Medical Device Market Report: Trends, Forecast and Competitive Analysis
The future of the medical device market looks good with opportunities in hospital and homecare sector. The medical device market is expected to reach an estimated $432.6 billion by 2025, and it is forecast to grow at a CAGR of 4.1% from 2020 to 2025. The major drivers for market growth are increasing healthcare expenditure, technological development, growing aging population, and chronic diseases.
Emerging trends, which have a direct impact on the dynamics of the medical device industry, include increasing use of AI-Optimized medical device, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-Printing in medical devices.
A total of 80 figures / charts and 53 tables are provided in this 177 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of medical device market report download the report brochure.
The study includes the medical device market size and forecast for the medical device market through 2025, segmented by application, function, end use, and region, as follows:
Medical Device Market by Application [$B shipment analysis from 2014 to 2025]:
Surgical and Infection Control Devices General Medical Devices Cardiovascular Devices Orthopedic Devices Home Healthcare Devices Other Devices
Medical Device Market by Function [$B shipment analysis from 2014 to 2025]:
Diagnostic and Monitoring TherapeuticSurgicalOther Devices
Medical Device Market by End Use [$B shipment analysis from 2014 to 2025]:
Homecare Medical DeviceHospital and Ambulatory Care Medical Device
Medical Device Market by Region [$B shipment analysis from 2014 to 2025]:
North AmericaUnited StatesCanadaMexicoEuropeGermanyFranceUnited KingdomItalySpainAPACJapanChinaIndiaROWBrazil
Some of the medical devices companies profiled in this report include Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health and others.
On the basis of comprehensive research, Lucintel forecasts that cardiovascular device will remain the largest segment over the forecast period due to increasing geriatric population, inactive lifestyle, and poor eating habits.
Within the medical device market, diagnostic and monitoring, therapeutic, and surgical are the major function segments. Surgical device will remain the largest segment over the forecast period due to increasing number of surgical procedures, growing aging population, and increase in incidence of several chronic diseases.
North America will remain the largest region during the forecast period mainly due to a large target patient pool coupled with a high adoption rates for advanced treatments in this region. Asia Pacific is expected to witness the highest growth over the forecast period due to growing health awareness, increasing per capita income, and improving healthcare infrastructure.
Some of the features of “Medical Device Market Report: Trends, Forecast and Competitive Analysis” include:
Market size estimates: Medical device market size estimation in terms of value ($B) shipment.Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by region, application and end user industry Segmentation analysis: Medical device market size by application, function, and end use in terms of value and volume shipment.Regional analysis: Medical device market breakdown by key regions such as North America, Europe, and Asia & Rest of World.Growth opportunities: Analysis on growth opportunities in different applications and regions of medical device in the medical device market.Strategic analysis: This includes M&A, new product development, and competitive landscape of medical device in the medical device market.Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report addresses the following key questions:
Q.1. What are some of the most promising, high growth opportunities for the medical device market by application (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), by function (diagnostic and monitoring, therapeutic, surgical and other devices), by end use (homecare medical device and hospital and ambulatory care medical device), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this medical device market?
Q.5. What are the business risks and competitive threats in this medical device market?
Q.6. What are the emerging trends in this medical device market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the medical device market?
Q.8. What are the new developments in the medical device market and which companies are leading these developments?
Q.9. Who are the major players in this medical device market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this medical device market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last 5 years in this medical device market?
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