According to Nova one advisor, the global Medical Device Technologies market size is expected to hit around USD 851 billion by 2030 from valued at USD 551 billion in 2021 and growing at a CAGR of 6.9% from 2022 to 2030. Rise in prevalence of chronic diseases and increase in incidence of disability-adjusted life years are projected to fuel the growth of the global market during the forecast period
Increase in Geriatric Population: Key Driver
Report Scope of the Medical Device Technologies Market
Report Coverage |
Details |
Market Size |
USD 851 Billion by 2030 |
Growth Rate |
CAGR of 6.9% from 2022 to 2030 |
Largest Market |
North America |
Fastest Growing Market |
Asia Pacific |
Base Year |
2021 |
Forecast Period |
2022 to 2030 |
Segments Covered |
Device Type, End-user And Geography, |
Companies Mentioned |
|
Technological Innovations
Uncertain and Ambiguous Regulatory Environment to Hamper Market Growth
Europe and North America to Witness Advancements in Medical Device Technologies
The key regional segments of the global medical device technologies market include North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is predicted to stay at the forefront in terms of revenue among all regions in the market due to rising incidence of cancer, metabolic diseases, and large patient pool of individuals with chronic diseases & cardiovascular diseases that require crucial diagnosis & therapies. The demand for automated medical processes and the region being home to several med-tech giants is also contributing immensely to the North America medical device technologies market.
Moreover, the market in North America is driven by rise in prevalence of cardiovascular diseases and implementation of the Cancer Moonshot initiative to address the rapidly rising incidence of cancer. Around 1.5 million people experience heart attacks and stroke in the U.S. every year, while direct medical costs for cancer treatment accounted for US$ 363 Bn each year from 2016 to 2017. This includes the cost of health care services, medicines, and lost productivity due to death.
Europe is anticipated to trail North America in the global medical device technologies market revenue-wise. In vitro diagnostic devices are majorly fueling the growth of this regional market on account of high prevalence of cancer, stroke, and cardiovascular diseases.
In addition, increase in the number of diabetic patients and robust government investments in healthcare infrastructure are the major drivers of the medical device technologies market in Asia Pacific. According to the IDF, in 2020, around 580 million people in Asia Pacific were diabetic, comprising 60% of the world’s total diabetic population.
Medical Device Technologies Market: Key Developments
Some of the prominent players in the Medical Device Technologies Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Medical Device Technologies market
