Med-Tech Innovation Industry News
INDUSTRY NEWS
Personal care devices drive the industry Revenue growth in the world market for consumer medical devices will range from 5% to 9% in the next few years, with industry takings amounting to $10.6 billion by 2017, according to a report from IHS Inc.. The majority of revenue will stem from hearing aids because of their higher average selling prices, but diagnostic devices such as blood glucose meters and blood pressure monitors will also play a part. In addition to the continuing rise in those aged 65 and above, growth of the market is being driven by the continuing peril imposed by cardiovascular diseases such as hypertension, responsible for more than 30% of annual deaths. In particular, developing countries such as China, India, Russia and the sub-Saharan African region are experiencing high growth in hypertension incidence, taking place because of a richer diet borne out of rising discretionary income, says the report. A third reason for the good prospects in this market is due to government initiatives in preventive care, which are increasing awareness among consumers. Personal care devices such as activity monitors, body composition analysers and heart-rate monitors are among the fastest growing consumer medical devices today. Asia-Pacific is the epicenter of growth, but the Americas and the collective Europe-Middle East-Africa regions are also prominent
Engineers get closer to physicians
With support from the Industrial Development Agency in Ireland, Medtronic has opened a new Customer Innovation Centre in Galway that will provide state of the art facilities for physicians and Medtronic engineers to work together on developing new therapies. The Centre cost €7.7 million to build. It includes hybrid, demon- stration and collaboration laboratories for visitors to get hands-on experience with the company’s latest
technologies, and where physicians and Medtronic engineers will be able to work together on
future technology developments. The facility also includes the latest digital communication technology for global networking, 3D printing facilities to prototype new ideas and extensive training and education facilities. As many as 500 physicians and customers are expected to visit the centre every year.
www.idaireland.com
08 ¦ September/October 2013
centres of market activity. The UK and Denmark have been especially successful in implementing telehealth, or the remote monitoring of health conditions via monitors and compatible devices.
Blood pressure monitors, with estimated revenue this year of approximately $838 million, represent one-tenth of the overall takings projected in 2013 for consumer medical devices. This part of the industry can expect stable growth in the years to come, with 2017 revenue forecast to reach more than $963 million.
www.ihs.com
The future look of POC testing
The 10th Annual Point of Care: Innovations of the Future Conference comes to London at the end of October. Speakers will discuss how point of care (POC) testing will look and change over the next decade, and the potential gaps in the market for new technologies and how to successfully implement them. This year’s event is focusing on technologies aimed at “on the spot’” diagnosis of infectious diseases such as HIV and TB. Specific talks include Rapid Magneto Immun- oassay presented by Richard Luxton, Director of the Institute of Bio-Sensing Technology, University of the West of England Bristol; and Metal Nanoparticles for optical imaging in medicine presented by Jose Costa-Fernandez, Vice Dean of the Faculty of Chemistry, University of Oviedo. For more details, visit:
www.smi-online.co.uk/ 2013pointofcare56.asp
www.med-techinnovation.com
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