Global Medical Devices Market Size, Insights, Drivers, Opportunities, By Application (General Medical, Orthopedic, Surgical And Infection Control, Cardiovascular, Home Healthcare, Others), By Region, Growth, Trends and Forecast from 2019 to 2027
Global Medical Devices Market Size, Insights, Drivers, Opportunities, By Application (General Medical, Orthopedic, Surgical And Infection Control, Cardiovascular, Home Healthcare, Others), By Region, Growth, Trends and Forecast from 2019 to 2027
Historic years: 2015 to 2017 Base Year: 2018 Forecast Years: 2019 to 2027
Number of pages: 100 Category: Healthcare Report Id: MISHC5002
Market Insights
The global medical devices market was valued at USD 390.60 billion in 2018 and is estimated to reach a value of USD 614.13 billion in 2027. The market is analyzed to rise at a CAGR of 5.16% over the forecast period of 2019 to 2027. Increasing healthcare expenditure and technology advancement are boosting the market growth. In developing countries operational margin is high which is driving manufacturers to enter into this market.Global medical devices market size by region, 2018 (USD billion)
Primary and secondary market researchers have identified Medtronic, DePuy Synthes, Thermo Fisher Scientific as the key players in the global medical devices market. However, considering the analysis of this segment, factors like company revenue, industry trends in selecting particular group and penetration of the medical devices companies for different product types are being considered. The medical devices market is going through several technological advancement in recent years. For instance, ECG stress devices have is updated in waveform analysis algorithms, wireless lead systems and connectivity with EMRs. Pacemakers have seen upgraded in implantation techniques, miniaturization and battery longevity. Another advancement has been observed in this market was in advanced brain monitoring devices.Application Insights
General medical is estimated to be the largest segment accounting for 36.44% share in the market. Some of the most popular and generic medical devices includes baby care equipment, medical waste management product, surgical instruments, syringe needle destroyer, autoclave & sterilizer, and operation table. Orthopedic device is expected to be the fastest growing category over the forecast period of 2019 to 2027.Global medical devices market value share by application, 2027 (%)