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What Is The Importance Of Software In The Medical Devices Market In India?

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By Author: Andrew Thomas
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Medical devices are playing an important role in the modern healthcare setup and no diagnosis or treatment is possible without their help. According to the WHO, there are approximately 1.5 million medical devices functioning in the medical market, ranging from low-cost devices like stethoscope and thermometer to expensive, highly complex and sophisticated devices such as chemotherapy machines, PET scans and MRIs. With the increasing need for connectivity and the complex structure of these medical devices, the role of software in medical devices is becoming more crucial.

Software used in medical devices are designed to give the equipment a range of functionalities. In addition to enabling a device to interact with a human body, a device can perform several other functions such as monitoring heart rate, measuring blood sugar levels and dispensing medication. Wireless communication has been made possible with present day medical devices and over the internet to other applications and devices, increasing the importance of software to display and process accurate information for various users.

According to research by a leading market research firm, the medical devices market in India was valued at INR 338.62 Bn in 2017, and is expected to reach INR 794.29 Bn by the end of 2023, expanding at a compound annual growth rate (CAGR) of ~15.27% during the 2018-2023 period.

The term ‘medical devices’ was first put to use in the early 1980’s, when advancements in software technologies made its implementation possible in software-driven medical devices. As devices became more complex, software programs upgraded from switching the device on and off to controlling and monitoring the devices, and more advanced functions began to emerge. Wireless communication technologies are continuously being incorporated in medical devices such as Bluetooth Smart and IrDA. They have the ability to connect to computers, smart phones, tablets and other medical devices. This connectivity has allowed doctors to diagnose and treat patients remotely.

Examples of integrating wireless technology in medical devices are Medical Body Area Networks (MBAN) and Remote Patient Monitoring (RPM). RPMs are wearable devices that directly send the medical data to the doctor. Advancements in medical software has made it easier for doctors to diagnose diseases and determine the appropriate treatment method. This has saved million lives, as they now do not simply rely on their experience and intuition, but the help of intelligent devices to make quick and accurate decisions. Many lives have been put to the risk earlier due to inaccurate or delayed diagnosis and treatment methods.

The medical devices market in India has seen a good rate of growth in the past decade as these devices ensure accuracy and consistency in data. For example, a glucometer that gives an inaccurate reading may cause serious injury to a diabetes patient and may even cause his or her death. In some ways, patients use medical devices so that they can reduce the number of visits to the hospital. Downloadable apps can also be used to run and activate medical devices connected to the computer or smartphone.

Download the free sample reports: https://www.researchonglobalmarkets.com/free-reports

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Written by a content marketer who keeps updated on industries for market research purposes and studying them.

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