Clinical diagnostics devices help detect a variety of diseases and other health issues. Rise in cases of lifestyle diseases which can develop into chronic conditions such as blood pressure, diabetes, and others, is driving the demand for such diagnostics devices. Otoscopes, ophthalmoscopes, thermometer, sphygmomanometers, electrocardiographs, stethoscopes, and several others are the prominent types of clinical diagnostics devices.
Sphygmomanometers to Witness Rapid Expansion
The sphygmomanometers product segment is anticipated to have fast-paced growth on account of easy availability of affordable sphygmomanometers. The availability of advanced sphygmomanometers which eliminate a trip to the doctor’s office coupled with these devices allowing patients to track their health is also considered one of the key drivers for the segment growth.
Thermometers segment is also likely to expand at a healthy growth rate from 2017 to 2025. This growth can be credited to the increasing product demands on account of a spike in deteriorating health conditions requiring accurate body temperature measurement.
Stethoscopes are also projected to accrue high demand throughout the forecast years (2013-2025) on account of growing cases of cardiac and pulmonary diseases. Moreover, huge investments by leading companies for development and commercialization of various innovative and accurate stethoscopes with improved frequency are also said to spur segment growth.
Market Overview
The findings of a research study available on Radiant Insights, Inc., suggest that the global clinical diagnostics devices market would witness a strong growth rate from 2017 to 2025. Various technological and product innovations are also expected to spur market growth. Moreover, need for advanced diagnostic devices among patients is also likely to have a positive impact on the global product demand in the forthcoming years. Top companies in the global market include Koninklijke Philips N.V.; Fresenius Medical Care AG & Co. KGAA; Boston Scientific Corp.; and Medtronic Public Limited Co.
Most of these players focus on product/technology innovation. For example, VoCare Inc. has developed an innovative mobile, business grade multi diagnostics device, Vitals360. The new device features compatibility with advanced technologies including Bluetooth, WiFi, and 4G LTE for data transfer. It collects six health vitals, which include pulse, electrocardiography or ECG, blood pressure or BP, oximetry, temperature, and blood glucose.
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