New Jersey, United Kingdom, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Medical Device Market By Type of Device (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic, Dental, Nephrology & Urology, General Surgery, & Others), By End-User (Homecare, Hospitals & Clinics, & Diagnostic Centers), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 - 2026” in its research database
“According to the latest research study, the demand of global Medical Device Market size & share expected to reach to USD 623 Billion by 2026 from USD 471 Billion in 2020, at a compound annual growth rate (CAGR) of 5% during the forecast period 2021 to 2026”
Report Overview & Coverage
Medical devices are apparatus that aid and assist medical practitioners and professionals in a wide range of medical procedures. They often provide medical caregivers the ability to diagnose and treat patients by adding an extra set of mechanical and optical utilities. Their main function is to provide a better quality of life for the ailing patient and help them overcome a particular sickness or disease. Since medical devices are often integrated with life or death situations, they are thoroughly vetted in order to keep up with the global standards of safety by organizations across the world. As such, as a general rule, the more vital the device’s capabilities are, the most testing it goes through before getting approved for usage.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 205+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Medtronic
- Stryker
- Fresenius SE & CO.
- Koninklijke
- F. Hoffman-La Roche Ltd
- Siemens Healthineers AG
- BD
- Boston Scientific Corporation
- Johnson & Johnson Services Inc.
- Abbott Laboratories
- Becton
- Dickinson and Company
- General Electric Company
Key questions answered in this report:
- What is the projected market size & growth rate of the Medical Device Market?
- What are the key driving factors for the growth of the Medical Device Market?
- What are the top companies operative in Medical Device Market?
- What segments are covered in Medical Device Market?
- How can I get free sample report/company profiles of the Medical Device Market?
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Market Growth Drivers:
The major driving forces behind the global medical device market are the increased uptake of investment in the sector coupled with favorable and loosened medical regulations on the approval and testing of these devices. Additional factors include the rise in increasing regional support for the establishment and demand of these devices and the global economy slowing inching towards post-pandemic levels. Furthermore, with the latest trend of the wearable medical device catching on for a larger consumer base, the market is expected to be in a swollen condition during the forecast. Moreover, factors pertaining to the advanced model being introduced by key players in the market, the latest features, optimal prices, and increasing marketing campaigns will propel the growth of the global medical device market over the forecast period.
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Global Medical Device Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 471 Billion |
| Market Forecast for 2026 | USD 623 Billion |
| Expected CAGR Growth | CAGR 5% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Medtronic, Stryker, Fresenius SE & CO., Koninklijke, F. Hoffman-La Roche Ltd, Siemens Healthineers AG, BD, Boston Scientific Corporation, Johnson & Johnson Services, Inc. and Others |
| Segments Covered | Type of Device, End-Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Market Segmentation
On the basis of type of device, the global medical device market can be broken down into orthopedic devices, cardiovascular devices, diagnostic imaging, IVD, MIS, wound management, diabetes care, ophthalmic, dental, nephrology & urology, general surgery, and others (dental equipment & supplies, patient monitoring devices, anesthesia & respiratory devices). The in-vitro diagnostics (IVD) segment is expected to occupy the largest market share during the forecast period owing to factors pertaining to the increasing prevalence of chronic and infectious diseases such as cancer, diabetes, and HIV/AIDS among others. The wound care segment is expected to occupy a significant market share as well owing to crediting factors such as rising investment by medical device companies for introducing the latest iteration of wound care devices and bioactive therapies in the market.
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Recent Developments
Here are some noteworthy developments occurring in the global medical device market during the forecast:
- Koniklijke Philips recently acquired the U.S.-based cardiac diagnostic and monitoring company BioTelemetry in order to expand aggressively into the sector of remote care products.
- Smith & Nephew recently collaborated with Movemedical in order to expand their portfolio to automated solutions and improve the customer care experience.
- Koniklijke Philips N.V launched the abdominal aortic aneurysm (AAA) model for assisting medical physicians with a more patient-friendly approach for managing long-term solutions for AAA patients.
Browse Press Release at, Global Medical Device Market, 2021-2026
Regional Dominance:
- North America Will Exhibit The Largest Market Share During The Forecast Period
North America is expected to occupy the largest market share during the forecast in terms of global revenue collection with recent trends indicating the market to occupy a 35% market share. Factors pertaining to the aggressive market position in the region can be credited to the larger presence of key players in the region, rising healthcare infrastructure, rapid adoption of advanced medical technologies, and favorable regulations surrounding these devices will boost the growth of the market in the region. Europe is expected to witness the fastest growing CAGR during the forecast timeframe owing to a well-established healthcare system and increased adoption of advanced diagnostic and treatment devices to name a few.
Browse the full report “Global & Regional Medical Device Market Size Report – Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/medical-device-market
The global medical device can be segmented on the basis of:
Global Medical Device Market: By Type of Device Segment Analysis
- Orthopedic Devices
- Cardiovascular Devices
- Diagnostic Imaging
- IVD
- MIS
- Wound Management
- Diabetes Care
- Ophthalmic
- Dental
- Nephrology & Urology
- General Surgery
- Others
- Dental Equipment & Supplies
- Patient Monitoring Devices
- Anesthesia & Respiratory Devices)
Global Medical Device Market: By End-Users Segment Analysis
- Homecare
- Hospitals & Clinics
- Diagnostic Centers
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