Astute Analytica’s most recent report on Medical Devices Market research explores a wide range of particular, important, and enticing market and industry elements. All of the report’s findings, data, and information were confirmed and revalidated by our sources for market research. An in-depth analysis of the market was carried out by the report’s authors using a research and study methodology that was best in class for the industry. This study analyses industry trends in each sub-segment and anticipates demand, trends, and revenue growth for the local and national markets from 2022 through 2027.

This analysis examines market factors such as market size, economic conditions, market dynamics, and projections. It also offers in-depth details on particular rivals, extension opportunities, and important market drivers. The Medical Devices Market research is divided into companies, regions, types, and applications.

The Global Medical Devices Market size will grow from US$ 412.4 billion in 2021 to US$ 625.3 billion by 2027, registering a tremendous compound annual growth rate (CAGR) of 6.3% during the study period, i.e., 2022-2027.

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Regional Analysis:

According to the United States, Bureau of Labor Statistics, healthcare employment is likely to grow 16% from 2020 to 2030, much faster than the average for all occupations, with about 2.6 million new jobs. This projected increase is primarily due to an aging population, which indicates a higher demand for healthcare services. In May 2021, the median annual wage for healthcare practitioners and technical sectors (such as registered nurses, physicians and surgeons, and dental hygienists) was US$ 75,040, which was higher than the economy’s median annual wage of US$ 45,760.

COVID-19 Impact:

Global COVID-19 cases have climbed above 516 million as of May 2022, and the death toll has exceeded 6.25 million. COVID-19 has disproportionately impacted specific racial and ethnic minority groups, as well as underserved and marginalized communities, highlighting the persistent challenges of health equity and health outcomes.

As sector players and the customers, they serve to adapt to a new world of remote working, virtual doctor visits, and a supply chain plagued by shortages of medical goods, employees, and services, the sector is reforming to become more customer-centric.’

Major Key Players in Global Medical Devices Market are:

  • 3M Co.
  • Abbott Laboratories
  • Allergan Inc.
  • Baxter International Inc.
  • Bayer
  • Becton Dickinson and Co.
  • Boston Scientific Corp.
  • Cardinal Health Inc.
  • Covidien plc
  • Cryolife Inc.
  • Danaher
  • Depuy Synthes
  • Endologix Inc.
  • Essilor International SA
  • Fresenius Medical Care AG & Co. KGAA
  • GE Healthcare
  • Getinge Ab
  • Johnson and Johnson
  • Koninklijke Philips NV
  • Medtronic Inc.
  • Novartis AG
  • Olympus Corp.
  • Roche Diagnostics
  • Siemens Healthcare
  • Smith & Nephew PLC
  • Smiths Medical
  • St. Jude Medical Inc.
  • Stryker Corp. Terumo Corp.
  • Thermo Fisher Scientific
  • Zimmer Holdings Inc.

Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Medical Devices Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market’s overall size.

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Segmentation Overview

By Product

  • Diagnostic Devices
    • Electrodiagnostic Devices
      • Ultrasound Systems
      • Magnetic Resonance Imaging (MRI)
      • Electrocardiographs
      • Scintigraphy Apparatus
      • Other Electrodiagnostic Devices
    • Radiation Devices
      • CT Scanners
      • Other Medical X-ray Apparatus
    • Imaging Parts & Accessories
      • Contrast Media
      • X-ray Tubes
      • Medical X-ray Film
      • Other Imaging Parts & Accessories
  • Consumables
    • Syringes, Needles & Catheters
      • Syringes (with/without needles)
      • Tubular Metal Needles/Needles for Sutures
      • Others
    • Bandages & Dressings
      • Adhesive Medical Dressings
      • Non-adhesive Medical Dressing
    • Suturing Materials
    • Other Consumables
      • Surgical Gloves
      • Ostomy Products
      • Blood-Grouping Reagents
      • First-aid Boxes & Kits
  • Patient Aids
    • Portable Aids
      • Hearing Aids
      • Pacemakers
    • Therapeutic Applications
      • Therapeutic Respiration Devices
      • Mechano-Therapy Devices
    • Others (Endoscope, Defibrillators, CRT Devices, etc.)
    • Orthopedics and Prosthetics
      • Fixation Devices
      • Artificial Joints
      • Other Artificial Body Parts
        • Dental Products
          • Dental Instruments and Supplies
            • Dental Instruments
            • Dental Cement
            • Teeth and Other Fittings
          • Dental Care Equipment
            • Dental Drills
            • Dental Chairs
            • Dental X-Rays
        • Patient Monitoring Devices
  • Other Medical Device Categories
    • Ophthalmic Instruments
    • Hospital Furniture
    • Wheelchairs
    • Medical & Surgical Sterilizers
    • Ultra-violet or Infra-Red Ray Apparatus
    • Other Instruments & Appliances

By Application

  • Oncology
  • Cardiology
  • Orthopedics
  • Ophthalmic
  • Respiratory
  • Urology & Gynecology
  • General &  Plastic Surgery
  • Dental
  • Diabetic Care
  • Wound Management
  • Nephrology
  • General Hospital and Healthcare
  • Ear, Nose, and Throat
  • Others

By End-User

  • Hospitals & Surgical Centers
  • Clinics
  • Household
  • Other End Users

By Geography

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Poland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Argentina
    • Brazil
    • Rest of South America

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