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders
Chapter 1. Introduction
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Assumptions
2.2. Research Methodology
3. Executive Summary
3.1. Global Medical Device Technologies Market Size (US$ Mn) and Distribution, by Geography, 2017 and 2030
3.2. Global Medical Device Technologies Market Size (US$ Mn), by Device Type, 2017 and 2030
4. Market Overview
4.1. Overview
4.2. Global Medical Device Technologies Market Size (US$ Mn) Forecast, 2017–2030
4.3. Global Medical Device Technologies Market: Porter's Five Forces Analysis
4.4. Global Medical Device Technologies Market Outlook
5. Market Dynamics
5.1. Drivers
5.1.1. Demand for rapid, minimally invasive, and non-invasive diagnostic tools and techniques
5.1.2. Increase in geriatric population
5.1.3. Favorable reimbursement scenario for treatment of neuropathic pain
5.1.4. Rise in Demand for Advanced Diagnostic Technology for Accurate Diagnosis of Life-threatening Diseases
5.1.5. Increase in demand for 3D Medical Imaging Equipment
5.1.6. Initiatives by Governments
5.1.7. Technological Advancements
5.1.8. Favorable reimbursement scenario
5.1.9. Increasing Prevalence of Diabetes
5.2. Restrains
5.2.1. Increasing demand for complementary and alternative medicines
5.2.2. Economic crisis and political reforms
5.2.3. Uncertain and ambiguous regulatory environment restraints in vitro diagnostics market
5.2.4. Rising Prices of Diabetes devices due to falling Reimbursements and Increasing Competition
5.2.5. High cost of medical devices
5.3. Opportunities
5.3.1. Lucrative opportunities in emerging economies
5.3.2. Cloud-based Medical Imaging
5.3.3. Increase in Medical Tourism
5.4. Reimbursement Scenario
5.4.1. Overview
5.4.2. U.S. Reimbursement Scenario
5.4.3. Germany Reimbursement Scenario
5.4.4. Japan Reimbursement Model
5.4.5. U.K. Reimbursement Model
5.4.6. France Reimbursement Model
5.4.7. Italy Reimbursement Scenario
5.4.8. Spain Reimbursement Model
5.4.9. India Reimbursement Scenario
5.5. PESTLE Analysis
5.5.1. Asia Pacific
5.5.2. Europe
5.5.3. North America
5.5.4. Rest of World
5.6. Installed Base
5.6.1. Installed Base – da Vinci Robotic Surgical System (2020)
5.6.2. Installed Base – CT Scanners (2020)
5.6.3. Installed Base – MRI Machines (2020)
5.6.4. Installed Base – PET Scanners (2020)
5.6.5. Installed Base – Mammography Machines (2020)
5.6.6. Installed Base – Gamma Cameras (2020)
5.6.7. Installed Base – Radiotherapy Equipment (2020)
5.6.8. Installed Base – Linear Accelerators (2020)
5.6.9. Installed Base – Insulin Pumps (2020)
5.6.10. Installed Base – Cath Labs (2020)
5.6.11. Installed Base – Molecular Diagnostics Systems
5.7. Evolution of Medical Device Technologies
5.7.1. Overview
5.7.2. Evolution of Blood Glucose Monitors
5.7.3. Evolution of Inhalation Therapy
5.7.4. Evolution of Insulin Pump
5.7.5. Evolution of Pacemaker
5.7.6. Medical Devices Innovation Overview
5.7.7. Innovation: A Competitive Necessity
5.7.8. Leading Practices in Managing and Fostering Innovation
5.7.9. New Entrants in Medtech Managing Innovation- A Threat to Existing Companies
5.7.10. Medtech Innovation Process for Future
6. Global Medical Device Technologies Market Analysis, by Device Type
6.1. Introduction
6.2. Global Medical Device Technologies Market Value Share Analysis, by Device Type
6.3. Medical Device Technologies Market Analysis, by Device Type
6.3.1. In Vitro Diagnostic (IVD) Devices
6.3.2. Cardiology Devices
6.3.3. Diagnostic Imaging Devices
6.3.4. Orthopedic Devices
6.3.5. Ophthalmology Devices
6.3.6. Endoscopy Devices
6.3.7. Diabetes Care Devices
6.3.8. Wound Management Devices
6.3.9. Kidney/Dialysis Devices
6.3.10. Anesthesia & Respiratory Care Devices
6.3.11. Others
6.4. Global Medical Device Technologies Market Attractiveness Analysis, by Device Type
6.5. Key Trends
7. Global Medical Device Technologies Market Analysis, by End-user
7.1. Introduction
7.2. Global Medical Device Technologies Market Value Share Analysis, by End-user
7.3. Global Medical Device Technologies Market Analysis, by End-user
7.3.1. Academics & Research
7.3.2. Hospitals
7.3.3. Clinics
7.3.4. Diagnostic Centers
7.3.5. Ambulatory Surgery Centers
7.3.6. Others
7.4. Global Medical Device Technologies Market Attractiveness Analysis, by End-user
7.5. Key Trends
8. Global Medical Device Technologies Market Analysis, by Region
8.1. Global Medical Device Technologies Market Snapshot, by Country
8.2. Global Medical Device Technologies Market Value Share Analysis, by Region
