The Global Medical Devices Market to Register Incremental Growth at a CAGR of 5.2% by 2030| Growth Plus Reports

| Source: Growth Plus Reports Growth Plus Reports

Pune, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The global medical devices market is expected to clock US$ 1004.41 million by 2030 at a CAGR of 5.2% from 2022 to 2030, owing to the rapid integration of advanced technologies and diversified funding support base, states Growth Plus Reports

Due to their wide application base in diagnosis, monitoring, treatment, and management of almost every medical condition, medical devices are a fundamental component of the healthcare system, worldwide. The global medical devices market holds a strong position in the healthcare industry, progressing at the fastest CAGR and continued growth is expected in the coming years. This growth can be attributed to the continuous progress in medical technologies, growing incidence of chronic diseases, and growing healthcare expenditure.

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Market Drivers

Medical devices form one of the largest market segments in the healthcare system. Additionally, this market has experienced significant growth in recent years. This growth can be attributed to the growth in chronic disease prevalence, the rising aged population, and rapid growth in public awareness. Furthermore, continuous urbanization and the advent of new technologies have also contributed to market development. Additionally, the rapid growth in healthcare expenditures in different regions (Asia Pacific, Eastern Europe, Latin America, and the Middle East & Africa) further accelerates the growth rate of the medical devices market.

The global medical devices market has been analyzed from three different perspectives – Class, Type, End-User, and Region.

Excerpts from ‘By Class Segmentation’

The global medical devices market has been classified into three categories namely:

  • Class I
  • Class II
  • Class III

Class II holds the largest revenue share in the global medical devices market. Class II devices have moderate to high levels of risk and need special controls. Most of the medical devices come under the class II category, thereby resulting in the dominance of this segment in the medical devices market. From a simple device such as a syringe to the most sophisticated devices such as medical imaging systems come under this category.

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Excerpts from ‘By Region Segmentation’

Geographically, the global medical devices market has been segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

North America is expected to retain its command as the largest regional market, followed by the Asia Pacific and Europe. The dominance of North America is attributed to the large pool of baby boomers, the large pool of chronic disease patients, the presence of state-of-the-art healthcare infrastructure, and the domicile of a multitude of MedTech companies in the U.S. While the Asia Pacific region is emerging as the fastest developing market for medical devices. The growth of the Asia Pacific market can be owed to a large patient base, growth in an elderly population, and rising strategic expansion of the medical devices industries. Furthermore, development in infrastructure, growth in healthcare expenditure, and rise in government initiatives also accelerate the medical devices market growth in the Asia Pacific region

Excerpts from ‘Competitive Landscape’

Some of the prominent players operating in the global medical devices market are:

  • Koninklijke Philips N.V
  • General Electric Company (G.E Healthcare)
  • Medtronic Plc
  • Johnson & Johnson Private Limited
  • Siemens Healthineers AG
  • Abbott Laboratories Inc
  • Fresenius SE & Co. KGaA
  • Becton
  • Dickinson and Company
  • Stryker Corporation
  • Abiomed Inc
  • Among others

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology 
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trend (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021)
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints
    3. Opportunities
  5. GLOBAL MEDICAL DEVICES MARKET- ANALYSIS & FORECAST, BY CLASS
    1. Class I
    2. Class II
    3. Class III
  6.  GLOBAL MEDICAL DEVICES MARKET- ANALYSIS & FORECAST, BY TYPE
    1. Respiratory Devices 
    2. Orthopedic Devices
    3. Cardiovascular Devices
    4. Diagnostic Imaging Devices
    5. IVD Devices (in-Vitro Diagnostic)
    6. Ophthalmic Devices
    7. Diabetes Care Devices
    8. Wound Management Devices
    9. Dental Devices
    10. Endoscopic Devices
    11. Others (Nephrology, Gynecology, General Surgery Devices, ENT Devices, etc.)
  7. GLOBAL MEDICAL DEVICES MARKET- ANALYSIS & FORECAST, BY END-USERS
    1. Hospitals & Clinics
    2. Ambulatory Centers
    3. Diagnostic Centers
    4. Research and Academia 
  8. GLOBAL MEDICAL DEVICES MARKET- ANALYSIS & FORECAST, BY REGION
    1. North America Medical Devices Market
      1. North America Medical Devices Market, by Class
      2. North America Medical Devices Market, by Types
      3. North America Medical Devices Market, by End-Users
      4. North America Medical Devices Market, by Country
        1. U.S.
          1. U.S. Medical Devices Market, by Class 
          2. U.S. Medical Devices Market, by Types
          3. U.S. Medical Devices Market, by End-Users
        2. Canada
          1. Canada Medical Devices Market, by Class 
          2. Canada Medical Devices Market, by Types
          3. Canada Medical Devices Market, by End-Users

TOC Continued…

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                                Medical Devices Market
                            
                            
                                Medical Devices Market Size
                            
                            
                                Medical Devices Market Growth
                            

                



        


    

        
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