Summary
Trends, opportunities, and forecast in medical device market to 2025 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)
The future of the medical device market looks good with opportunities in hospital and homecare sector. The global medical device market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $426.2 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. The major drivers for market growth are increasing healthcare expenditure, technological development, growing aging population, and chronic diseases.
Emerging trends, which have a direct impact on the dynamics of the medical device industry, include increasing use of AI-Optimized medical device, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-Printing in medical devices.
In this carket, cardiovascular device is the largest application segment of medical device, whereas surgical is the largest function. Growth in various segments of the medical device market are given below:
Medical Device Market by Segments
The study includes the medical device market size and forecast for the medical device market through 2025, segmented by application, function, end use, and region, as follows:
Medical Device Market by Application [$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 [$B shipment analysis from 2014 to 2025]:
• Diagnostic and Monitoring
• Therapeutic
• Surgical
• Other Devices
Medical Device Market by End Use [$B shipment analysis from 2014 to 2025]:
• Homecare Medical Device
• Hospital and Ambulatory Care Medical Device
Medical Device Market by Region [$B shipment analysis from 2014 to 2025]:
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• APAC
• Japan
• China
• India
• ROW
• Brazil
Some of the medical devices companies profiled in this report include Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health and others.
On the basis of comprehensive research, The analyst forecasts that cardiovascular device will remain the largest segment over the forecast period due to increasing geriatric population, inactive lifestyle, and poor eating habits.
Within the medical device market, diagnostic and monitoring, therapeutic, and surgical are the major function segments. Surgical device will remain the largest segment over the forecast period due to increasing number of surgical procedures, growing aging population, and increase in incidence of several chronic diseases.
North America will remain the largest region during the forecast period mainly due to a large target patient pool coupled with a high adoption rates for advanced treatments in this region. Asia Pacific is expected to witness the highest growth over the forecast period due to growing health awareness, increasing per capita income, and improving healthcare infrastructure.
Some of the features of this report:
• Market size estimates: Medical device market size estimation in terms of value ($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?
Report Scope
Key Features Description
Base Year for Estimation 2019
Trend Period
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Pages 177
Market Representation / Units Revenue in US $ Billion and Volume in Million Units
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments 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), and By end use (homecare medical device and hospital and ambulatory care medical device)
Regional Scope North America (United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, and Spain), Asia Pacific (Japan, China, and India), and RoW (Brazil)
Customization 10% Customization Without any Additional Cost
