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Medical Devices Market Size To Reach USD 671.49 billion by 2027

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[150+ Pages Report] global medical devices market was evaluated at USD 455.1 billion in 2021 and is speculated to accrue USD 671.49 billion by 2027, growing at 5.2% CAGR between 2021-2027.

The medical devices market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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This research report evaluates the medical devices market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global medical devices market for the period from 2017 to 2027.

Growth Factors

The increasing prevalence of chronic diseases that include cancer and diabetes expected to contribute prominently in driving the medical devices market. As per the United Nations, the ratio of total deaths because of chronic diseases expected to rise to around 70% along with the total burden of chronic diseases across the globe expected to reach around 60% by the end of 2030. Limited physical activity, extended working hours, and unhealthy food habits are the prominent cause for significant increase in the chronic diseases such as cancer and diabetes. Furthermore, unhealthy lifestyle and eating habits also attracts other types of critical diseases that further expected to flourish the demand for medical devices in the near future.

Moreover, rising trend for medical wearable devices anticipated to drive the demand for medical devices over the upcoming years. Further, integration of Artificial Intelligence (AI) in the medical devices such as remote patient monitoring devices, wearable medical equipment, Electronic Health Records (EHR), and many more such example estimated to propel the penetration of medical devices in the daily life of consumers.

However, threat for data breaches and hack of critical information through these devices expected to hinder the market growth. Recently in 2020, critical information of patients registered with Hammersmith Medicines Research for conducting clinical trial for COVID-19 vaccine was hacked. Apart from this, rising trend for in-house health monitoring such as heart beat, blood sugar level, and many other tests anticipated to boost the market growth over the forthcoming years.

Market Report Scope

Report Highlights Details
Market Size USD 671.49 Billion by 2027
Growth Rate CAGR of 5.2% From 2020 to 2027
Largest Market North America
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Type, End User
Regional Scope Asia Pacific, North America, Europe, Latin America, Middle East and Africa

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This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global medical devices market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global medical devices market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • In 2020, the North America captured the largest revenue share and anticipated to continue its dominance over the upcoming years because of developed healthcare infrastructure
  • The Asia Pacific emerged as the fastest growing region during the forecast period owing to rising ageing population, increasing per capita income, and growing health concern among the people
  • The IVD device segment accounted for a value share of nearly 15% in the year 2020 owing to increasing prevalence of chronic disease and need for precise and efficient testing kit for such diseases
  • Based on end user, hospitals & ambulatory surgical centers led the global medical devices market in 2020 due to the increasing healthcare expenditure and rising development of the healthcare infrastructure
  • North America emerged as a global leader in 2020 and expected to retain its position over the upcoming years.
  • The Asia Pacific projected to grow at a rapid rate over the analysis period owing to increasing per capita income, increased spending on healthcare infrastructure, and rapid increment in the ageing population in the region.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global medical devices market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the medical devices market include:

  • DePuy Synthes
  • Medtronics Plc
  • Fesenius Medical Care
  • GE Healthcare
  • Philips Healthcare
  • Ethicon LLC
  • Siemens Healthineers
  • Stryker
  • Cardinal Health
  • Baxter International Inc.
  • BD

Market Segmentation

By Type

  • Cardiovascular Devices
  • Orthopedic Devices
  • Diagnostic Imaging
  • MIS
  • IVD
  • Diabetes Care
  • Wound Management
  • Dental
  • Nephrology
  • Ophthalmic Devices
  • Others

By End User

  • Clinics
  • Hospitals & Ambulatory Surgical Centers
  • Others

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the medical devices in 2020?

What is the expected market size by 2027?

What is the medical devices market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the medical devices market?

Why Buy this Report?

The purpose of Precedence Research’s medical devices market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Medical Devices Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Medical Devices Market

5.1. Covid-19: Medical Devices Industry Impact
5.2. Medical Devices Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Medical Devices Opportunities in the COVID-19 Landscape
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Medical Devices Manufacturers to deal with Covid-19 Pandemic Scenario

Chapter 6. Medical Devices Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition

Chapter 7. Global Medical Devices Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Medical Devices Market Revenue by Manufacturer (2015-2020)
7.1.1.2. Medical Devices Market Revenue Market Share by Manufacturer (2015-2020)
7.1.1.3. Medical Devices Market Production by Manufacturer (2015-2020)
7.1.1.4. Medical Devices Market Production Share by Manufacturer (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers

