The medical devices market is anticipated to grow significantly owing to the rise in geriatric population. Fortune Business Insights in a new study, titled “Global Market Size, Share and Global Trend 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 Geography Forecast till 2025” finds that in-vitro diagnostics is likely to dominate the market. According to the study, the IVD segment covered a share of 12.9% in the global market in the year 2018. The medical device market is projected to expand at a CAGR of 5.4% between 2019 and 2025. In 2018, the market accounted for a value of US$ 425.5 Bn and is likely to reach US$ 612.7 Bn by 2025.
- Detailed Historical Overview
- Consumer and Pricing Analysis
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in Terms of Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage
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Key Companies and Manufacturers Covered:
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight.
- DePuy Synthes
- Fresenius Medical care
- Philips Healthcare
- GE Healthcare
- Ethicon LLC.
- Siemens Healthineers
- Cardinal Health
- Baxter International Inc.
- Other players
Stringent FDA Regulations on the Approval of Medical Devices May Hamper the Growth
The global medical devices market is expected to grow, but there are certain factors restricting the market. Time taken to attain regulatory approvals may limit the growth of the market to an extent.
Companies are Adopting Innovative Strategies to Stay Ahead of Competition
In December 2017, Siemens Healthineers acquired Fast Track Diagnostics with an aim to ensure improved patient care and safety. Such growth strategies adopted by leading companies will enable growth in the market. Some of the other players present in the global medical devices market include GE Healthcare, DePuy Synthes, Ethicon LLC., Baxter International Inc., Medtronic, and Philips Healthcare. Companies are adopting strategies to improve their revenue shares in the medical devices market.
In-vitro diagnostics help in the testing of diseases such as malaria, diabetes, cancer, STDs, and AIDS/HIV. These devices provide accurate information, which is a key factor fueling their demand worldwide. Fortune Business Insights predicts this to be a key factor creating growth opportunities in the segment during the forecast period. However, growth of this segment may get hampered by delayed approvals by regulatory authorities. The medical device industry is currently witnessing high growth due to increasing demand in hospitals and surgical centers. The rapid adoption of medical devices across hospitals is driving the global medical device market. Fortune Business Insights predicts hospitals and surgical centers to remain dominant in the coming years. Increasing expenditure on healthcare and expansion of healthcare infrastructure, especially in emerging nations sare anticipated to drive this segment between 2019 and 2025.
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Medical Devices Market Regional Analysis:
- U.S.- (District of Columbia, Massachusetts, Minnesota, New Hampshire, New York & more)
- Canada- (Ontario, British Columbia, Nova Scotia, Manitoba, Québec & more)
- Australia- (Australian Capital Territory, New South Wales, South Australia, Victoria3, Queensland & more)
- Ireland- (Dublin & more)
- New Zealand
- And more
Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Reasons to Purchase this Report:
- Estimates medical devices market trends with SWOT analysis.
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players.
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion.
- Market dynamics and opportunities for growth for players in the near future.
- Competitive landscape describing the market revenue shares of key players.
- Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
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KEY QUESTIONS ANSWERED:
- What are the key technological and medical devices market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
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