A momentous revolution in patient care has been witnessed owing to medical technology advances by facilitating a greater emphasis on clinical outcomes. The factors responsible for the expansion of the medical devices industry are the rapid rise in the number of the elderly population, rising admission to healthcare facilities in budding nations, strong economic growth, implementation of advanced technologies in medical device manufacturing, and increasing healthcare expenditure. Further, non-invasive or minimally invasive medical technologies have played a major role in changing the outlook of medical devices. Also, the success rate of drug-eluting stents, personalized medicines, and telemedicine has helped the industry flourish by improving the clinical outcomes.
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