It is anticipated growth for Medical Devices Market would be driven by rising R&D expenditures by medical technology companies for the development of new and improved medical devices, as well as by regulatory agencies' ease in approving such items. The US Food and Drug Administration (USFDA) authorised and approved nearly 54 and 27 new medical devices in 2018 and 2017, respectively, according to the agency's database. The main drivers influencing the growth of medical devices in the coming years are expected to be the rising demand for new Medical Devices Market and technology advancements in medical devices to address unmet needs in the healthcare sector. The cost is 2–10 lakh rupees, nevertheless, since the Indian ventilator sector has stepped its output.
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