Innovation and Connectivity Drive Medical Device Development

Our aging population drives development in orthopedic and surgical devices, says new report from PMMI Business Intelligence.

Medical Device Market
Medical Device Market

While 68% of all U.S. patents originate in U.S., Japan, Germany, U.K and France continue to register patents here. Healthcare continues to move beyond the Doctor’s office, clinic and hospital with embedded mobile connectivity with devices measuring blood pressure or blood sugar levels.

Low-tech devices, historically outsourced from overseas, are experiencing a resurgence here in the U.S. with on-shoring manufacturing efforts.

In 2014, the value of shipments for medical devices totaled 88.3 billion dollars. These sales include: surgical and medical instruments, surgical appliances and supplies, ophthalmic products, and dental equipment and supplies.

Despite the innovative climate, since 2007 sales of these device types has been relatively flat or in slight decline.

Source: PMMI Business Intelligence, Pharmaceuticals and Medical Devices 2016: Trends and Opportunities in Packaging Operations.

Click here for the entire 58-page report: http://www.pmmi.org/Research/ResearchTrends.cfm?ItemNumber=33156

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