The Global Top 10 Medical Device Technologies Market is anticipated to extent USD 428,970.7 million by 2020, growing at a CAGR of 5.5% during the forecast period (2015 to 2020).
The market is mainly driven by the rising prevalence of chronic diseases and related increase in disability-adjusted life years (DALYs), technological advancements in medical devices, and growing aging population.
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In Top 10 Medical Device Technologies Industry report, the top 10 medical devices market is segmented by type and region.
The Top 10 Medical Device Technologies Market by type is segmented into:
- In vitro diagnostics (IVD) devices,
- Cardiology devices,
- Diagnostic imaging devices,
- Orthopedic devices,
- Ophthalmology devices,
- Endoscopy devices,
- Diabetes care devices,
- Wound management devices,
- Kidney/dialysis devices,
- Anesthesia & respiratory care devices
In 2014, the IVD devices segment accounted for the largest share of approximately 17.1% of the top 10 medical device technologies market, and is expected to grow at a CAGR of 5.8% during the forecast period. Growth in this segment is mainly attributed to the increasing prevalence of diabetes, cardiovascular diseases, and cancer.
Market Drivers of Top 10 Medical Device Technologies Industry:
- Rising prevalence of chronic diseases and related increase in disability-adjusted life years (DALYs)
- Technological advancements in medical devices
- Rapidly increasing aging population
Market Restraints of Top 10 Medical Device Technologies Industry:
- Uncertainty in reimbursement
- Excise tax on medical devices in the U.S.
Market Opportunities in Top 10 Medical Device Technologies Industry:
- Increasing investments from government bodies and private players in healthcare sectors in emerging economies
- Increasing focus of key players on the medical devices market in emerging countries
Market Challenges in Top 10 Medical Device Technologies Industry:
- High cost of medical devices and implants
- Hospital budget cuts
- Increasing adoption of refurbished medical devices
Major players in the top 10 medical device technologies market are
- Johnson & Johnson (U.S.),
- GE Healthcare (U.K.),
- Siemens Healthcare (Germany),
- Medtronic (U.S.),
- Philips Healthcare (Netherlands),
- Roche Diagnostics (Switzerland),
- Abbott Laboratories Inc. (U.S.),
- Smith & Nephew plc (U.K.),
- Stryker Corporation (U.S.),
- Boston Scientific Corporation (U.S.)
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In 2014, North America commanded the largest share of the global top 10 medical device technologies market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of 39.7% of the global top 10 medical device technologies market in 2014. The U.S. is a prime market due to the easy access to advanced medical devices through well-established distribution channels, high patient awareness on medical device technologies, and presence of advanced healthcare infrastructure.
On the other hand, Asia-Pacific is the fastest-growing region in the global top 10 medical devices market, mainly driven by the large population and rising healthcare needs, increased spending capabilities of consumers on healthcare, improving healthcare infrastructure in the region, and increasing investments by leading players and respective government agencies in the region.
Reasons to Buy the Top 10 Medical Device Technologies Market Report:
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping greater market shares.
Available Customizations for Top 10 Medical Device Technologies Market Report:
With the given market data, we offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Product matrix, which gives a detailed comparison of the product portfolios of each company
- Further breakdown of the Rest of Asia-Pacific top 10 medical device technologies market into South Korea, Australia, New Zealand, and others
- Detailed analysis and profiling of additional market players (up to 5)
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Top 10 Medical Device Technologies Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the top 10 medical device technologies market. The report analyzes the top 10 medical devices market by type across all regions.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the top 10 medical device technologies market.
- Market Development: Comprehensive information on the lucrative emerging markets by type and region.
- Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the top 10 medical device technologies market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the top 10 medical device technologies market.
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