ABSTRACT
This chapter explores emerging innovations in the medical device industry. It provides detailed descriptions, examples, and charts about new developments, emerging technologies, leading solution providers, and the revenue impact of innovations through 2035 in the medical device industry. The medical device industry is driven by innovation and technological developments. Powered by advances in technologies such as the Internet of Things (IoT), sensors, robots, electronics, batteries, and 3D printing, new and innovative medical devices are being introduced to healthcare facilities and patients’ homes.
In this chapter, six major innovation areas such as connected health devices, minimal invasive surgery, smart implants, advanced prosthetics, real-time diagnostic devices, and miniaturization of medical devices are discussed in terms of revenue growth, technology maturity, market opportunity, and the Three Horizon framework. The content of this section can be used for technology/opportunity scouting and strategic planning based on your organization’s objectives and risk tolerance.
