Europe Medical Devices Market Research Report Information by Product Type (Drug Delivery System, Diagnostic Devices, Invasive Devices, Respiratory Therapeutic Devices, Electronic Medical Device, and Others), by Application (cardiovascular diseases, diagnostic imaging, orthopedics, oncology, ophthalmology, general surgery, respiratory, dental, ENT, neurology, nephrology & urology, and others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Homecare Settings And Others) Industry Forecast to 2032
It is anticipated that the European medical devices market will experience a substantial expansion at a healthy compound annual growth rate (CAGR) of 6.44% during the review period. Medical devices are any article that is designed to diagnose, prevent, treat, monitor, or alleviate disease or injury, including instruments, apparatuses, machinery, implants, in vitro reagents, or similar items. They span from basic instruments such as thermometers and tongue depressors to intricate devices such as MRI scanners and surgical robotics.
The medical devices market is experiencing growth due to the increasing acquisition and investment associated with medical devices, as well as the increasing incidences of chronic diseases throughout Europe. Also, the market is constrained by voluntary product recalls from market participants. Nevertheless, the market will experience development opportunities in the future because of the current and emerging technologies in medical devices.
Market SegmentationThe Europe medical devices market has been segmented into the following categories: drug delivery systems, diagnostic devices, invasive devices, respiratory therapeutic devices, electronic medical devices, and others. This subdivision is based on the category of product.
The Europe Medical Devices market has been segmented into the following categories: cardiovascular diseases, diagnostic imaging, orthopedics, oncology, ophthalmology, general surgery, respiratory, dental, ENT, neurology, nephrology, and urology and others.
The European Medical Devices market has been segmented according to the end user, including hospitals and clinics, ambulatory surgical centers, and homecare settings.
The European Medical Devices Market, which was valued at USD 1,59,198.01 million in 2022, is anticipated to expand at a compound annual growth rate (CAGR) of 6.44% over the forecast period. Europe is further divided into the following regions: Germany, France, the United Kingdom, Italy, Spain, Switzerland, the Netherlands, Turkey, Poland, Sweden, Norway, Belgium, Ireland, Austria, Denmark, and the Rest of Europe.
Major PlayersSiemens Healthineers AG (Germany), Medtronic plc, Johnson & Johnson Services, Inc., GE Healthcare, Koninklijke Philips N.V., Stryker, Abbott, and Boston Scientific Corporation are the primary competitors in the European medical device market.