5 Medical Devices Technologies that are Making a Big Impact in 2021
Published : 01 Jun 2021 Industry: Healthcare
The present era is considered as an era of innovation which is characterised by constant innovations in medical and healthcare sector. The latest medical device technologies are designed with a focus to provide consistently superior experiences to all its users including patients, caregivers and clinicians with a view to dramatically reduce costs and accelerate decision making activities.
As Covid-19 pandemic continues to surge at a faster speed, it is creating an immense pressure on the medical researchers to come out with several promising technologies for facilitating healthcare operations in 2021. The technological advancements in the healthcare such as artificial intelligence, robotics, 3D printing etc are moulding the world to a better future.
Nanomedicine, the application of nanotechnology that operates on the atomic, molecular or supramolecular scale is revolutionizing the fields of medical imaging, sensing, diagnosis and drug delivery.
The nanotechnology is becoming a headway in streamlining the treatment procedures in 2021. Use of a nano-pill camera is enabling the doctors to study the inside part of the body and help in assisting the patients in a better way by diagnosing the diseases earlier, better and more accurately. It is expected that the coming years will assist the medical practitioners with better nanotechnology pills especially in treating cancer.
Among the other innovations in medical devices, healthcare wearables and sensors are now assisting the medical professionals to track the health details of patients and take necessary measures when required. These devices includes wearable fitness trackers, smart health watches, wearable ECG monitors, wearable blood pressure monitors, biosensors etc which are gaining incredible traction in 2021. According to Insider Intelligence Research, ‘ the number of health and fitness application users will stay above 84 million through 2022’.
The medical devices can be broadly categorized in 6 major sector related to medical treatment.
- Patient monitoring
- Digital health
The trends that might affect the medical device manufacturing industry in 2021 are elucidated below:
The bioelectronics sector
Bioelectronics devices must be small enough to be inserted through keyhole surgery and attached to a nerve. GlaxoSmithKline is developing pill-sized implants which work by adjusting nerve signals. The developments would revolutionize the business.
Using Smartphone apps for healthcare
The mobile phone revolution is definitely to transform the healthcare field. Patients prefer to have an online video chat with his doctor through mobile phone, or to order a home delivery of the prescription. This preference as against personal appearance before the doctor is bound to change the medical device industry. Doctors favor monitoring their patients with the help of medical devices.
Growing concerns about cyber security
With greater connectivity comes greater risk of cyber-attack. Medical devices are increasingly connected to the internet. And a user would avoid it if a cyber-security is breached. He may totally avoid a site for a particular device if it is hacked and its security is compromised. Therefore, medical device manufacturing companies will have to strengthen cyber-security of its site beside the device.
Assistive Surgery in Remote and Rural Areas
For performing high risk surgeries in rural and remote areas, Advancement in robotic surgical technologies will change the existing scenario and address the immediate needs of patients in remote and rural areas.
Competitive Factors and Regulatory Regime
Legislative measures such as new policies and programs with a view to reduce costs can influence the demand and pricing for medical products and services. It should be kept in mind that product development requires significant R&D costs. To control costs, Government Measures may check future pricing.
Bringing critical medical devices like stents, orthopedic implants and diagnostic equipment under stringent regulation, the new rules would also require these critical devices to undergo trials in India before they are approved for launch. The rules classify medical devices under four categories – A, B, C, and D. The categories are based on the level of risk such as low risk, medium risk and high risk.
Standards for regulations will differ based on the use and risk factor. For instance, implantable devices such as stents will be part of the high risk category and monitored directly by the government regulator.
At present, quality checks for medical devices are weak in the absence of specific rules. While ensuring that medical devices sold in India meet standard quality parameters and are affordable, the new rules are also expected to provide industry players a level playing field and ease of doing business.
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