Medical Devices Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Netherlands, Switzerland, Belgium, Sweden, Austria, Ireland, Poland, Denmark, Finland, Turkey, China, Japan, India, Australia, South Korea, Taiwan, Singapore, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, South Africa, Saudi Arabia, UAE, Qatar, Kuwait, Oman, Egypt, Iran, Iraq, Israel), Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Report ID: GMI4546




Summary Methodology

Medical Devices Market size is projected to experience substantial progress from 2020 to 2026. Medical devices consist of instruments, apparatus, machine, implants, invitro reagents among others that is intended for use in the diagnosis or other conditions. These devices are also used in the process of cure, treatment or prevention of disease in man or other animals. Large- and small-scale medical device companies play a role in the development of new medical devices. Start-up companies that develop promising new products are often acquired by one of the large medical device companies. Thus, owing to these developments medical device industry is projected to witness a significant growth in the upcoming years.
 

Medical Devices Market

Get more details on this report - Request Free Sample PDF
 

Growing technological advancements and rising interest of medical technology companies in the research & development activities of new generation medical devices are propelling the market growth. Furthermore, receiving a regulatory approval for the new product will further enhance the medical device industry in the coming years. The recently launched technologies in 2019 that has spurred the growth of the industry are smart inhalers, wireless brain sensors, robotic surgeries, 3-D printing, precision medicine, health wearables, artificial organs telehealth, virtual reality and CRISPR technology. Hence, owing to these newly launched technologies medical device market is projected to witness a lucrative growth in the upcoming years.
 

Medical devices offer several advantages to patients in improving diagnosis and treatment, support remote monitoring of chronic diseases, enhance patient safety and drug management, facilitate better long-term disease management and assist in reducing the costs while improving patient care outcomes. The growing prevalence of chronic diseases coupled with growing geriatric population with rise in surgical procedures are anticipated to bolster the market growth over the forecast period.
 

On the basis of product, the medical devices market is segmented into orthopedic devices, cardiovascular devices, ophthalmic devices, neurology devices, diagnostic imaging devices, neonatal infant care and others. Cardiovascular devices are anticipated to witness the substantial growth in the upcoming years. This is owing to the growing prevalence of cardiovascular devices and technological advancements that are fostering the market growth. The growing demand for cardiac implants is further enhancing the cardiovascular devices industry size.
 

On the basis of device type, the market is bifurcated into reusable device and disposable devices. Disposable devices are expected to witness a lucrative growth in the upcoming years. The high share is attributed to the fact that it does not go under reprocessing and assist in preventing transmission of diseases. Furthermore, disposable devices save time and enhance efficiency, by certifying that procedures are not rescheduled owing to missing or unsatisfactory devices.
 

Based on end-use, the market is segmented as hospitals, ambulatory surgical centers, diagnostic centers, research laboratories, academic institutes and clinics. The medical devices market from hospitals segment is expected to witness a lucrative growth in the upcoming years. The high market share is attributed to the several reasons including growing healthcare expenditures, developing healthcare infrastructure, and lucrative reimbursement policies.
 

U.S. medical devices market is estimated to hold a majority market share in the upcoming years owing to the favourable reimbursement scenario that led to higher adoption of medical devices among patients in the country. Growing incidences of chronic diseases such as diabetes, cardiovascular diseases, stroke among others are increasing across the globe that has further led to the adoption of the imaging equipment medical devices. Rising number of trauma and sports injuries is further propelling the demand for orthopedic devices market. Hence, owing to these factors the medical devices industry in the country is expected to witness a substantial growth in the upcoming years.
 

Some of the major market players involved in the medical devices market share are 3M, Abbott, Alcon, B.Braun, Baxter, Becton, Dickinson and Company, Boston Scientific, Cardinal Health, Danaher, ESSILOR, Fresenius Medical Care, GE Healthcare, Johnson & Johnson, Medtronic, Olympus, Philips Healthcare, Siemens Healthineers, Stryker, Terumo, and Zimmer Biomet. The key players are emphasizing on major industry strategies such as mergers & acquisitions, collaborations & partnerships, product launches and are also taking a few initiatives to maintain a competitive edge in the market. For instance, in January 2020, Abbott announced the CE Mark approval of its product Tendyne (Transcatheter Mitral Valve Implantation) in Europe.
 

Medical Devices Market, By product, 2015-2026 (USD Million)

  • Orthopedic Devices
  • Cardiovascular Devices
  • Ophthalmic Devices
  • Neurology Devices
  • Dental Devices
  • Diagnostic Imaging Devices
  • Neonatal Infant Care
  • Others

Medical Devices Market, By device type, 2015-2026 (USD Million)

  • Reusable Devices
  • Disposable Devices

Medical Device Market, By end-use, 2015-2026 (USD Million & Units)

  • Hospitals
  • Ambulatory surgical centers
  • Diagnostic centers
  • Research laboratories
  • Academic institutes
  • Clinics
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain,
    • Italy
    • Netherlands
    • Switzerland
    • Belgium
    • Sweden
    • Austria
    • Ireland
    • Poland
    • Denmark
    • Finland
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Taiwan
    • Malaysia
    • Singapore
  • Latin America
    • Argentina
    • Mexico
    • Brazil
    • Columbia
    • Chile
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Qatar
    • Kuwait
    • Oman
    • Egypt
    • Iran
    • Iraq

What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Customize this Report

Pre Book Now

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Request Discount

Our Market Research Reports Include:

  • Market snapshot
  • Market Segmentation
  • Value Chain Analysis
  • Growth Dynamics
  • Potential Market Opportunities
  • Regulatory Overview
  • Technology Evolution
  • Innovation & Sustainability

Connect with our sales team

GMIPulse Subscription Trial

Take a free trial of GMIPuse, our report store; designed to provide clients a range of market research services, all on a single platform.

Start Your Free Trial

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X