The Minimally and Non-Invasive devices industry has witnessed an exponential rise in the recent times. Huge adoption rates from the majority of the population have been instrumental in their growth. The promise of pain free procedures and a minimum side effects resulting from the procedure due to the usage of minimally invasive devices has been a key factor in the adoption rates. Although, minimally invasive surgery has been at the disposal for more than a century, it is only within the last few decades it has widely been accepted in the medical industry. As a relatively young field it holds a lot of promise with ever expanding technological advances with many exciting developments on the horizon.
With increasing product innovations in the minimally invasive device industry, the market for minimally invasive devices will be on the rise. The most recent news involves the agreement between Google and Johnson & Johnson to develop more advanced robotics technology for surgical use. Google hopes to tackle the software side of the issue by creating machine vision technology to aid doctors in guiding and control surgical equipment. This is a major indication of the promise the minimally invasive device industry holds. Technological advances have resulted in a new line of products released by the major market players. Zimmer has been instrumental in showcasing 12 new spine technologies in the North American Spine Society Annual Meeting to grow their presence and retain their stand as one of the market leaders. All the products were designed for minimally invasive procedures.Medtronic's acquisition of Sophon, Inc., a company which was famous for their minimally invasive bone conduction hearing implant technology and Boston Scientific's acquisition of American Medical Systems Urology Portfolio, Philips acquisition of MIS device manufacturer Volcano and Abbott's acquisition of Topera, a private, venture-backed medical device company indicates the demand for MIS devices all around the world and is a sign of product innovations driving the market growth on a global scale.
New technologies are being introduced into the market on a large scale primarily due to the increased demand for the adoption of MIS products in surgeries and other major medical procedures. These new technologies involve the likes of 3-D endoscopy and 3-D ablation devices, Robotic medical devices, picosecond tattoo removal technology and other technologies are one of the main reasons for the growth of the Minimally Invasive Device market globally.
All the above factors point out to the fact that device market is at its peak currently, primarily due to the increased adoption rates, product innovation and rapid technological advances and is set to continue this trend for a while till it reaches the point of saturation.
Source by Sathish Chary