(Companies Covered: Medtronic Plc, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company, Siemens Healthineers AG, Koninklijke Philips N.V. General Electric Company, Baxter International Inc., Danaher Corporation, 3M Company, SCHILLER Healthcare India Pvt. Ltd.)
The global medical devices market reached a value of nearly $456.9 billion in 2019, having increased at a compound annual growth rate of 4.4% since 2015. The market is expected to decline from $456.9 billion in 2019 to $442.5 billion in 2020 at a rate of -3.2%. The decline is mainly due to lockdowns imposed by the governments across the world that hindered the supply chain in the medical devices manufacturing industry. However, there is an unprecedented increase in the manufacturing of the ventilators that are used to treat COVID-19 patients. The market is then expected to recover and grow at a compound annual growth rate of 6.1% from 2021 and reach $603.5 billion in 2023.
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The medical devices market consists of sales of medical equipment or devices and related services by entities (organizations, sole traders and partnerships) that manufacture medical equipment or devices which are used in the diagnosis, treatment and monitoring of medical conditions. The medical device industry includes establishments that manufacture medical equipment or devices such as in-vitro diagnostic devices, diagnostic imaging equipment, dental equipment and supplies, ophthalmic devices, cardiovascular devices, hospital supplies and other medical devices.
Global Medical Devices Market Segmentation –
1) By Type Of Device- In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment
Global Medical Devices Market Driver –
The rising prevalence of chronic diseases such as diabetes and cancer is expected to be a major driver of the medical devices market. According to the United Nations, the proportion of total global deaths due to chronic diseases is expected to increase to 70% and the global burden of chronic diseases is expected to reach about 60% by 2030.
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Few Points From The Global Medical Devices Market TOC
1. Medical Devices Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type Of Device
6.1.3. Segmentation By Type Of Expenditure
6.1.4. Segmentation By End-User
7. Medical Devices Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Type Of Device
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