Singapore, Aug 26, 2009: According to a new healthcare market research report 'Global Top Ten Medical Device Technologies Market (2009 - 2014)', published by MarketsandMarkets in 2009, the entire market for top ten medical device technologies is estimated to be approximately $454.3 billion, of which medical diagnostic devices technologies alone constitute about 40% of the entire market at approximately $177.8 billion. The market for drug delivery devices constituted an estimated $110.8 billion for the same period.

 

The report noted that the scientific and medical technology breakthroughs - such as minimally invasive surgery (MIS) - have accelerated the accuracy of clinical outcomes and have also reduced recovery times and the medical costs borne by patients.

 

With the increased collaboration and integration between different technologies such as IT, pharmaceutical, medical imaging and medical devices, the healthcare industry is witnessing better clinical outcomes, a trend that is apparent in the market growth of proteomics, drug eluting stents and telemedicine technologies.

 

The report further noted that mobility aid technologies, micro-fluids and MEMS, tele-medicines and biomaterials are the fastest-growing medical device technologies at CAGRs of 20.7%, 19.7%, 14.2% and 12.9% respectively from 2009 to 2014. Of these, biomaterials show huge potential because of its relatively bigger market size, with an estimated $46.6 billion in 2009 expected to grow to $85.5 billion by 2014. The antimicrobial wound dressing segment is the fastest-growing biomaterials market, with an estimated size of $330 million in 2009 which is further expected to reach $780 million by 2014.