PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1351517
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1351517
Global Medical Devices Reimbursement Market size will expand at 7.3% CAGR between 2023 and 2032, driven by the favorable regulatory environment across several economies. The regulatory landscape significantly impacts medical device reimbursement. Government agencies, such as the FDA in the United States and the European Medicines Agency (EMA) in Europe, establish the approval and reimbursement pathways for medical devices.
Changes in regulations, including the approval process, labeling requirements, and post-market surveillance, can directly impact reimbursement strategies for device manufacturers, leading to market growth and development. For instance, in July 2023, digital devices for remote patient monitoring and digital therapeutics in France are now eligible for expedited access and reimbursement, a process that bears similarities to Germany's DiGA program, as stated by Louisa Stuwe from the French Ministry of Health.
The overall medical devices reimbursement market is segregated based on payer, healthcare setting, and region.
Private payers could register a 7% CAGR from 2023 to 2032 and dominate the medical devices reimbursement market share by 2032 due to their ability to offer more flexibility and customized coverage options. Unlike government-funded programs that often have stringent regulations and limited budgets, private payers can adapt quickly to new technologies and therapies. This adaptability attracts both patients seeking comprehensive coverage and device manufacturers looking for faster reimbursement processes, driving the surge in private payer participation within the medical device reimbursement landscape.
The outpatient facilities segment of the medical devices reimbursement industry could expand at 7.9% CAGR through 2032. There is a growing trend toward providing advanced, minimally invasive procedures in outpatient settings, increasing the need for reimbursable medical devices. Additionally, outpatient facilities are more cost-effective than hospitals, making them an attractive option for both patients and payers. As a result, the increasing demand for outpatient care is fueling the need for medical device reimbursement solutions to support these evolving healthcare delivery models.
Europe medical device reimbursement industry will exhibit a 7% growth rate throughout 2023-2032. Rising healthcare expenditures, an aging population, and the increasing prevalence of chronic diseases are driving demand for innovative medical technologies. European governments are also reforming reimbursement policies to facilitate access to cutting-edge medical devices. Furthermore, the growth of digital health solutions and greater emphasis on value-based care models are contributing to the expansion of the medical device reimbursement sector across Europe.