1. Market Research
  2. > Healthcare Market Trends
  3. > Medical Device

Medical Device Industry Overview: Newest Market Reports & Studies

  • Currently 4/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
37 votes

Global Medical Device Market Research

As with most industries, the global medical device industry (a segment of the healthcare industry)  was not untouched by the economic crisis, though it has not deterred the industry’s overall growth. Smaller firms, unable to pick up the slack of product development costs previously covered by venture capital investors - now made more cautious by the economic slump - were obliged to curb their activity. Some other small firms, however, chose to merge with larger firms, thereby continuing technological advances without bearing the full burden of the cost. Domestic and international acquisitions and mergers allow a cross-border sharing of resources and knowledge, facilitating continued medical technology innovation despite the tough economic climate.

More evident challenges to the medical device sector include taxes on products in overseas markets as well as incongruous foreign regulatory controls and varying implementation of standards.

Medical Equipment Key Players & Regional Markets

The medical device industry covers a wide spectrum of products used in the treatment of patients, including cardiovascular devicesin-vitro diagnostic equipment, diagnostic devicesorthopedic devices, respiratory devicesdialysis devicesendoscopic devices, patient monitoring equipment and surgical equipment. In the US, medical devices are recognized as such in a book of public pharmacopeial standards, called the United States Pharmacopeia–National Formulary (USP– NF), and its supplements.

Top names in the industry include such medical technology leaders as Johnson & Johnson, Abbott Labs (ranked 69), Medtronic (ranked 158), Baxter (ranked 192), Boston Scientific, GE Healthcare Technologies, Becton Dickinson, St. Jude, Stryker Corporation and Beckman Coulter.

Regionally speaking, the US is the leading competitor, holding in excess of 40% of the world medical device market, reports Exvere private investment bank. The US is not only an important player in manufacturing and exporting medical device products but also creates about half of global market demand. It imports lower-technology medical device products, with a notable share coming from China, and tends to export higher-technology device products. While the US may see its stakes in the global market rise in the event of taxes being lowered, practices standardized and standards harmonized, it would also see more staunch foreign competition from countries that, even if they lag behind in innovation or expertise, could compete through the cheaper production of lower-technology medical devices.

Growing domestic production of lower-technology devices not just in China but also in India, Korea, Taiwan, and Brazil will help those nations become relative competitors to the US in the future; though the US is set to remain at the top of the higher-technology device market for some time.

While demand for medical devices in developed regions such as Japan, Canada, the EU and the US remains steady with annual growth rates of between 3% and 5%, developing regions are to prove lucrative for US exports, with demand in countries such as India and China showing more than twice the rate of developed countries. China’s sizeable population and healthy economic growth make it an increasingly promising target market. India equally shows potential as an export market for the US medical device sector due to its ever-more affluent population and strong accompanying private healthcare system.

At the moment Germany and the Netherlands are key competitors to the US for market share in higher-technology medical devices. However, some companies, such as Dutch firm Philips Electronics, are not completely independent players in so far as a good deal of their production is carried out in the US.

Medical Device Product Life Cycle

To enter the marketplace, medical devices must comply with pre-defined product life cycle parameters intended to maximize patient safety and ensure the highest quality standards. The product life cycle can be divided into three main phases. The first phase, or early product life cycle, consists of a product concept with its relevant market strategy and financing. The second phase, or the middle product life cycle, involves manufacturing and validation through clinical trials along with packaging and labeling. Lastly, the late product life-cycle phase consists of not only the market launch of the medical device but also market analysis that subsequently impacts on successive generations of the product.

Read more »

Share
24/7 Customer Support

Talk to Sam

+1 646 893 5945

1-10 of about 3700 reports

Global Medical Device Industry - Forecast

  • April 2017
    13 pages
  • Medical Device  

  • World  

    United States  

View report >

Medical Device Forecast Statistics in the US

  • July 2017
    12 pages
  • United States  

    North America  

View report >

The future of the Medical Device Industry in Europe

  • January 2017
    5 pages
  • Medical Device  

  • Europe  

    United Kingdom  

View report >

Medical Device Industry in Asia

  • January 2016
    16 pages
  • Medical Device  

  • Asia  

    World  

View report >

Medical Device Industry in Japan - Forecast

  • January 2017
    19 pages
  • Medical Device  

  • Japan  

View report >

Medical Device Markets in France

  • January 2017
    6 pages
  • Medical Device  

  • France  

    North America  

View report >

Medical Device Industry in the US and Germany - Forecast

  • April 2016
    5 pages
  • Medical Device  

    Medical Device  

  • United States  

    Germany  

    Europe  

View report >

The future of the Medical Device Industry in Estonia and Canada

  • February 2017
    8 pages
  • Medical Device  

  • Estonia  

    Canada  

    Europe  

View report >

Medical Device Industry in Brazil

  • January 2016
    55 pages
  • Medical Device  

  • Brazil  

    South America  

View report >

Medical Device Supply in Russian Federation

  • December 2016
    5 pages
  • Medical Device  

  • Russian Federat...  

View report >


About 12000 reports

Purchase Reports From Reputable Market Research Publishers
(From $ 149 - $ 47500)

Hematology and Flow Cytometry Analyzers and Reagents Market 2021: A 74-Country Analysis--Supplier Shares and Strategies, Test Volume and Sales Segment Forecasts, Technology and Instrumentation Review

  • $ 47500
  • Industry report
  • May 2017
  • by Venture Planning Group

This 74-country survey from VPGMarketResearch.com provides granular data and analysis not available elsewhere. The survey is designed to help current suppliers and potential market entrants identify and ...

Hemostasis Diagnostic Analyzers And Reagents Market 202 ...

June 2017 $ 33500

Coagulation Testing Analyzers And Reagents Market 2021: ...

May 2017 $ 33500

Europe Hematology And Flow Cytometry Analyzers And Reag ...

May 2017 $ 29500

Clinical Chemistry And Immunodiagnostic Analyzers And R ...

July 2017 $ 23500

Competing In The Global Clinical Chemistry And Immunodi ...

June 2017 $ 21800

2017-2021 World Hemostasis Diagnostics Market: Analyzer ...

July 2017 $ 21100

2017-2021 World Coagulation Testing Market: Analyzers A ...

July 2017 $ 21100

Competing In The Global Coagulation Testing Market, 201 ...

June 2017 $ 21100

Competing In The Global Hematology And Flow Cytometry M ...

June 2017 $ 21100

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.