PUBLISHER: Lucintel | PRODUCT CODE: 1153899
PUBLISHER: Lucintel | PRODUCT CODE: 1153899
Medical Device Market Trends and Forecast
The future of the medical device market looks good with opportunities in hospital and homecare sector. The global medical device market is expected to reach an estimated $466.5 billion by 2027, and it is forecast to grow at a CAGR of 4.8% from 2022 to 2027. The major drivers for market growth are increasing healthcare expenditure, technological development, growing aging population, and chronic diseases.
Emerging Trends in the Medical Device Market
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of AI-Optimized medical devices, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-Printing in medical devices.
A total of 73 figures / charts and 52 tables are provided in this 202-page report to help in your business decisions. A sample figure with some insights is shown below. To learn the scope of, benefits, companies researched and other details of medical device market in the healthcare industry report download the report brochure.
Medical Device Market by Segment
In this market, cardiovascular device is the largest application market, whereas surgical is largest market by function type.
Medical Device Market By Application [$B shipment analysis from 2016 to 2027]:
Medical Device Market By Function [$B shipment analysis from 2016 to 2027]:
Medical Device Market By End Use [$B shipment analysis from 2016 to 2027]:
Medical Device Market By Region [$B shipment analysis from 2016 to 2027]:
United States
Canada
Mexico
Germany
France
United Kingdom
Italy
Spain
Japan
China
India
Brazil
List of Medical Device Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medical device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical device companies profiled in this report includes.
Medical Device Market Insights
Features of the Medical Device Market
FAQ
Q1. What is the medical device market size?
Answer: The global medical device market is expected to reach an estimated $466.5 billion by 2027.
Q2. What is the growth forecast for medical device market?
Answer: The medical device market is expected to grow at a CAGR of ~5% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the medical device market?
Answer: The major drivers for this market are increasing healthcare expenditure, growing aging population, and chronic diseases.
Q4. What are the major applications or end use industries for medical device?
Answer: Homecare, Hospital and Ambulatory Care are the major end use for medical devices.
Q5. What are the emerging trends in medical device market?
Answer: Emerging trends, which have a direct impact on the dynamics of the 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.
Q6. Who are the key medical device companies?
Answer: Some of the key medical device companies are as follows:
Q7. Which medical device product segment will be the largest in future?
Answer: Lucintel forecasts that cardiovascular devices will remain the largest application segment over the forecast period due to increasing global geriatric population, inactive lifestyle, and poor eating habits.
Q8 : In medical device market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region and Asia Pacific expected to witness the highest growth over next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.