Chapter 8. Global Medical Devices Market, By Product Type

8.1. Medical Devices Market, by Product Type, 2016-2027
8.1.1. Cardiovascular Devices
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.1.2. Market Production and Forecast (2016-2027)
8.1.2. Orthopedic Devices
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.2.2. Market Production and Forecast (2016-2027)
8.1.3. Diagnostic Imaging
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.3.2. Market Production and Forecast (2016-2027)
8.1.4. MIS
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.4.2. Market Production and Forecast (2016-2027)
8.1.5. IVD
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.5.2. Market Production and Forecast (2016-2027)
8.1.6. Diabetes Care
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.6.2. Market Production and Forecast (2016-2027)
8.1.7. Wound Management
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.7.2. Market Production and Forecast (2016-2027)
8.1.8. Dental
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.8.2. Market Production and Forecast (2016-2027)
8.1.9. Nephrology
8.1.9.1. Market Revenue and Forecast (2016-2027)
8.1.9.2. Market Production and Forecast (2016-2027)
8.1.10. Ophthalmic Devices
8.1.10.1. Market Revenue and Forecast (2016-2027)
8.1.10.2. Market Production and Forecast (2016-2027)
8.1.11. Others
8.1.11.1. Market Revenue and Forecast (2016-2027)
8.1.11.2. Market Production and Forecast (2016-2027)

Chapter 9. Global Medical Devices Market, By End-User

9.1. Medical Devices Market, By End-User, 2016-2027
9.1.1. Clinics
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.1.2. Market Consumption and Forecast (2016-2027)
9.1.2. Hospitals & Ambulatory Surgical Centers
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.2.2. Market Consumption and Forecast (2016-2027)

Chapter 10. Global Medical Devices Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Production Forecast by Product (2016-2027)
10.1.2. Market Revenue and Consumption Forecast By End-User (2016-2027)
10.1.3. U.S
10.1.3.1. Market Revenue and Production Forecast (2016-2027)
10.1.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.1.4. Canada
10.1.4.1. Market Revenue and Production Forecast (2016-2027)
10.1.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Production Forecast by Product (2016-2027)
10.2.2. Market Revenue and Consumption Forecast By End-User (2016-2027)
10.2.3. UK
10.2.3.1. Market Revenue and Production Forecast (2016-2027)
10.2.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.4. Germany
10.2.4.1. Market Revenue and Production Forecast (2016-2027)
10.2.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.5. France
10.2.5.1. Market Revenue and Production Forecast (2016-2027)
10.2.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.6. Rest of EU
10.2.6.1. Market Revenue and Production Forecast (2016-2027)
10.2.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue and Production Forecast by Product (2016-2027)
10.3.2. Market Revenue and Consumption Forecast By End-User (2016-2027)
10.3.3. China
10.3.3.1. Market Revenue and Production Forecast (2016-2027)
10.3.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Production Forecast (2016-2027)
10.3.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.5. Japan
10.3.5.1. Market Revenue and Production Forecast (2016-2027)
10.3.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Production Forecast (2016-2027)
10.3.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.4. LATAM
10.4.1. Market Revenue and Production Forecast by Product (2016-2027)
10.4.2. Market Revenue and Consumption Forecast By End-User (2016-2027)
10.4.3. Brazil
10.4.3.1. Market Revenue and Production Forecast (2016-2027)
10.4.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue and Production Forecast (2016-2027)
10.4.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue and Production Forecast by Product (2016-2027)
10.5.2. Market Revenue and Consumption Forecast By End-User (2016-2027)
10.5.3. GCC
10.5.3.1. Market Revenue and Production Forecast (2016-2027)
10.5.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.4. North Africa
10.5.4.1. Market Revenue and Production Forecast (2016-2027)
10.5.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.5. South Africa
10.5.5.1. Market Revenue and Production Forecast (2016-2027)
10.5.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue and Production Forecast (2016-2027)
10.5.6.2. Market Revenue and Consumption Forecast (2016-2027)

Chapter 11. Company Profiles

11.1. DePuy Synthes
11.1.1. Company Overview, Business Information, Manufacturing Area
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.1.4. Recent Developments and Strategies
11.2. Medtronics Plc
11.2.1. Company Overview, Business Information, Manufacturing Area
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.2.4. Recent Developments and Strategies
11.3. Fesenius Medical Care
11.3.1. Company Overview, Business Information, Manufacturing Area
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.3.4. Recent Developments and Strategies
11.4. GE Healthcare
11.4.1. Company Overview, Business Information, Manufacturing Area
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.4.4. Recent Developments and Strategies
11.5. Philips Healthcare
11.5.1. Company Overview, Business Information, Manufacturing Area
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.5.4. Recent Developments and Strategies
11.6. Ethicon LLC
11.6.1. Company Overview, Business Information, Manufacturing Area
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.6.4. Recent Developments and Strategies
11.7. Siemens Healthineers
11.7.1. Company Overview, Business Information, Manufacturing Area
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.7.4. Recent Developments and Strategies
11.8. Stryker
11.8.1. Company Overview, Business Information, Manufacturing Area
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Application
11.8.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.8.4. Recent Developments and Strategies
11.9. Cardinal Health
11.9.1. Company Overview, Business Information, Manufacturing Area
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Application
11.9.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.9.4. Recent Developments and Strategies
11.10. Company 10
11.10.1. Company Overview, Business Information, Manufacturing Area
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Application
11.10.3. Revenue, Production Capacity, Price and Gross Margin (2015-2020)
11.10.4. Recent Developments and Strategies

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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