The future of the global medical device market looks promising with opportunities in the hospital and homecare sector. The global medical device market is expected to reach an estimated $445.1 billion by 2026 with a CAGR of 5% from 2021 to 2026. The major drivers for this market are increasing healthcare expenditure, a growing aging population, and chronic diseases.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of AI-Optimized medical devices, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-printing in medical devices.
A total of 80 figures/charts and 53 tables are provided in this 177-page report to help in your business decisions.
The study includes trends and forecasts for the global medical device market by application, function, end use, and region as follows:
By Application [$B shipment analysis from 2015 to 2026]:
- Surgical and Infection Control Devices
- General Medical Devices
- Cardiovascular Devices
- Orthopedic Devices
- Home Healthcare Devices
- Other Devices
By Function [$B shipment analysis from 2015 to 2026]:
- Diagnostic and Monitoring
- Therapeutic
- Surgical
- Other Devices
By End Use [$B shipment analysis from 2015 to 2026]:
- Homecare Medical Devices
- Hospital and Ambulatory Care Medical Devices
By Region [$B shipment analysis from 2015 to 2026]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- APAC
- Japan
- China
- India
- ROW
- Brazil
Some of the medical device companies profiled in this report are Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health.
The analyst forecasts that cardiovascular devices will remain the largest application segment over the forecast period due to the increasing global geriatric population, inactive lifestyle, and poor eating habits. Within the global medical device market, diagnostic and monitoring, therapeutic, and surgical are the major function segments. Surgical and infection control devices will remain the largest function segment over the forecast period due to the increasing number of surgical procedures, the growing aging population, and an increase in incidences of several chronic diseases.
North America will remain the largest region during the forecast period mainly due to a large target patient pool coupled with a high adoption rate for advanced treatments in this region. Asia Pacific is expected to witness the highest growth over the forecast period due to growing health awareness, increasing per capita income, and improving healthcare infrastructure.
Features of the Global Medical Device Market
- Market Size Estimates: Global medical device market size estimation in terms of value ($M) shipment.
- Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments.
- Segmentation Analysis: Global medical device market size by application, function, end use, and region in terms of value.
- Regional Analysis: Global medical device market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different applications, functions, end uses, and regions of the global medical device market.
- Strategic Analysis: This includes M&A, new product development, and the competitive landscape of the global medical device market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions
Q.1 What are some of the most promising growth opportunities for the global medical device market by application (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), function (diagnostic and monitoring, therapeutic, surgical and other devices), end use (homecare medical devices and hospitals and ambulatory care medical devices), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global medical device market?
Q.5 What are the business risks and threats to the global medical device market?
Q.6 What are the emerging trends in this medical device market and the reasons behind them?
Q.7 What are some changing demands of customers in the medical device market?
Q.8 What are the new developments in the medical device market? Which companies are leading these developments?
Q.9 Who are the major players in the medical device market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the medical device market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the global medical device market?
Table of Contents
*Full List of Tables and Figures Available on Enquiry.
Companies Mentioned
- Becton Dickinson and Company
- Cardinal Health Inc.
- General Electric Company
- Johnson and Johnson
- Koninklijke Philips N.V
- Medtronic Public Limited Company
- Siemens AG
- Stryker Corporation
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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