Innovative MedTech Demands Specialist Clinical Trial Regulatory Affairs and Design
As technology becomes increasingly ubiquitous in our lives, the demand for remote or home-based MedTech for real-time condition detection, monitoring or management presents vast market opportunities. This paradigm shift is precipitating the increased development of easy-to-use medical devices (including software as a medical device), for the diagnosis, treatment and management of lifestyle and chronic diseases.
Innovative MedTech covers everything from physical devices, artificial intelligence (AI) and machine learning and digital healthcare, including biosensors in wearables like a watch, to a skin patch, or ingested or implanted devices. It includes monitors that release medications, to more advanced products like implanted neurostimulators, through mobile phone apps that can diagnose a COVID cough or analyze speech to predict neurodegenerative diseases.
It can also include our everyday medical devices such as dentures, surgical equipment, 3D printing, robotic surgery, laser surgery, artificial organs, pacemakers, inhalers, and stents.
“The global medical devices market size has been valued at USD 488.98 billion in 2021 and is projected to grow to USD 718.92 billion by 2029.” Fortune Business Insights
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