Global Medical Devices Market

Medical Devices Market by Types of Devices (Respiratory Devices, Cardiology Devices, Orthopedic Devices, Diagnostic Imaging Devices (Radiology Devices), Endoscopy Devices, Ophthalmology Devices, and Others) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1541
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 194
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The global medical devices market size was valued USD 504.85 Billion in 2020 and is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing healthcare awareness and improving healthcare infrastructure.

Global Medical Devices Market summary

Medical devices are intended for diagnosis of disease and are used for mitigation, treatment, or prevention of disease. Medical devices do not attain intended purposes through chemical action and are not dependent on any metabolic process. These devices improve patient’s quality of life.

Medical devices are safe to use for medical professionals. Any issues with devices can be identified and prevented to avoid harm to patients. The medical devices create transparent and integrated data, which in turn, improves outcome and product safety. The information collected by the system from medical devices support the work of clinical professionals to collect the monitoring of the performance of devices.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising chronic diseases and infectious diseases is anticipated to drive the market growth.
  • Increasing geriatric population is projected to fuel the market expansion during the forecast period.
  • Growing demand for minimal invasive processes among the patients is expected to spur the market growth.
  • High demand for hospital supplies, in-vitro diagnostic devices, and respiratory care devices is estimated to boost the market expansion during the forecast period.
  • The COVID-19 pandemic has increased the demand for diagnostic and monitoring medical devices, creating lucrative opportunities for the industry players.
  • High cost in manufacturing process is anticipated to hamper the market expansion in the coming years.
  • Ongoing technological advancements in medical devices is estimated to create lucrative opportunities for the market expansion.

Scope of the Report

The report on the global medical devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Medical Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types of Devices (Respiratory Devices, Cardiology Devices, Orthopedic Devices, Diagnostic Imaging Devices (Radiology Devices), Endoscopy Devices, Ophthalmology Devices, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott Laboratories Inc, F. Hoffmann-La Roche Ltd, Stryker Corporation, Siemens Healthineers (Siemens AG), and Koninklinje Philips NV.

Medical Devices Market Segment Insights

Cardiology devices segment to account a large market share

Based on types of devices, the market is divided into respiratory devices, cardiology devices, orthopedic devices, diagnostic imaging devices (radiology devices), endoscopy devices, ophthalmology devices, and others. The cardiology devices segment is expected to account for a major market share in the coming years. Rising incidence of coronary heart diseases, such as stroke and cardiomyopathy is driving the segment growth. Diagnostic & monitoring, therapeutic, and surgical devices are the three main types of cardiology devices.  Electrocardiogram (ECG), defibrillators, pacemakers, cardiac rhythm management devices, catheter, grafts, heart valves, and stents are extensively used as cardiovascular devices. In July 2021, AliveCor received the US FDA’s approval for KardiaMobile 6L device and the first six-lead personal ECG device that uses a form factor to collect maximum information.  Increasing number of elderly population is increasing the demand for cardiovascular diseases across the globe.

Global Medical Devices Market types

North America to dominate the market

On the basis of regions, the medical devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market and is expected to expand at a high CAGR during the forecast period. The regional market growth can be attributed to higher investment for product innovation and continuous development of existing technologies. The US is anticipated to constitute for a large market share in North America due to increasing adoption rate of telemedicine and mobile health.

Global Medical Devices Market region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Medical Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Medical Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Medical Devices Market - Supply Chain
  4.5. Global Medical Devices Market Forecast
     4.5.1. Medical Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Medical Devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Medical Devices Market Absolute $ Opportunity
5. Global Medical Devices Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Medical Devices Market Size and Volume Forecast by Types
     5.3.1. Respiratory Devices
     5.3.2. Cardiology Devices
     5.3.3. Orthopedic Devices
     5.3.4. Diagnostic Imaging Devices (Radiology Devices)
     5.3.5. Endoscopy Devices
     5.3.6. Ophthalmology Devices
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Medical Devices Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Medical Devices Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Medical Devices Demand Share Forecast, 2019-2026
7. North America Medical Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Medical Devices Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Medical Devices Market Size and Volume Forecast by Types
     7.4.1. Respiratory Devices
     7.4.2. Cardiology Devices
     7.4.3. Orthopedic Devices
     7.4.4. Diagnostic Imaging Devices (Radiology Devices)
     7.4.5. Endoscopy Devices
     7.4.6. Ophthalmology Devices
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Medical Devices Demand Share Forecast, 2019-2026
8. Latin America Medical Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Medical Devices Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Medical Devices Market Size and Volume Forecast by Types
     8.4.1. Respiratory Devices
     8.4.2. Cardiology Devices
     8.4.3. Orthopedic Devices
     8.4.4. Diagnostic Imaging Devices (Radiology Devices)
     8.4.5. Endoscopy Devices
     8.4.6. Ophthalmology Devices
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Medical Devices Demand Share Forecast, 2019-2026
9. Europe Medical Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Medical Devices Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Medical Devices Market Size and Volume Forecast by Types
     9.4.1. Respiratory Devices
     9.4.2. Cardiology Devices
     9.4.3. Orthopedic Devices
     9.4.4. Diagnostic Imaging Devices (Radiology Devices)
     9.4.5. Endoscopy Devices
     9.4.6. Ophthalmology Devices
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Medical Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Medical Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Medical Devices Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Medical Devices Market Size and Volume Forecast by Types
     10.4.1. Respiratory Devices
     10.4.2. Cardiology Devices
     10.4.3. Orthopedic Devices
     10.4.4. Diagnostic Imaging Devices (Radiology Devices)
     10.4.5. Endoscopy Devices
     10.4.6. Ophthalmology Devices
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Medical Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Medical Devices Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Medical Devices Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Medical Devices Market Size and Volume Forecast by Types
     11.4.1. Respiratory Devices
     11.4.2. Cardiology Devices
     11.4.3. Orthopedic Devices
     11.4.4. Diagnostic Imaging Devices (Radiology Devices)
     11.4.5. Endoscopy Devices
     11.4.6. Ophthalmology Devices
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Medical Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Medical Devices Market: Market Share Analysis
  12.2. Medical Devices Distributors and Customers
  12.3. Medical Devices Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Abbott Laboratories Inc
     12.4.2. F. Hoffmann-La Roche Ltd
     12.4.3. Stryker Corporation
     12.4.4. Siemens Healthineers (Siemens AG)
     12.4.5. Koninklinje Philips NV

Segments Covered in the Report
The global medical devices market has been segmented on the basis of
Types of Devices

  • Respiratory Devices
  • Cardiology Devices
  • Orthopedic Devices
  • Diagnostic Imaging Devices (Radiology Devices)
  • Endoscopy Devices
  • Ophthalmology Devices
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Abbott Laboratories Inc
  • F. Hoffmann-La Roche Ltd
  • Stryker Corporation
  • Siemens Healthineers (Siemens AG)
  • Koninklinje Philips NV

 

Key players competing in the medical devices market include Abbott Laboratories Inc, F. Hoffmann-La Roche Ltd, Stryker Corporation, Siemens Healthineers (Siemens AG), and Koninklinje Philips NV.

Global Medical Devices Market keyplayers

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