The increasing R&D investments for the development of new generation medical devices is a key factor accelerating the growth of the medical devices market, says Fortune Business Insights in a report, titled “Medical Devices Market Size, Share and Industry Analysis By Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic Devices, Dental & Nephrology), End User (Hospitals & Ambulatory Surgical Centers and Clinics) and Regional Forecast, 2019 – 2025.” The global medical devices market size was valued at USD 425.5 Billion in 2018 and is expected to reach USD 612.7 Billion by 2025, exhibiting a CAGR of 5.4% between 2018 to 2025.
According to the report, on the basis of type, the medical devices market is segmented into orthopedic devices, cardiovascular devices, diagnostic imaging, IVD, MIS, wound management, diabetes care, ophthalmic devices, dental & nephrology. The IVD segment accounted for 12.9% of the market share in 2018 and is predicted to witness huge demand during the forecast period owing to its efficient and precise testing of diseases such as diabetes, malaria, HIV/AIDS, sexually transmitted diseases (STDs) and cancer. As per the World Health Organization (WHO), Key populations and their partners accounted for around 95% of new HIV infections in eastern Europe and central Asia and in the Middle East and North Africa in 2018. In addition, The In-vitro diagnostics devices can be used to monitor a person’s overall health to help cure, treat, or prevent diseases
The Key Companies Present In The Global Medical Devices Market Include:
- DePuy Synthes
- Fresenius Medical care
- Philips Healthcare
- GE Healthcare
- Ethicon LLC.
- Siemens Healthineers
- Cardinal Health
- Baxter International Inc.
- Other players
- Orthopedic Devices
- Cardiovascular Devices
- Diagnostic Imaging
- Wound Management
- Diabetes Care
- Ophthalmic Devices
By End User
- Hospitals & Ambulatory Surgical Centers
Increasing Adoption Of Novel Medical Technologies Will Boost Growth In North America
North America was valued at USD 169.3 Bn in 2018 and is expected to grow significantly during the forecast period owing to the well-developed healthcare infrastructure and faster adoption of new medical technologies. Asia Pacific, on the other hand, is an emerging market, exhibiting high growth potential due to increasing per capita income, growing the geriatric population, increasing disease awareness and improving health infrastructure.
However, the medical devices Industry in Europe is expected to expand at a relatively lower CAGR owing to the smaller patient pool compared to Asia Pacific. The market in Middle East & Africa and Latin America accounted for a comparatively small share of the market in 2018 and is expected to grow considerably during the forecast period.
Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4.1 Recent industry developments such as mergers & acquisitions
4.2 Overview of healthcare expenditure by key countries
4.3 Technological advancements
4.4 Key industry trends
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