Medical Products Market Size By Product (Wheelchairs {Manual Wheelchair [Folding Frame Manual Wheelchairs, Rigid Frame Manual Wheelchairs], Powered Wheelchair}, Medical Beds {Patient Beds, Examination Beds, Massage Beds, Gurneys Beds}, Walkers {Double Handed Walkers, Single Handed Walkers}, Bathroom Assistive Products {Commodes, Bathtub Seats, Shower Seats}, Orthopedics {Cervical Collar Support, Shoulder Support, Arm Sling, Wrist Splint, Abdominal Binder, Maternity Belt, Elastic Bandage, Air Shield Walker, Knee Support), By End-use (Hospitals, Ambulatory Surgical Centers, Home Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Medical Products Market Size

Medical Products Market size exceeded USD 20 billion in 2019 and is poised to grow at a CAGR of over 6% between 2020 and 2026.
 

Growing geriatric population and introduction of technologically advanced products are some of the major factors contributing to the medical products market growth. Also, increasing investment in healthcare infrastructure development and healthcare facilities will boost the market demand.
 

The adoption of medical products has rapidly increased over the previous decade owing to the presence of large number of handicapped and disabled people across the globe. For instance, according to a recent data by World Bank Group, around 15% people across the world experience some form of disability. The higher prevalence of disability in the developing countries will further enhance the market growth. Moreover, increasing elderly population with difficulty in carrying out personal care will fuel the demand for medical products.
 

Medical Products Market Analysis

The wheelchairs segment valuation was over USD 4.6 billion in 2019 due to the increasing number of physiological disorders that require support. Also, owing to the introduction of technologically developed wheelchairs including electric wheelchairs and other wheelchairs capable of storing medical history, the medical products market demand will increase over the coming years.
 

The commodes segment is estimated to expand at a significant growth rate through 2026 on account of the increasing number of bedridden people and growing number of bariatric surgeries across the globe. For instance, according to the recent data by American Society of Metabolic and Bariatric Surgery (ASMBS), in 2017, over 228,000 bariatric surgeries were performed in the U.S. Thus, increasing number of people opting for bariatric surgeries will impel the product demand.
 

The home healthcare segment in the medical products market is predicted to register growth of over 6.4% during the forecast period. The high growth rate is attributed to the advantages such as safety and comfort, less mobility issues to move around and proper care at home.
 

U.S. medical products market revenue was around USD 6.6 billion in 2019 due to the increasing number of sports injuries and recreation-related injuries. For instance, according to the American Orthopaedic Society for Sports Medicine, high school athletes account for over 2 million injuries and 30,000 hospital admissions on an annual basis. Thus, there is an increasing adoption of medical products in the U.S.
 

Moreover, strong presence of major market players and increasing investments for the improvement of healthcare facilities will propel the market growth in the country. For instance, according to the annual analysis by Silicon Valley Bank, in 2018, healthcare venture investment in the U.S. reached USD 9.6 billion. Hence, increase in investment will result in technological advancements that will introduce more effective treatments in the healthcare sector.
 

Germany medical products market size is anticipated to expand at a CAGR of 4.8% till 2026. Increasing disabled population in the region will positively impact the market outlook. For instance, according to a recent data by Federal Statistical Office, over 7.6 million people in the Germany are considered severely disabled. This large patient pool will augment the medical products demand. Also, rise in awareness related to powered wheelchairs coupled with the growing geriatric population across the country will boost the market revenue.
 

Medical Products Market Share

A few key players in the medical products market are :

• Drive Medical
• Invacare
• Medline Industries
• Sunrise Medical

 These industry players are majorly focusing on several strategic developments such as new product launches, mergers, strategic acquisitions, partnerships and collaborations.
 

The medical products market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

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Market, By Product

• Wheelchairs
  • Manual Wheelchair
    • Folding Frame Manual Wheelchairs
    • Rigid Frame Manual Wheelchairs
  • Powered Wheelchair
• Medical Beds
  • Patient Beds
  • Examination Beds
  • Massage Beds
  • Gurney Beds
  • Others
• Walkers
  • Double Handed Walkers
  • Single Handed Walkers
• Bathroom Assistive Products
  • Commodes
  • Bathtub Seats
  • Shower Seats
  • Others
• Orthopedics
  • Cervical Collar Support
  • Shoulder Support
  • Arm Sling
  • Wrist Splint
  • Abdominal Binder
  • Maternity Belt
  • Elastic Bandage
  • Air Shield Walker
  • Knee Support
• Others

Market, By End-use

• Hospitals
• Ambulatory Surgical Centers
• Home Healthcare
• Others

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE