Medical Device Engineering Market Size, Share, Trends, Industry Analysis Report: By Service Type, Device Type (Diagnostic Imaging Equipment, Surgical Equipment, Patient Monitoring Devices & Life Support Devices, Medical Lasers, IVD Devices, and Other Medical Devices), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
The medical device engineering market size is expected to reach USD 23.35 billion by 2034, according to a new study by Polaris Market Research. The report “Medical Device Engineering Market Size, Share, Trends, Industry Analysis Report: By Service Type, Device Type (Diagnostic Imaging Equipment, Surgical Equipment, Patient Monitoring Devices & Life Support Devices, Medical Lasers, IVD Devices, and Other Medical Devices), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The medical device engineering market involves the design, development, and manufacturing of medical devices, driven by advancements in technology, increased healthcare needs, and regulatory compliance. It encompasses a wide range of products, including diagnostic equipment, therapeutic devices, monitoring systems, and surgical instruments, all of which require precision engineering to ensure functionality, safety, and effectiveness.
The market is influenced by rising healthcare demands, an aging global population, and an increasing focus on preventive care, which drives the need for more innovative medical solutions. Additionally, regulatory standards and patient safety requirements are pushing for more sophisticated engineering processes.
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The medical device engineering industry is increasingly shifting towards software-defined devices, where software plays a central role in device functionality. This approach of shifting allows for the continuous improvement and optimization of medical devices through regular software updates, similar to smartphone apps. The updates add new features, fix bugs, and improve performance without the need for hardware changes. Moreover, software-defined medical devices offer greater flexibility, enabling rapid adaptation to new medical protocols and technologies. This trend is improving the user experience by providing healthcare professionals and patients with more advanced and versatile tools for diagnostics, treatment, and monitoring.
Medical Device Engineering Market Report Highlights
In 2024, software development and testing services led the global medical device engineering market, driven by the growing dependence on software to enhance the functionality and performance of medical devices.
The diagnostic imaging equipment segment is projected to experience the highest CAGR during the forecast period, driven by the rising incidence of chronic diseases and a growing aging population.
In 2024, North America led the medical engineering device market, driven by a well-developed healthcare infrastructure and strong demand for advanced technologies such as AI and IoT.
Asia Pacific is the fastest-growing market for medical device engineering, driven by rapid economic expansion in countries such as China and India, along with rising healthcare expenditures and investments in advanced technologies.
A few global key market players include L&T Technology Services Limited, Infosys Limited, HCL Technologies Limited, Cyient, Wipro, Tech Mahindra Limited, TATA Consultancy Services Limited, Able Medical Devices Inc., Embien Technologies India Pvt Ltd., Sintec Optronics Ltd, and Medtronic.
Polaris Market Research has segmented the medical device engineering market report on the basis of service type, device type, and region:
By Service Type Outlook (Revenue, USD Billion, 2020–2034)
Product Innovation & Design/Industrial Design Services
Prototyping Services
Electronics Engineering Services
Software Development & Testing Services
Connectivity and Mobility Services
Cybersecurity Services
Product Testing Services
Regulatory Consulting Services
Product Support & Maintenance Services
By Device Type Outlook (Revenue, USD Billion, 2020–2034)
Diagnostic Imaging Equipment
Surgical Equipment
Patient Monitoring Devices & Life Support Devices
Medical Lasers
Ivd Devices
Other Medical Devices
By Regional Outlook (Revenue, USD Billion, 2020–2034)
North America
- US
- Canada
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Vietnam
- Rest of Asia Pacific
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives Of The Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Medical Device Engineering Insights
- 4.1. Medical Device Engineering – Market Snapshot
- 4.2. Medical Device Engineering Dynamics
- 4.2.1. Drivers And Opportunities
- 4.2.1.1. Industry 4.0 Is Significantly Impacting The Medical Device Engineering
- 4.2.1.2. Regulatory Improvements Boost Innovation
- 4.2.2. Restraints And Challenges
- 4.2.2.1. High Cost And Investment Demands Will Constrain Growth
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power Of Suppliers (Moderate)
- 4.3.2. Threats Of New Entrants: (Low)
- 4.3.3. Bargaining Power Of Buyers (Moderate)
- 4.3.4. Threat Of Substitute (Moderate)
- 4.3.5. Rivalry Among Existing Firms (High)
- 4.4. Pestel Analysis
- 4.5. Medical Device Engineering Device Type Trends
- 4.6. Value Chain Analysis
- 4.7. Covid-19 Impact Analysis
- 5. Medical Device Engineering, By Service Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 5.3. Product Innovation & Design/Industrial Design Services
- 5.3.1. Medical Device Engineering, By Product Innovation & Design/Industrial Design Services, By Region, 2020-2034 (Usd Billion)
- 5.4. Prototyping Services
- 5.4.1. Medical Device Engineering, By Prototyping Services, By Region, 2020-2034 (Usd Billion)
- 5.5. Surgical Equipment Engineering Services
- 5.5.1. Medical Device Engineering, By Surgical Equipment Engineering Services, By Region, 2020-2034 (Usd Billion)
- 5.6. Software Development & Testing Services
- 5.6.1. Medical Device Engineering, By Software Development & Testing Services, By Region, 2020-2034 (Usd Billion)
- 5.7. Connectivity And Mobility Services
- 5.7.1. Medical Device Engineering, By Connectivity And Mobility Services, By Region, 2020-2034 (Usd Billion)
- 5.8. Cybersecurity Services
- 5.8.1. Medical Device Engineering, By Cybersecurity Services, By Region, 2020-2034 (Usd Billion)
- 5.9. Product Testing Services
- 5.9.1. Medical Device Engineering, By Product Testing Services, By Region, 2020-2034 (Usd Billion)
- 5.10. Regulatory Consulting Services
- 5.10.1. Medical Device Engineering, By Regulatory Consulting Services, By Region, 2020-2034 (Usd Billion)
- 5.11. Product Support & Maintenance Services
- 5.11.1. Medical Device Engineering, By Product Support & Maintenance Services, By Region, 2020-2034 (Usd Billion)
- 6. Medical Device Engineering, By Device Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 6.3. Diagnostic Imaging Equipment
- 6.3.1. Medical Device Engineering, By Diagnostic Imaging Equipment, By Region, 2020-2034 (Usd Billion)
- 6.4. Surgical Equipment
- 6.4.1. Medical Device Engineering, By Surgical Equipment, By Region, 2020-2034 (Usd Billion)
- 6.5. Patient Monitoring Devices & Life Support Devices
- 6.5.1. Medical Device Engineering, By Patient Monitoring Devices & Life Support Devices, By Region, 2020-2034 (Usd Billion)
- 6.6. Medical Lasers
- 6.6.1. Medical Device Engineering, By Medical Lasers, By Region, 2020-2034 (Usd Billion)
- 6.7. Ivd Devices
- 6.7.1. Medical Device Engineering, By Ivd Devices, By Region, 2020-2034 (Usd Billion)
- 6.8. Other Medical Devices
- 6.8.1. Medical Device Engineering, By Other Medical Devices, By Region, 2020-2034 (Usd Billion)
- 7. Medical Device Engineering, By Geography
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Medical Device Engineering Assessment, By Geography, 2020-2034 (Usd Billion)
- 7.3. Medical Device Engineering – North America
- 7.3.1. North America: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.3.2. North America: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.3.3. Medical Device Engineering – U.S.
- 7.3.3.1. U.S.: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.3.3.2. U.S.: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.3.4. Medical Device Engineering – Canada
- 7.3.4.1. Canada: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.3.4.2. Canada: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4. Medical Device Engineering – Europe
- 7.4.1. Europe: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.2. Europe: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.3. Medical Device Engineering – Uk
- 7.4.3.1. Uk: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.3.2. Uk: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.4. Medical Device Engineering – France
- 7.4.4.1. France: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.4.2. France: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.5. Medical Device Engineering – Germany
- 7.4.5.1. Germany: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.5.2. Germany: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.6. Medical Device Engineering – Italy
- 7.4.6.1. Italy: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.6.2. Italy: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.7. Medical Device Engineering – Spain
- 7.4.7.1. Spain: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.7.2. Spain: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.8. Medical Device Engineering – Netherlands
- 7.4.8.1. Netherlands: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.8.2. Netherlands: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.9. Medical Device Engineering – Russia
- 7.4.9.1. Russia: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.9.2. Russia: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.4.10. Medical Device Engineering – Rest Of Europe
- 7.4.10.1. Rest Of Europe: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.4.10.2. Rest Of Europe: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5. Medical Device Engineering – Asia Pacific
- 7.5.1. Asia Pacific: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.2. Asia Pacific: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.3. Medical Device Engineering – China
- 7.5.3.1. China: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.3.2. China: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.4. Medical Device Engineering – India
- 7.5.4.1. India: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.4.2. India: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.5. Medical Device Engineering – Malaysia
- 7.5.5.1. Malaysia: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.5.2. Malaysia: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.6. Medical Device Engineering – Japan
- 7.5.6.1. Japan: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.6.2. Japan: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.7. Medical Device Engineering – Indonesia
- 7.5.7.1. Indonesia: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.7.2. Indonesia: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.8. Medical Device Engineering – South Korea
- 7.5.8.1. South Korea: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.8.2. South Korea: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.9. Medical Device Engineering – Australia
- 7.5.9.1. Australia: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.9.2. Australia: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.5.10. Medical Device Engineering – Rest Of Asia Pacific
- 7.5.10.1. Rest Of Asia Pacific: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.5.10.2. Rest Of Asia Pacific: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6. Medical Device Engineering – Middle East & Africa
- 7.6.1. Middle East & Africa: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.2. Middle East & Africa: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6.3. Medical Device Engineering – Saudi Arabia
- 7.6.3.1. Saudi Arabia: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.3.2. Saudi Arabia: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6.4. Medical Device Engineering – Uae
- 7.6.4.1. Uae: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.4.2. Uae: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6.5. Medical Device Engineering – Israel
- 7.6.5.1. Israel: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.5.2. Israel: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6.6. Medical Device Engineering – South Africa
- 7.6.6.1. South Africa: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.6.2. South Africa: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.6.7. Medical Device Engineering – Rest Of Middle East & Africa
- 7.6.7.1. Rest Of Middle East & Africa: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.6.7.2. Rest Of Middle East & Africa: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.7. Medical Device Engineering – Latin America
- 7.7.1. Latin America: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.7.2. Latin America: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.7.3. Medical Device Engineering – Mexico
- 7.7.3.1. Mexico: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.7.3.2. Mexico: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.7.4. Medical Device Engineering – Brazil
- 7.7.4.1. Brazil: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.7.4.2. Brazil: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.7.5. Medical Device Engineering – Argentina
- 7.7.5.1. Argentina: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.7.5.2. Argentina: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 7.7.6. Medical Device Engineering – Rest Of Latin America
- 7.7.6.1. Rest Of Latin America: Medical Device Engineering, By Service Type, 2020-2034 (Usd Billion)
- 7.7.6.2. Rest Of Latin America: Medical Device Engineering, By Device Type, 2020-2034 (Usd Billion)
- 8. Competitive Landscape
- 8.1. Expansion And Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. L&T Technology Services Limited
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Infosys Limited
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Hcl Technologies Limited
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Cyient
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Wipro
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Tech Mahindra Limited
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Tata Consultancy Services Limited
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Able Medical Devices Inc.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Embien Technologies India Pvt Ltd.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Sintec Optronics Ltd
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Medtronic
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
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