Medical Devices: Technologies and Global Markets

Report Code: HLC170F

Publish Date: Oct 2024

Publisher: BCC Publishing

Category: Health Maintenance

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Report Highlights

The global market for medical devices reached $739.6 billion in 2023. It is expected to grow from $810.4 billion in 2024 to $1.3 trillion by the end of 2029, at a compound annual growth rate (CAGR) of 9.8% from 2024 through 2029.

Report Includes

  • 58 data tables and 58 additional tables
  • An analysis of the current and future global markets and technologies for medical devices
  • Analyses of global market trends, with market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
  • Estimates of the market size and revenue forecasts for the global medical device market, with market share analysis by device types and subtypes, end-user, and region
  • Discussion of the market dynamics, opportunities, and challenges, as well as emerging technologies
  • Discussion of key regulations of the industry and coverage of advancements and recent innovations in the medical device industry
  • Overview of sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG rankings, and consumer attitudes
  • Competitive intelligence, including companies’ market shares, recent M&A activity, and venture funding.
  • Profiles of the leading companies, including Abbott, BD, Danaher Corp., Medtronic and F. Hoffmann-La Roche Ltd.

Report Scope

This report provides an in-depth analysis of the market for medical device technology, including market estimations and trends through 2029. Major players, competitive intelligence, innovative technologies, market dynamics, and regional opportunities are discussed in detail. The report examines recent developments and product portfolios of major players. The report covers drivers, restraints, opportunities, emerging technologies, and a regulatory scenario assessment. The report includes market projections for 2029 and market shares for key players.

The report’s scope extends to only those medical device technologies that generate the most global revenue. Dental device technologies and some imaging devices used in dentistry overlap with other devices that are already covered under the imaging device technologies segments, so these have been excluded.

Based on device type, the market is segmented into drug delivery devices, in vitro diagnostics (IVD), urology and renal, orthopedics and spine, imaging devices, cardiovascular devices, and endoscopy. The imaging devices are categorized into X-ray systems, ultrasound systems, computed tomography, magnetic resonance imaging, clinical/point of care, interventional radiology, nuclear medicine/positron emission tomography, and laser imaging. Based on type of in vitro device, the market is segmented into immunochemistry, clinical chemistry, molecular diagnostics, point-of-care tests, and hematology. Based on type of cardiovascular device, the market is segmented into defibrillators, pacemakers, ventricular-assist devices, loop recorders, and others. Based on type of end user, the market is segmented into hospitals and clinics, home healthcare, ambulatory surgical centers, and diagnostic centers.

The market is segmented by geographical region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Also included in the geographic breakdown are detailed analyses of major countries such as the U.S., Germany, the U.K., Italy, France, Spain, Japan, China, India, Brazil, Mexico, and Gulf Cooperation Council (GCC) countries. For market estimates, data is provided for 2023 as the base year, with estimates for 2024 and a forecast value for 2029.

Report Synopsis

Report Metrics Details
Base year considered 2023
Forecast period considered 2024-2029
Base year market size $739.6 Billion
Market size forecast $1.3 Trillion
Growth rate CAGR of 9.8% from 2024 to 2029
Units considered $ Millions
Segments covered By Device Type, End-user, and Region
Regions covered North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Countries covered U.S., Canada, Mexico, Brazil, Germany, France, U.K., Spain, Italy, Japan, China, India, Australia and New Zealand (ANZ), and GCC countries
Key Market Drivers
  • Rise in the aging population and diagnosis procedures
  • Increasing use of artificial intelligence in medical devices
  • Rising incidence of chronic diseases
  • Need for improving public health
  • Improving disease diagnosis
  • Increased patient education
Companies studied
3MABBOTT
BDBAYER AG
BAXTERBOSTON SCIENTIFIC CORP.
DANAHER CORP.F. HOFFMANN-LA ROCHE LTD.
GE HEALTHCAREJOHNSON & JOHNSON SERVICES INC.
KONINKLIJKE PHILIPS N.V.MEDTRONIC
QUIDELORTHO CORP.SIEMENS HEALTHINEERS AG
STRYKERTHERMO FISHER SCIENTIFIC INC.
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Frequently Asked Questions (FAQs)