8.3. Global Medical Device Technologies Market Forecast, by Region
8.4. Global Medical Device Technologies Market Attractiveness Analysis, by Region
9. North America Medical Device Technologies Market Analysis
9.1. Key Findings
9.2. North America Medical Device Technologies Market Overview
9.3. Market Value Share Analysis, by Country
9.4. Market Size (US$ Mn) Forecast, by Country, 2017–2030
9.4.1. U.S.
9.4.2. Canada
9.5. North America Market Value Share Analysis, by Device Type
9.6. North America Market Forecast, by Device Type
9.6.1. In Vitro Diagnostic (IVD) Devices
9.6.2. Cardiology Devices
9.6.3. Diagnostic Imaging Devices
9.6.4. Orthopedic Devices
9.6.5. Ophthalmology Devices
9.6.6. Endoscopy Devices
9.6.7. Diabetes Care Devices
9.6.8. Wound Management Devices
9.6.9. Kidney/Dialysis Devices
9.6.10. Anesthesia & Respiratory Care Devices
9.6.11. Others
9.7. North America Market Value Share Analysis, by End-user
9.8. North America Medical Device Technologies Market Analysis, by End-user
9.8.1. Academics & Research
9.8.2. Hospitals
9.8.3. Clinics
9.8.4. Diagnostic Centers
9.8.5. Ambulatory Surgery Centers
9.8.6. Others
9.9. Market Attractiveness Analysis
9.9.1. By Device Type
9.9.2. By End-user
9.9.3. By Country
9.10. Market Trends
10. Europe Medical Device Technologies Market Analysis
10.1. Key Findings
10.2. Europe Medical Device Technologies Market Overview
10.3. Market Value Share Analysis, by Country/Sub-region
10.4. Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
10.4.1. Germany
10.4.2. France
10.4.3. U.K.
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Poland
10.4.8. Rest of Europe
10.5. Europe Market Value Share Analysis, by Device Type
10.6. Europe Market Forecast, by Device Type
10.6.1. In Vitro Diagnostic (IVD) Devices
10.6.2. Cardiology Devices
10.6.3. Diagnostic Imaging Devices
10.6.4. Orthopedic Devices
10.6.5. Ophthalmology Devices
10.6.6. Endoscopy Devices
10.6.7. Diabetes Care Devices
10.6.8. Wound Management Devices
10.6.9. Kidney/Dialysis Devices
10.6.10. Anesthesia & Respiratory Care Devices
10.6.11. Others
10.7. Europe Market Value Share Analysis, by End-user
10.8. Europe Medical Device Technologies Market Analysis, by End-user
10.8.1. Academics & Research
10.8.2. Hospitals
10.8.3. Clinics
10.8.4. Diagnostic Centers
10.8.5. Ambulatory Surgery Centers
10.8.6. Others
10.9. Market Attractiveness Analysis
10.9.1. By Device Type
10.9.2. By End-user
10.9.3. By Country/Sub-region
10.10. Market Trends
11. Asia Pacific Medical Device Technologies Market Analysis
11.1. Key Findings
11.2. Asia Pacific Medical Device Technologies Market Overview
11.3. Market Value Share Analysis, by Country/Sub-region
11.4. Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
11.4.1. Japan
11.4.2. China
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Asia Pacific Market Value Share Analysis, by Device Type
11.6. Asia Pacific Market Forecast, by Device Type
11.6.1. In Vitro Diagnostic (IVD) Devices
11.6.2. Cardiology Devices
11.6.3. Diagnostic Imaging Devices
11.6.4. Orthopedic Devices
11.6.5. Ophthalmology Devices
11.6.6. Endoscopy Devices
11.6.7. Diabetes Care Devices
11.6.8. Wound Management Devices
11.6.9. Kidney/Dialysis Devices
11.6.10. Anesthesia & Respiratory Care Devices
11.6.11. Others
11.7. Asia Pacific Market Value Share Analysis, by End-user
11.8. Asia Pacific Medical Device Technologies Market Analysis, by End-user
11.8.1. Academics & Research
11.8.2. Hospitals
11.8.3. Clinics
11.8.4. Diagnostic Centers
11.8.5. Ambulatory Surgery Centers
11.8.6. Others
11.9. Market Attractiveness Analysis
11.9.1. By Device Type
11.9.2. By End-user
11.9.3. By Country/Sub-region
11.10. Market Trends
12. Latin America Medical Device Technologies Market Analysis
12.1. Key Findings
12.2. Latin America Medical Device Technologies Market Overview
12.3. Market Value Share Analysis, by Country/Sub-region
12.4. Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Latin America Market Value Share Analysis, by Device Type
12.6. Latin America Market Forecast, by Device Type
12.6.1. In Vitro Diagnostic (IVD) Devices
12.6.2. Cardiology Devices
12.6.3. Diagnostic Imaging Devices
12.6.4. Orthopedic Devices
12.6.5. Ophthalmology Devices
12.6.6. Endoscopy Devices
12.6.7. Diabetes Care Devices
12.6.8. Wound Management Devices
12.6.9. Kidney/Dialysis Devices
12.6.10. Anesthesia & Respiratory Care Devices
12.6.11. Others
12.7. Latin America Market Value Share Analysis, by End-user
12.8. Latin America Medical Device Technologies Market Analysis, by End-user
