Medical Device Technologies Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Medical Device Technologies Market: By devices (Neurostimulators, Insulin pumps, Passive implants, Orthopaedic implants, Cochlear implants, Pacemakers, Cardiac devices, Kidney device, Endoscopy devices, Diagnostic and imaging devices, Others), By application (Disease diagnosis, Identification, Prevention, Imaging), end user (Diagnostic centres, Multi-speciality hospitals, Ambulatory surgical centre, Research centres) and Geography  

 

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Report

Description

The global medical device technologies market size valued USD 558.4 million 2020 and expected to reach USD 757.4 million by 2027, at a CAGR of 5.4% during the forecast period 2021-2027. An article, instrument, apparatus or machine that is used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for some health purpose is known as a medical device. Typically, the purpose of a medical device is not achieved by pharmacological, immunological or metabolic means. Medical devices require maintenance, calibration, user training, decommissioning and repair which are predominantly handled by the clinical engineers. Medical devices are used for certain purposes of treatment, rehabilitation and diagnosis of diseases or injuries may be used alone or in association with any other accessories, consumables or other medical equipment. The medical device technologies market is expected to show significant growth during the foreseen period due to huge unmet needs in the healthcare sector. Currently, many clinics and hospitals are positioning automatic processes to diminish errors and also to achieve fast and accurate data analysis. Medical device companies are spending huge amounts of investments for quality product development and to enhance product portfolio by developing respiratory products, medical imaging devices, orthopaedic implants, vascular drug-eluting stents microelectronics, bio-materials etc.

Medical Device Technologies Market

MARKET SUMMARY
-
5.4% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 5.4%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Medical Device Technologies Market

  • The report on global medical device technologies market gives historical, current and future market sizes (US$ Mn) based on devices, application, end users and geographical regions.
  • medical device technologies market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Becton, Dickinson and Company
  • Abbott Laboratories, Inc.
  • bioMerieux, Inc.
  • Biomerica, Inc
  • Novartis AG
  • Olympus Corporation
  • Qiagen N.V.
Medical Device Technologies Market

Drivers And Restraints

Increase in advanced technologies, rise and prevalence of chronic diseases such as cardiovascular diseases, cancer, and COPD are expected to create demand for medical device technologies market. Rise in an ageing population, a high need of preventive health care, a rise in awareness about health concerns and changes in lifestyles of people are few factors which are expected to propel the growth of global medical devices technologies market. However, stringent government regulations, increased taxes on the products, increase in technology piracy incidence rate, a rise in the cost of devices and services are restraints of the market.


North-America got significant share

Medical Device Technologies Market

Medical Device Technologies Market is segmented as North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America. North America followed by Europe, are the dominating market medical device technologies market owing to advancements in the technologies, and the region is being the residence for the many major companies. Asia-Pacific is accounted as emerging region due to robust growth in economy forecasted in some of the Asian countries such as Japan, China, India and Malaysia. As per China pharmaceutical materials association medical device branch, China’s medical devices market size is anticipated to $48Mn by 2015 and according to statistics from china chamber of commerce for export and import of medicines and health products (CCCMHPIE) the export and import value of medical equipment of China has reached $34 Bn in 2013.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Notable Market Developments

  • In 2016, Abbott Laboratories received European CE mark for the FreeStyle Libre Flash glucose monitoring system to treat diabetes in children and teens.
  • In November, Strata skin sciences (MELA Sciences), a US-based medical devices company received U.S. FDA approval to use in the USA for the treatment of melanoma.

Key

Report Outline

Medical Device Technologies Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Becton, Dickinson and Company (U.S)
  • Abbott Laboratories, Inc. (U.S)
  • bioMerieux, Inc. (France)
  • Biomerica, Inc.(USA)
  • Novartis AG(Switzerland)
  • Olympus Corporation (Japan)
  • Johnson & Johnson Diagnostics, Inc. (USA)
  • Qiagen N.V. (Geramany)
  • Siemens AG (Germany)
  • Thermo Fischer Scientific, Inc. (U.S.)

Description

The global medical device technologies market size valued USD 558.4 million 2020 and expected to reach USD 757.4 million by 2027, at a CAGR of 5.4% during the forecast period 2021-2027. An article, instrument, apparatus or machine that is used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for some health purpose is known as a medical device. Typically, the purpose of a medical device is not achieved by pharmacological, immunological or metabolic means. Medical devices require maintenance, calibration, user training, decommissioning and repair which are predominantly handled by the clinical engineers. Medical devices are used for certain purposes of treatment, rehabilitation and diagnosis of diseases or injuries may be used alone or in association with any other accessories, consumables or other medical equipment. The medical device technologies market is expected to show significant growth during the foreseen period due to huge unmet needs in the healthcare sector. Currently, many clinics and hospitals are positioning automatic processes to diminish errors and also to achieve fast and accurate data analysis. Medical device companies are spending huge amounts of investments for quality product development and to enhance product portfolio by developing respiratory products, medical imaging devices, orthopaedic implants, vascular drug-eluting stents microelectronics, bio-materials etc.

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