarios.
There are some limitations to wearable technology, including security and data privacy concerns. Despite these limitations, fitness trackers and activity monitors continue to enjoy a substantial market share due to their usability and benefits. The increased emphasis on fitness among adults worldwide and the increasing emphasis of regional and national healthcare agencies on monitoring and diagnosis have contributed significantly to the increase in demand for fitness trackers.
Although internet connectivity is essential for the transfer of patient data from remote devices to physicians, data security risks may impede the growth of the medical device market. Hence, this increases the risk of data security. The increasing use of connected devices increases the likelihood of data breaches or hackers. Almost 2,300 patients of Hammersmith Medicines Research had sensitive information including medical questionnaires, copies of their driver's licenses, passports, and national insurance numbers leaked in March 2020. On these patients, the research business was conducting trials for the COVID-19 vaccination.
Breakthroughs in medical technology have radically transformed patient care by enabling a greater emphasis on clinical outcomes. For instance, minimally invasive or non-invasive medical technology not only save recuperation time but decrease medical expenditures. The expansion of the markets for telemedicine and drug-eluting stents exemplifies the expanding trend in modern medicine to use cutting-edge technology to improve therapeutic outcomes.
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