Lucintel’s latest market report analyzed that medical device provides attractive opportunities in hospital and homecare sector. The medical device market is expected to reach $426.2 billion by 2025 with a CAGR of 3.6%. In this market, cardiovascular device is the largest segment by application, whereas surgical device is largest by function. The increasing use of AI-Optimized medical device, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-Printing in medical devices provides strategic growth path in this market.
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Based on application, the medical device market is segmented into surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices. The cardiovascular devices segment accounted for the largest share of the market in 2020 due to increasing geriatric population, inactive lifestyle, and poor eating habits.
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53 – Tables
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177 – Pages
The medical device market is marked by the presence of several big and small players. Some of the prominent players offering Medical device include Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health and others.
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