Global HealthTech Market will grow to US$ 456.85 Mn by 2028 at 19% CAGR- says Absolute Markets Insights

PUNE,India,Dec. 14,2020 --

The global healthtech market was valued at US$ 96.11 Bn in 2019. The adoption of single use technology has experienced a rise in the healthcare industry during the outbreak of the corona virus. Single use technology reduces the cost and time of healthcare providers on cleaning and sterilizing the equipment and also in combating further spread of the virus.

HealthTech Market will grow to US$ 456.85 Mn by 2028 at 19% CAGR

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The healthcare industry has witnessed a rise in the integration of technologies such as artificial intelligence and machine learning over the years. These advanced technologies have contributed towards increased efficiency of the healthcare providers to identify diseases,diagnose symptoms,develop treatment plans and monitor health conditions on regular basis of patients.

Asia Pacific is expected to register highest growth rate over the forecast period owing to the rising investment on healthcare infrastructure and equipment by developing countries such as India,China and Thailand amongst others.

The adoption of 3D printing technologies across the healthcare industry has led to enhanced imaging of body part which increases the efficiency of healthcare provides during operations. For instance,3D printing in the dental sector enables enhanced production of crowns,veneers,aligners,and other dental products.

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Augmented Reality and Virtual Reality solutions and devices have experienced a rise in adoption across the healthcare industry,contributing to the growth of the healthtech market. These technologies help in treating with visual impairment,depression,and autism amongst others,while simultaneously offering education capabilities for both medical professionals' and patients.

Some of the players operating in the healthtech market are Agfa-Gevaert Group,Ambu A/S,BD,bioMérieux SA,Boston Scientific Corporation,Coloplast Corp,Dentsply Sirona,Edwards Lifesciences Corporation,Essilor,General Electric Company,IBM Watson Health,Illumina,Inc.,Institut Straumann AG,Intuitive Surgical,Johnson & Johnson Services,Koninklijke Philips N.V.,Medtronic,Microsoft,Myriad Genetics,PathAI,inc.,QIAGEN,Sanofi,Sartorius AG,Smith & Nephew,Sonova,Stryker,Thermo Fisher Scientific,Touch Surgery,Verily Life Sciences LLC,Zimmer Biomet,and other market participants.

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