{"id":573651,"date":"2021-11-09T12:42:01","date_gmt":"2021-11-09T12:42:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=573651"},"modified":"2021-11-09T12:42:01","modified_gmt":"2021-11-09T12:42:01","slug":"medical-devices-market-growth-to-reach-usd-6294-billion-by-2026-exclusive-report-by-mordor-intelligence","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/medical-devices-market-growth-to-reach-usd-6294-billion-by-2026-exclusive-report-by-mordor-intelligence_573651.html","title":{"rendered":"Medical Devices Market Growth to Reach USD 629.4 Billion by 2026 – Exclusive Report by Mordor Intelligence"},"content":{"rendered":"
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Mordor Intelligence<\/div>\n<\/div>\n<\/div>\n
According to the World Ageing Population report, in 2019, around 703 million people aged 65 years and above were living all across the world. Over the next three decades, this number of the older population is expected to increase more than double, over 1.5 billion by the year 2050. This is expected to have a significant impact on the healthcare system and thereby positively impact the global medical de<\/div>\n

Medical Devices Market Overview<\/strong><\/p>\n

The medical devices market is expected to reach revenues of reach USD 629.4 billion by the year 2026 and is likely to witness a CAGR of around 5.71% during the forecast period (2021-2026). The factors that are driving the market growth include the rising prevalence of chronic diseases and related increases in disability-adjusted life years, technological advancements in medical devices, and a consistent increase in the aging population. Ventilators were in high demand for COVID – 19 patients as they are an important tool in hospitals that can keep the patients in critical conditions alive. In March 2020, Medtronic announced that it had increased production of ventilators by more than 40% to date and is on track to more than double its capacity to manufacture and supply ventilators in response to the urgent needs of patients and healthcare systems across the world confronting COVID-19.<\/p>\n

Download free sample here – <\/strong>Medical Devices Market<\/a><\/p>\n

Medical Devices Market – Geographical Overview<\/strong> <\/p>\n

North America dominates the medical devices market and is expected to continue the same during the forecast period<\/strong><\/p>\n

The United States is the largest market in the North American region. Mobile health and telemedicine have been growing in the United States, with an increasing rate of adoption. The medical devices sector in the United States is an important part of the healthcare industry. Moreover, the market has a very competitive landscape, with the presence of leading medical device market players, such as Johnson and Johnson, Abbott, and Baxter International. The advent of technological advancements, such as 3D printing, artificial intelligence, and robotic surgery devices and their adoption is likely to further boost the market growth. In August 2020, Utah-based Innovasis Inc. announced that the US Food and Drug Administration (FDA) gave 510(k) clearance for use of its bio-enhanced 3D printed AxTiHA and TxTiHA Interbody Fusion Devices that have been modified with Promimic Hanano Surface technology.<\/p>\n

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