As the sector witnesses a ‘resurgence of small acquisitions’, global medical device and technology growth is to go up by 5 per cent or more annually until 2022, reaching around $530 million, market research firm Evaluate reveals.

The role of technology is vast in the field of medicine as it is considered to be the driving force behind healthcare improvements, aiding doctors to diagnose, study and treat the specific parts of the body in a short period of time. However, during the 18th century doctors and biomedical specialists had developed numerous instruments such as thermometer, microscope and many others in revealing how a healthy and a diseased body worked. As this was just the start, other major instruments followed and were developed over the century.

Market research firm Evaluate expects global medical device and technology growth to go up by 5 per cent or more annually until 2022, reaching around $530 million as the sector is “witnessing a resurgence of small acquisitions on which startups, a significant source of disruptive new technologies depend on,” Ian Strickland, EvaluateMedTech product manager said in a report, recently released at the Advanced Medical Technology Association.

Today, major hospitals and clinics worldwide use complex, sophisticated and computerised machines to image the body and speeding up the diagnosis.