The veterinary MRI market is expected to grow at a CAGR of 6.5% during the forecast period of 2024 to 2032. Animal products such as meat, milk, and eggs were unable to reach markets as a result of the disruption in the supply chain. In response to the disruption in the demand-supply chain, the Food and Agriculture Organization published in April 2020 a new policy regarding the production of livestock and the supply chain of livestock products during the pandemic to ensure adequate livestock production.
A high-frequency ultrasonic nebulizer is a device used to provide medication. This vibration at a high frequency transforms liquid medicine into a mist. Patients can inhale this mist with a mask or mouthpiece. The mouthpiece expiration valve of the ultrasonic nebulizer opens when the patient exhales, allowing the exhaled air to escape straight into the atmosphere and preventing the ultrasonic nebulizer from becoming contaminated.
The global percutaneous coronary intervention guidance devices market is expected to expand at a CAGR of 6.5% during the forecast period of 2024 to 2032. Guidance devices for percutaneous coronary intervention are utilized in the diagnosis and treatment of cardiovascular diseases.
The global market for infant oxygen hoods is anticipated to expected to witness a CAGR of 9.5% during the forecast period of 2024 to 2032, on account of the rising incidence of respiratory problems in infants and the rising demand for advanced respiratory treatments. Parental awareness of the importance of proper respiratory care for infants is likely to contribute to market growth.
It is impossible to sterilize medical or scientific equipment in an autoclave. High-tech equipment that are complex and technologically sophisticated are sensitive and may have risk of being damaged when exposed to high temperatures and humidity. In order to preserve their properties, plasma gas-based sterilizers were developed. The global Plasma Sterilizers market is expected to grow at a CAGR of 10.7% during the forecast period of 2023-2031.
3D printing in eyewear is gaining traction with increased adoption of additive manufacturing (AM) across various industry verticals. New trend of tailor-made eyewear that are comfortable to customer needs is expected to boom the market size in coming decade. 3D printing technology can be used to manufacture complex shapes that cannot be produced with conventional manufacturing technologies. These factors are expected to drive the market in near future.
From 2024 to 2032, the global vagus nerve stimulation market is projected to expand at a CAGR of 10.5%. The rising geriatric population, the introduction of technologically advanced products, the escalating product demand as an add-on therapy, the rising incidence of chronic diseases such as migraine and epilepsy, and the presence of unmet medical needs in these disease segments are some of the key factors driving the market growth.
The pediatric catheters market is representing stable growth at a compounded annual growth rate (CAGR) of 9.0% during the forecast period from 2024 to 2032. Rising incidence of infectious and congenital diseases in children pertaining to cardiovascular, urology, neurovascular etc. has resulted in early surgical intervention to curb the mortality rate in children. Technological advancement in the pediatric catheters and excellent ergonomic features has drastically reduced the catheters associated infections and aid in the healing process post surgery with minimal discomfort. Proactive government initiatives worldwide to cater financial aid to promote children healthcare and favorable reimbursement provided by insurance payers further propel the pediatric catheters market growth.
The global medical devices outsourcing market expected to grow at compound annual growth rate (CAGR) of 10.6% during the forecast period from 2024 to 2032. Outsourcing of medical devices manufacturing has become a pervasive aspect of medical device industry with every company are choosing outsourcing over in-house manufacturing. This has led the companies to focus on their core competencies and new product development. The trend of outsourcing medical devices R&D is also increasing. Outsourcing has become the favorite option for the companies as it reduces costs, accelerate market entry of products and curtails business risks.
The global Zygomatic and pterygoid implants market was valued at more than US$ 302.4 million in 2021 and is expected to reach over US$ 576.44 million by 2032, expanding at a CAGR of 6.0% from 2024 to 2032.
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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