United States, Rockville MD, April 25, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Medical Device Technologies market is projected to grow at a compound annual rate (CAGR) of 3% between 2022 and 2032. The market is expected to reach US$ 663 Bn by the end of 2032. The demand for Medical Device Technologies is expected to rise over the forecast period and the market was valued at US$ 470.32 Bn in 2021.
Browse in-depth TOC on "Demand of Medical Device Technologies Market"
30 Tables and
62 Figures
170 Pages
From 2015 to 2021, medical device technologies industry growth documented a value CAGR worth 4.3%, closing in at a valuation of US$ 470.32 Billion. Various imaging modalities, including projection radiography, MRI, CAD/CAM technologies, and CT scanning procedures, give useful patient information. Furthermore, platforms such as implanted micro telescopes, smart adapters, and premium intraocular lenses (IOLs) have transformed fields such as ophthalmology.
For Critical Insights on Medical Device Technologies Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=4828
In terms of end user, hospitals and ambulatory surgery centers will lead the worldwide medical devices market in 2020. The segment's rapid expansion may be ascribed mostly to rising healthcare expenditures, increased construction of healthcare infrastructure, a strong emphasis on improving patient outcomes, and appealing reimbursement systems.
Which Device Type will Leverage Medical Device Technologies the Most?
Deployment to be Maximum across Diabetes Care Devices
Diabetes care device sales are expected to grow the quickest, with a positive CAGR of 4% over the projected period. Demand for diagnostic imaging devices, on the other hand, is expected to catch up, with a CAGR of 5.9% through 2032. Diabetes care equipment sales are increasing due to the increased prevalence of lifestyle disorders such as diabetes among a diverse population globally.
According to the World Health Organization and the International Diabetes Federation (IDF), more than 400 million individuals have diabetes in 2014. The use of diagnostic imaging techniques such as MRI, X-ray, and CT scan allows for the non-invasive diagnosis of chronic illnesses. This aspect is a major driver of the increase in diagnostic imaging device sales.
To learn more about Medical Device Technologies Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=4828
Key Segments Covered in the Medical Device Technologies Industry Survey
Medical Device Technologies by Device Type
- In-Vitro Medical Diagnostic (IVD) Devices
- Cardiology Devices
- Diagnostic Imaging Devices
- Orthopedic Devices
- Ophthalmology Devices
- Endoscopy Devices
- Diabetes Care Devices
- Wound Management Devices
- Kidney/Dialysis Devices
- Anesthesia and Respiratory Care Devices
- Others
Medical Device Technologies by End User
- Academics & Research
- Hospitals
- Clinics
- Diagnostic Centers
- Ambulatory Surgery Centers
- Others
Competitive Landscape
The medical device technologies industry is highly fragmented, with an increasing number of market participants fighting for collaboration with hospitals, clinics, and research organizations. Due to low switching costs for hospitals and the availability of identical products from other vendors, the level of competition is considerable.
- Medtronic plc, Johnson & Johnson, Siemens Healthineers, GE Healthcare, F. Hoffmann La Roche Ltd., Phillips Healthcare, Baxter International, Boston Scientific Corporation, Abbott Laboratories, and Cardinal Health are some of the major competitors in the medical device technology industry.
- Market participants are emphasizing on product differentiation and reducing product time-to-market. For example, Boston Scientific Corporation's structural heart treatment is one of the fastest expanding areas of the medical device technologies industry. The segment has a high level of synergy with the rhythm management and interventional cardiology businesses. Similarly, Baxter International is planning to launch around 50 items over the next five years, including acute and renal care solutions with increased technology enhancements.
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4828
Key players in the Medical Device Technologies Market
- Medtronic Plc.
- Johnson & Johnson
- Siemens Healthineers
- GE Healthcare
- F. Hoffmann La Roche Ltd.
- Phillips Healthcare
- Baxter International
- Boston Scientific Corporation
- Abbott Laboratories, and Cardinal Health
To understand how our report can bring difference to your business strategy, Purchase a copy of this report at https://www.factmr.com/checkout/4828
Key Takeaways from the Market Study
- Diabetes care device sales are increasing at a healthy rate, with a CAGR of 4% expected for the projection period. This is due to the increased proportion of the diabetes population worldwide.
- Medical device technology adoption in hospitals continues to drive growth strategies, accounting for more than 30% of total market revenue.
- Rising healthcare infrastructure investment has resulted in a rise in the number of hospitals built to provide modern medical treatment. This is expected to be a significant growth determinant.
- North America will continue its dominance in the medical device technologies industry, accounting for over two-fifths of the worldwide market value.
- The Asia-Pacific region is predicted to provide significant potential prospects for leading players, with the market developing at a CAGR of 5.6% through 2032.
- The rising frequency of chronic illnesses, as well as the growing elderly population, is driving market development in both areas.
Explore Fact.MR’s Coverage on the Healthcare Domain –
Syringes Market Insights - Medical device manufacturers are focusing on delivering important surgical equipment such as syringes. Asia has enormous development potential for syringes, with the highest expected growth rate, particularly in light of the COVID-19 pandemic.
Chromatography Syringes Market Analysis - Over the next ten years, increased demand for gas chromatography syringes, rising sales of manual chromatography syringes, and the existence of top suppliers of high pressure liquid chromatography syringes are expected to drive market expansion.
Prefilled Syringes Market Forecast - Pre-filled syringes have emerged as one of the fastest-growing options for unit dosage medicine as the pharmaceutical industry investigates innovative and more convenient drug delivery technologies.
Cancer Therapeutics Market Forecast - Discoveries of revolutionary peptide-based medications are projected to influence developing trends in the cancer therapeutics market, with the cancer therapeutics sector is steady in its R&D operations. In the future years, peptide-based drugs are projected to become more widely used in cancer therapeutics.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
Japan Sales Office
4-1-1 Nakano,
9F Nakano Sunplaza
Tokyo, 164-8512
Japan
E: sales@factmr.com
