Driven by a combination of robust R&D infrastructure, a strong regulatory framework, and significant investment from both private and public sectors, the US stands at the crossroads of healthcare innovation with a booming medical device sector that is poised for growth.
According to a report by Business Fortune Insights, the country’s medical devices market is anticipated to grow to $291 billion by 2030. This marks a CAGR of 6.1 per cent, up from $192.78 billion in 2023 during the forecast period. A key driver of the industry's growth is the continuous demand for improved healthcare solutions due to an ageing population and the prevalence of chronic diseases.
Companies in this field are heavily investing in developing cutting-edge technologies such as wearable health monitors, minimally invasive surgical devices, and AI-driven diagnostic tools. This phenomenon also plays a role in creating high-quality opportunities, which support nearly two million jobs, directly and indirectly.
The Food and Drug Administration (FDA) also plays an essential part in ensuring the safety and efficacy of these devices through rigorous approval processes. The US' emphasis on innovation, paired with a strong regulatory environment, ensures that the medical device industry will continue to thrive and advance healthcare outcomes domestically and globally.
To honor its continuous achievements and showcase the region’s prowess to the rest of the world, Florida International Medical Expo (FIME) returns for another edition between June 19 and 21, welcoming leaders from across the globe to exchange ideas to pave the way for sustainable businesses, share knowledge and solutions to some of the pressing topics that concern the healthcare industry.
This year is packed with a host of exciting conferences under the Business and Innovation Health Hub umbrella, with engaging sessions led by the healthcare’s cream of the crop. With a carefully curated selection of topics, professionals take away strategies to drive collaborations with start-ups and medtech organizations, understand global business practices and tap into markets in other parts of the world, learn about the main regulatory issues in Latin America and insights into the ever-evolving world of healthcare and industry potential, to name a few. These will provide an intimate look at enhancing entrepreneurship, improving the supply chain and enabling digital transformation in a dynamic healthcare landscape
Small ventures carry huge potential and FIME understands the importance of having a healthy environment for concepts to develop and flourish. The Innov8 Start-Up Competition is one such opportunity that gives 20 of the most promising ventures a platform to present their ideas and innovations to a panel of esteemed judges for a chance to nurture and continue their revolutionary initiatives.
Product launches are also in store to give visitors a first look at the latest innovations and explore various partnership opportunities. While each organisation brings unique solutions to the forefront, Vision AI is among the most awaited. The web-based platform is expected to revolutionize the detection of retinal diseases, creating an environment for efficient referrals and enabling the timely management of eye conditions triggered by diabetes. Vision AI will also showcase retinal imaging technology to detect Alzheimer’s and heart diseases. Adding to the list of breakthroughs in medical imaging, StriXion™ by JPI Healthcare Solutions will present its multi-modal system that covers various needs in X-ray, fluoroscopy, and tomosynthesis.
The three-day show is packed with much to discover and explore. With an area of 150,000 square feet and 1,300 exhibitors from 55 countries, visitors can indulge in a variety of categories inclusive of orthopedic devices, laboratory, pharma and nutrition, physiotherapy and rehabilitation, imaging, healthcare and general services, medical equipment, infrastructure, as well as IT systems, solutions and digital health.
Sign up here to register for FIME 2024, the largest medical trade show in the US, and learn more about the latest trends disrupting the industry.
