Emerging Medical Device Market Expected to Exceed $400 Billion by 2023

PALM BEACH, Florida, December 18, 2018 /PRNewswire/ --

Financialnewsmedia.com News Commentary 

With long life expectancy and emerging economies' increasing expenditure on healthcare, there is an increased and growing demand for technologically superior medical devices. According to ResearchAndMarkets.com, the global medical device market is expected to reach an estimated $409.5 Billion by 2023, and it is forecast to grow at a CAGR of 4.5% from 2018 to 2023. Major factors for the growth in the industry are healthcare expenditure, technological development, aging population, and chronic diseases. The medical technology industry (commonly referred to as medical devices) consists of instruments, devices apparatuses, or machines that are used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting, or modifying the structure or function of the body for some health purpose. Active biotech, medical and pharma companies in the markets this week include Earth Science Tech, Inc. (OTC: ETST), TransEnterix, Inc. (NYSE: TRXC), Cerus Corporation (NASDAQ: CERS), Puma Biotechnology, Inc. (NASDAQ: PBYI), Johnson & Johnson (NYSE: JNJ).

Earth Science Tech, Inc. (OTCQB: ETST) BREAKING NEWS: Earth Science Tech, an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces the production of the first commercial production run of Hygee, its new, original medical device to fight sexually transmitted infections (STIs). The official launch is scheduled for early 2019.

After numerous partnerships, tests, distribution agreements and prepping, ETST has officially ordered a first production run of Hygee. Initial marketing will target North America, South America, Asia and Africa, and the Company will package Hygee in English, French, Portuguese, Spanish, Vietnamese and Arabic to reach a wide audience of consumers.  These languages are mother tongues for 1.5 billion people, with many other ethnic groups using English as a second language. By offering Hygee in different languages, ETST can reach the majority of individuals globally, as well as those in the Company's current agreed distribution network, shared in November.