The market is projected to grow from $739.6 billion in 2023 to $1.3 trillion by 2029, at a compound annual growth rate (CAGR) of 9.8% during the forecast period.
The medical device technology and global market is segmented based on Device Type, End-user, and Region.
By device type, drug delivery devices segment is anticipated to dominate the market by the end of 2029.
Imaging devices and cardiovascular devices are the fastest-growing market.

Analyst Credentials

Partha Sarathi Das– Associate Consultant-Life Science Research
Partha Sarathi has an experience of nearly a decade in multiple domains, including healthcare, life science, biotechnology, pharmaceuticals, and healthcare IT. His expertise is in designing research studies, gathering data, and performing analysis, ultimately providing clients with actionable insights and recommendations based on their unique business needs. Designs proposal and participates in client queries for quick delivery based on their unique business needs. Academically, Parthasarathi holds a master’s degree in Biotechnology and a bachelor’s degree in Industrial Biotechnology.

Consulting Editor’s Credentials

Jason Chen has been an analyst and consultant for the polymer, composite, fibre, textile and energy industries for 19 years. He works as a researcher, writer and/or editor for the American Composites Manufacturers Association (ACMA), China Textile Academy (CTA), China Chemical Fiber Association (CCFA), International Fiber Journal, Filtration News, Platts Emission Daily, Vision Systems Design, Pesticide and Toxic Chemical News and MobileTex. He has a degree in Civil Engineering, Chemicals and Advanced Materials from Shantou University.

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Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Medical Devices: Technologies and Global Markets179Free
Chapter- 1: Executive Summary4Free
Chapter- 2: Market and Technology Background12Free
Chapter- 3: Market Dynamics8Free
Chapter- 4: Emerging Technologies and Developments6Free
Chapter- 5: Market Segmentation Analysis70Free
Chapter- 6: Competitive Intelligence8Free
Chapter- 7: Sustainability6Free
Chapter- 8: Appendix65Free
Published - Sep-2022| Analyst - BCC Publishing| Code - HLC170E

Report Highlights

The global market for medical device technologies is valued at $639.1 billion in 2021 and is estimated to grow from $676.0 billion in 2022 to $953.4 billion in 2027 with a compound annual growth rate (CAGR)of 7.1% for the period of 2022-2027.

Published - Feb-2021| Analyst - BCC Publishing| Code - HLC170D

Report Highlights

The global market for medical device technologies should grow from $605.7 billion in 2020 to $796.9 billion by 2025 with a compound annual growth rate (CAGR) of 5.6% for the period of 2020-2025.

Published - Mar-2018| Analyst - Vijay Laxmi| Code - HLC170C

Report Highlights

The global market for medical devices technologies reached nearly $521.2 billion in 2017 and should reach $674.5 billion by 2022, at a compound annual growth rate (CAGR) of 5.3% for the period of 2017-2022.

Published - Jan-2017| Analyst - Vijay Laxmi| Code - HLC170B

Report Highlights

The global market for medical device technologies reached $458.3 billion in 2015. The market should reach $483.5 billion in 2016 and $634.5 billion by 2021, growing at a compound annual growth rate (CAGR) of 5.6% from 2016 to 2021.

Published - Sep-2014| Analyst - Vijay Laxmi| Code - HLC170A

Report Highlights

BCC Research estimates the global market for medical device technologies as $390.3 billion in 2012. This indication has reached $411.8 billion in 2013 and is expected to reach $538.7 billion in 2018, registering a compound annual growth (CAGR) of 5.5% over the next five years.

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Medical Devices: Technologies and Global Markets
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