12.8.1. Academics & Research
12.8.2. Hospitals
12.8.3. Clinics
12.8.4. Diagnostic Centers
12.8.5. Ambulatory Surgery Centers
12.8.6. Others
12.9. Market Attractiveness Analysis
12.9.1. By Device Type
12.9.2. By End-user
12.9.3. By Country/Sub-region
12.10. Market Trends
13. Middle East & Africa Medical Device Technologies Market Analysis
13.1. Key Findings
13.2. Middle East & Africa Medical Device Technologies Market Overview
13.3. Market Value Share Analysis, by Country/Sub-region
13.4. Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
13.4.1. South Africa
13.4.2. GCC Countries
13.4.3. Rest of Middle East & Africa
13.5. Middle East & Africa Market Value Share Analysis, by Device Type
13.6. Middle East & Africa Market Forecast, by Device Type
13.6.1. In Vitro Diagnostic (IVD) Devices
13.6.2. Cardiology Devices
13.6.3. Diagnostic Imaging Devices
13.6.4. Orthopedic Devices
13.6.5. Ophthalmology Devices
13.6.6. Endoscopy Devices
13.6.7. Diabetes Care Devices
13.6.8. Wound Management Devices
13.6.9. Kidney/Dialysis Devices
13.6.10. Anesthesia & Respiratory Care Devices
13.6.11. Others
13.7. Middle East & Africa Market Value Share Analysis, by End-user
13.8. Middle East & Africa Medical Device Technologies Market Analysis, by End-user
13.8.1. Academics & Research
13.8.2. Hospitals
13.8.3. Clinics
13.8.4. Diagnostic Centers
13.8.5. Ambulatory Surgery Centers
13.8.6. Others
13.9. Market Attractiveness Analysis
13.9.1. By Device Type
13.9.2. By End-user
13.9.3. By Country/Sub-region
13.10. Market Trends
14. Competition Landscape
14.1. Company Share Analysis
14.1.1. Top 10 Companies in the Global Medical Device Technologies Market
14.1.2. Market Share Analysis of the Global Medical Device Technologies Market, by Segment
14.1.2.1. In Vitro Diagnostic (IVD) Devices
14.1.2.2. Cardiology Devices
14.1.2.3. Diagnostic Imaging Devices
14.1.2.4. Orthopedic Devices
14.1.2.5. Ophthalmology Devices
14.1.2.6. Endoscopy Devices
14.1.2.7. Diabetes Care Devices
14.1.2.8. Wound Management Devices
14.1.2.9. Kidney/Dialysis Devices
14.1.2.10. Anesthesia & Respiratory Care Devices
14.2. Company Profiles
14.2.1. Abbott Laboratories
14.2.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.1.2. Product Portfolio
14.2.1.3. SWOT Analysis
14.2.1.4. Financial Overview
14.2.1.5. Strategic Overview
14.2.2. Boston Scientific Corporation
14.2.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.2.2. Product Portfolio
14.2.2.3. SWOT Analysis
14.2.2.4. Financial Overview
14.2.2.5. Strategic Overview
14.2.3. Baxter International, Inc.
14.2.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.3.2. Product Portfolio
14.2.3.3. SWOT Analysis
14.2.3.4. Financial Overview
14.2.3.5. Strategic Overview
14.2.4. Medtronic plc
14.2.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.4.2. Product Portfolio
14.2.4.3. SWOT Analysis
14.2.4.4. Financial Overview
14.2.4.5. Strategic Overview
14.2.5. Cardinal Health, Inc.
14.2.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.5.2. Product Portfolio
14.2.5.3. SWOT Analysis
14.2.5.4. Financial Overview
14.2.5.5. Strategic Overview
14.2.6. F. Hoffmann-La Roche Ltd.
14.2.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.6.2. Product Portfolio
14.2.6.3. SWOT Analysis
14.2.6.4. Financial Overview
14.2.6.5. Strategic Overview
14.2.7. GE Healthcare
14.2.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.7.2. Product Portfolio
14.2.7.3. SWOT Analysis
14.2.7.4. Financial Overview
14.2.7.5. Strategic Overview
14.2.8. Johnson & Johnson
14.2.8.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.8.2. Product Portfolio
14.2.8.3. SWOT Analysis
14.2.8.4. Financial Overview
14.2.8.5. Strategic Overview
14.2.9. Siemens Healthineers
14.2.9.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.9.2. Product Portfolio
14.2.9.3. SWOT Analysis
14.2.9.4. Financial Overview
14.2.9.5. Strategic Overview
14.2.10. Smith & Nephew plc
14.2.10.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.10.2. Product Portfolio
14.2.10.3. SWOT Analysis
14.2.10.4. Financial Overview
14.2.10.5. Strategic Overview
14.2.11. Stryker Corporation
14.2.11.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.11.2. Product Portfolio
14.2.11.3. SWOT Analysis
14.2.11.4. Financial Overview
14.2.11.5. Strategic Overview
14.2.12. Koninklijke Philips N.V.
14.2.12.1. Company Overview (HQ, Business Segments, Employee Strength)
14.2.12.2. Product Portfolio
14.2.12.3. SWOT Analysis
14.2.12.4. Financial Overview
14.2.12.5. Strategic Overview