Medical Devices Market by Product (Diagnostic Device, Home Healthcare Device, Imaging Device), Type (Disposable Hospital Supplies, Mobility Aids & Transportation Equipment, Operating Room Equipment), Class of Device, End-User - Global Forecast 2024-2030

Medical Devices Market by Product (Diagnostic Device, Home Healthcare Device, Imaging Device), Type (Disposable Hospital Supplies, Mobility Aids & Transportation Equipment, Operating Room Equipment), Class of Device, End-User - Global Forecast 2024-2030


The Medical Devices Market size was estimated at USD 299.80 billion in 2023 and expected to reach USD 315.93 billion in 2024, at a CAGR 5.41% to reach USD 433.74 billion by 2030.Medical devices are crucial in the healthcare sector for preventing, diagnosing, treating, monitoring, and managing various health conditions. These devices include surgical instruments, diagnostic equipment such as X-ray machines and MRI scanners, therapeutic devices, including pacemakers and insulin pumps, assistive technologies for mobility or hearing aids, and consumables such as syringes or blood glucose test strips. The medical devices market is experiencing significant growth opportunities due to the rising demand for healthcare services owing to the increased geriatric population, increasing prevalence of chronic diseases, and surging technological advances for new treatment options. Some key factors driving this market growth include technological advancements, which result in improved device functionality and efficiency, a greater focus on patient-centric care, growing investments by both public and private sectors in research and development (R&D), medical tourism, favorable reimbursement policies, and expanded access to healthcare facilities worldwide. However, regulatory hurdles remain a major concern for manufacturers seeking approval for new products or modifications to existing ones, causing delays in product launches or increased costs. Additionally, medical device quality issues, counterfeit product availability, and recall issues may hinder the development of the medical devices market. However, telehealth technologies, AI applications in personalized medicine, materials science advancements for implantable and wearable devices, home healthcare solutions, and support for novel surgical techniques foster the medical devices market's growth and enhance patient outcomes and quality of life.

Regional Insights

In the Americas, the United States leads the medical devices market due to its strong healthcare infrastructure, stringent regulatory environment, and significant investments in research & development. Latin American countries offer vast opportunities for market growth as they focus on improving healthcare access with increasing government support. APAC has emerged as a significant region in the medical devices market due to rapid economic growth and an expanding middle class demanding better healthcare options. China is at the forefront of this expansion, with its National Medical Products Administration (NMPA) regulating device approvals and distribution. In EMEA, Europe accounts for most of the medical devices market share due to its advanced healthcare infrastructure and relatively higher spending on healthcare. The European Union's Medical Device Regulation (MDR) governs the sector, ensuring a harmonized approach to product development, clinical trials, and marketing across member states. The Middle East & Africa region offers better growth opportunities for the market due to increasing government investments in healthcare and rising demand for quality care. Medical device manufacturers must adapt innovative strategies based on regional variations in regulations, market dynamics, and consumer preferences to capitalize on global opportunities.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Medical Devices Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Medical Devices Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Medical Devices Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Abbott Laboratories, Agappe Diagnostics Ltd., AptarGroup, Inc., ARKRAY, Inc., Baxter International Inc., Becton, Dickinson, and Company, Boston Scientific Corporation, Canon Medical Systems Corporation by Cannon, Inc., Cardinal Health, Inc., Carl Zeiss AG, Coloplast Corp., Danaher Corporation, DuPont de Nemours, Inc., Edwards Lifesciences Corporation, Fisher & Paykel Healthcare Limited, Fujifilm Holdings, General Electric Company, Getinge AB, Hologic, Inc., Intuitive Surgical, Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Masimo Corporation, Medtronic PLC, Olympus Corporation, Panasonic Corporation, Samsung Electronics and Samsung Medison, Schiller AG, Siemens Healthineers AG, Smith & Nephew PLC, Sony Group Corporation, Stryker Corporation, Terumo Corporation, Thermo Fisher Scientific Inc., and Zimmer Biomet.

Market Segmentation & Coverage

This research report categorizes the Medical Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product

Diagnostic Device

Home Healthcare Device

Imaging Device

Implantable Device

Monitoring Device

Surgical Device

Therapeutic Device
Type

Disposable Hospital Supplies

Mobility Aids & Transportation Equipment

Operating Room Equipment

Sterilization Equipment & Disinfectants
Class of Device

Class I Medical Devices

Class II Medical Devices

Class III Medical Devices
End-User

Diagnostic Centers

Home Healthcare

Hospital & Clinics
Region

Americas
Argentina
Brazil
Canada
Mexico
United States

California

Florida

Illinois

New York

Ohio

Pennsylvania

Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Medical Devices Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Medical Devices Market?
3. What are the technology trends and regulatory frameworks in the Medical Devices Market?
4. What is the market share of the leading vendors in the Medical Devices Market?
5. Which modes and strategic moves are suitable for entering the Medical Devices Market?

Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Medical Devices Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Increasing need for medical devices to treat chronic and infectious diseases globally
5.1.1.2. Favorable government funding for healthcare infrastructure development
5.1.1.3. Rising demand for self-diagnosis and treatment among patients
5.1.2. Restraints
5.1.2.1. Quality concerns and associated high costs with the production of medical devices
5.1.3. Opportunities
5.1.3.1. Integration of advanced technologies such as artificial intelligence and immersive technologies
5.1.3.2. Use of 3D printing technology for manufacturing of robust medical devices
5.1.4. Challenges
5.1.4.1. Strict government regulatory approval, counterfeit products, and recall issues
5.2. Market Segmentation Analysis
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Medical Devices Market, by Product
6.1. Introduction
6.2. Diagnostic Device
6.3. Home Healthcare Device
6.4. Imaging Device
6.5. Implantable Device
6.6. Monitoring Device
6.7. Surgical Device
6.8. Therapeutic Device
7. Medical Devices Market, by Type
7.1. Introduction
7.2. Disposable Hospital Supplies
7.3. Mobility Aids & Transportation Equipment
7.4. Operating Room Equipment
7.5. Sterilization Equipment & Disinfectants
8. Medical Devices Market, by Class of Device
8.1. Introduction
8.2. Class I Medical Devices
8.3. Class II Medical Devices
8.4. Class III Medical Devices
9. Medical Devices Market, by End-User
9.1. Introduction
9.2. Diagnostic Centers
9.3. Home Healthcare
9.4. Hospital & Clinics
10. Americas Medical Devices Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Medical Devices Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam
12. Europe, Middle East & Africa Medical Devices Market
12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom
13. Competitive Landscape
13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
13.3.1. Merger & Acquisition
13.3.1.1. Abbott Completes Acquisition of Cardiovascular Systems, Inc.
13.3.2. Agreement, Collaboration, & Partnership
13.3.2.1. Medtronic and NVIDIA Collaborate to Build AI Platform for Medical Devices
13.3.3. New Product Launch & Enhancement
13.3.3.1. GE HealthCare launches bkActiv system for new surgical procedures
14. Competitive Portfolio
14.1. Key Company Profiles
14.1.1. 3M Company
14.1.2. Abbott Laboratories
14.1.3. Agappe Diagnostics Ltd.
14.1.4. AptarGroup, Inc.
14.1.5. ARKRAY, Inc.
14.1.6. Baxter International Inc.
14.1.7. Becton, Dickinson, and Company
14.1.8. Boston Scientific Corporation
14.1.9. Canon Medical Systems Corporation by Cannon, Inc.
14.1.10. Cardinal Health, Inc.
14.1.11. Carl Zeiss AG
14.1.12. Coloplast Corp.
14.1.13. Danaher Corporation
14.1.14. DuPont de Nemours, Inc.
14.1.15. Edwards Lifesciences Corporation
14.1.16. Fisher & Paykel Healthcare Limited
14.1.17. Fujifilm Holdings
14.1.18. General Electric Company
14.1.19. Getinge AB
14.1.20. Hologic, Inc.
14.1.21. Intuitive Surgical, Inc.
14.1.22. Johnson & Johnson Services, Inc.
14.1.23. Koninklijke Philips N.V.
14.1.24. Masimo Corporation
14.1.25. Medtronic PLC
14.1.26. Olympus Corporation
14.1.27. Panasonic Corporation
14.1.28. Samsung Electronics and Samsung Medison
14.1.29. Schiller AG
14.1.30. Siemens Healthineers AG
14.1.31. Smith & Nephew PLC
14.1.32. Sony Group Corporation
14.1.33. Stryker Corporation
14.1.34. Terumo Corporation
14.1.35. Thermo Fisher Scientific Inc.
14.1.36. Zimmer Biomet
14.2. Key Product Portfolio
15. Appendix
15.1. Discussion Guide
15.2. License & Pricing
FIGURE 1. MEDICAL DEVICES MARKET RESEARCH PROCESS
FIGURE 2. MEDICAL DEVICES MARKET SIZE, 2023 VS 2030
FIGURE 3. MEDICAL DEVICES MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. MEDICAL DEVICES MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. MEDICAL DEVICES MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. MEDICAL DEVICES MARKET DYNAMICS
FIGURE 7. MEDICAL DEVICES MARKET SIZE, BY PRODUCT, 2023 VS 2030 (%)
FIGURE 8. MEDICAL DEVICES MARKET SIZE, BY PRODUCT, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. MEDICAL DEVICES MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
FIGURE 10. MEDICAL DEVICES MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. MEDICAL DEVICES MARKET SIZE, BY CLASS OF DEVICE, 2023 VS 2030 (%)
FIGURE 12. MEDICAL DEVICES MARKET SIZE, BY CLASS OF DEVICE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. MEDICAL DEVICES MARKET SIZE, BY END-USER, 2023 VS 2030 (%)
FIGURE 14. MEDICAL DEVICES MARKET SIZE, BY END-USER, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. AMERICAS MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 16. AMERICAS MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. UNITED STATES MEDICAL DEVICES MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 18. UNITED STATES MEDICAL DEVICES MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. ASIA-PACIFIC MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. ASIA-PACIFIC MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. EUROPE, MIDDLE EAST & AFRICA MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 22. EUROPE, MIDDLE EAST & AFRICA MEDICAL DEVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. MEDICAL DEVICES MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 24. MEDICAL DEVICES MARKET SHARE, BY KEY PLAYER, 2023

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings