Medical Devices: Technologies and Global Markets

Medical Devices: Technologies and Global Markets

  • January 2021 •
  • 279 pages •
  • Report ID: 2374321 •
  • Format: PDF
Report Scope:
This report incorporates an in-depth analysis of the medical device technology market, including market estimations and trends through 2018.Major players, competitive intelligence, innovative technologies, market dynamics and regional opportunities are discussed in detail.

The report examines recent developments and product portfolios of major players. The patent analysis focuses on technological trends in recent years in regions such as the U.S., Europe and Japan. The report presents a market analysis and estimates the compound annual growth rate (CAGR) for medical device technologies.

The scope of the report extends to only those medical device technologies that generate the most global revenue. Dental device technologies and some imaging devices used in dentistry overlap with other devices that are already covered under the imaging device technologies segments, so these have been excluded.

This report segments the global market by these geographic regions: North America, Europe, Asia Pacific and the Rest of the World region. For market estimates, data is provided for 2018 as the base year, 2019 and forecast through year-end 2025.

Report Includes:
- 55 data tables and 76 additional tables
- An overview of the global markets and technologies for medical devices
- Analysis of global market trends, with data from 2019, 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Discussion on definitions, evolution and types of devices, regulations and legislations, as well as key industry aspects such as market drivers and industry strategies
- An in-depth breakdown of devices by technology type including: imaging devices, in-vitro diagnostic devices, cardiovascular devices, orthopedic and spine, urology and renal devices, endoscopic devices, and drug delivery systems
- Detailed description about COVID-19, including disease progression, symptoms and treatment options and impact analysis of COVID-19 on entire life science industry as well as on medical devices industry
- Evaluation of current market trends, market size, market forecast, and technological advancements within the industry
- Company profiles of major key players in the market, including Boston Scientific Corp., Koninklijke Philips N.V., General Electric Company, Medtronic plc, Siemens Healthcare, and Thermo Fisher Scientific

The global market for medical device technologies was valued at $REDACTED billion in 2019.The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to reach approximately $REDACTED billion by 2025.

The global market’s growth is attributed to the growing prevalence of chronic diseases, arise in the world’s geriatric population, growing demand for minimally-invasive procedures, rising COVID-19 cases and an increasing number of product launches.

Various governments are looking at medical device technology companies in efforts to make healthcare more affordable.Some governments in Western Europe encourage older adults to stay in their homes for longer periods in order to trim budgets.

There is considerable pressure on medical device technology firms to ensure compliance with different varying regulatory standards. Governments of various regions have framed rules and regulations in order to ensure that these companies meet safety and efficacy criteria for their devices.

Regionally, growth is expected in the developing countries of the Asia-Pacific region for various reasons, including the growing number of medical procedures being covered by insurance companies, increased government spending on healthcare, growing geriatric populations, rising awareness among people concerning healthcare and a rise in disposable income.India and China are lucrative markets, with populations of over one billion each and favorable economic growth rates despite the recent global downturn.

Companies have not completely exploited these markets, facing problems with distribution, competition from low-cost products manufactured locally and an inability to introduce products that meet patient needs in these countries.

The rapid spread of COVID-19 has thrown countless businesses into a frenzy. The medical device industry, in particular, is facing growing pressure to rapidly-produce tests and ventilators needed in nearly every region of the world.

The virus created unprecedented challenges for the medical device industry.COVID-19 put the medical device industry at center stage with the phenomenal demand for personal protective equipment (PPE), diagnostic tests, ventilators and other critical medical supplies.

In addition to the unusual measures underway to rapidly ramp up manufacturing capacity and capabilities, medical device leaders are looking outside the normal sector boundaries in order to explore creative solutions to further supplement capacity, such as partnerships with companies outside the sector, open-source equipment design and deployment of medically trained employees to support public-health needs.