Top 10 Medical Device Technologies Market by Type (In Vitro Diagnostics, Diagnostics Imaging, Orthopedic, Ophthalmology, Cardiology, Endoscopy, Diabetes Care, Respiratory Care & Anesthesia, Kidney/Dialysis Devices) and Region - Global Forecast to 2027

Top 10 Medical Device Technologies Market by Type (In Vitro Diagnostics, Diagnostics Imaging, Orthopedic, Ophthalmology, Cardiology, Endoscopy, Diabetes Care, Respiratory Care & Anesthesia, Kidney/Dialysis Devices) and Region - Global Forecast to 2027

The global top 10 Medical Device Technologies market is projected to reach USD 577.5 billion by 2027

from USD 437.4 billion in 2022, at a CAGR of 5.7% during the forecast period. Globally, with the rapid growth in aging population, the incidence of a number of chronic diseases is on the rise. Moreover, the elderly is more susceptible to traumas and injuries. Due to these factors, the demand for advanced medical equipment is increasing across the globe.

The emerging markets in Asia-Pacific (India and China) and Latin America (Brazil and Mexico) are expected to offer significant growth opportunities in the coming years. The high growth in these markets can majorly be attributed to the rising geriatric population; growing prevalence of chronic diseases; improving healthcare infrastructure due to increasing investments by respective government bodies; and rising investments by leading players in these countries.

“The Cardiology Devices Market segment holds the second largest share in top 10 Medical Device Technologies market.”

The growth in the Cardiology Devices Market is mainly driven by the increasing incidences of cardiovascular diseases and launch of innovative products by market players. However, low affordability and inaccessibility of cardiac surgeries in developing countries is expected to restrain the growth of cardiology devices market during the forecast period.

“In the forecast period, global respiratory care & anesthesia devices market segment is expected to grow at the highest CAGR in the top 10 medical devices market”

During the forecast period, the global respiratory care & anesthesia devices segment is expected to grow at the highest CAGR. The increasing need for advanced and innovative machines and equipment and high incidence of chronic obstructive pulmonary diseases (COPD) and obtrusive sleep apnea (OSA) are key factors driving the growth of this market. The changing preference of patients towards home care devices is expected to propel the growth of anesthesia and respiratory care devices market.

“By Region, Europe holds the second largest share in the top 10 Medical Device Technologies market, in the forecast period”

By Region, In 2021, Europe accounted for the second largest share of the top 10 Medical Device Technologies market in the forecast period, followed by the Asia Pacific, Latin America, and the Middle East & Africa. This is mainly attributed to the demand for advanced Medical Device Technologies and the presence of leading players in this region. Factors such as the Eurozone debt crisis and uncertainty and variations in reimbursement across the region may hamper the growth of this market to a certain extent.

A breakdown of the primary participants for the top 10 Medical Device Technologies market referred to for this report is provided below:

By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3–20%

By Designation: C-level–35%, Director Level–25%, and Others–40%

By Region: North America–40%, Asia- Pacific–30%, Europe–20%, Middle East & Africa–5%, Latin America- 5%

The prominent players in the global top 10 Medical Device Technologies market are Abbott Laboratories, Inc. (US), Roche Diagnostics (Switzerland), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), Johnson & Johnson (US), Medtronic PLC (Ireland), Smith & Nephew PLC (UK), GE Healthcare (US).

Research Coverage:

This research report categorizes the top 10 Medical Device Technologies market by type and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the top 10 Medical Device Technologies market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the top 10 Medical Device Technologies market. Competitive analysis of upcoming startups in the top 10 Medical Device Technologies market ecosystem is covered in this report.

Reasons to Buy the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall top 10 Medical Device Technologies market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global top 10 Medical Device Technologies market

Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global top 10 Medical Device Technologies market

Market Development: Comprehensive information on the lucrative emerging regions by type and region

Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global top 10 Medical Device Technologies market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of leading players in the global top 10 Medical Device Technologies market.