GE Healthcare, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA are Dominating the Global Medical Devices Market in 2020

Global Medical Devices Market is expected to grow with the CAGR of 5.3% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global medical devices market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.   

The major players dealing in the global medical devices market are introducing strong range of medical devices and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance,

  • in November 2020, Koninklijke Philips N.V. announced the expansion of its home care portfolio for chronic obstructive pulmonary disease patients with first-of-its-kind non-invasive ventilator. This expansion estimated to bolster company’s product portfolio and growth pace.

GE Healthcare is the dominating player in medical devices market. The other key players existing in the market are Koninklijke Philips N.V., Medtronic, Drägerwerk AG & Co. KGaA, VYAIRE, Getinge AB, Smiths Medical Inc. (A part of Smiths Group plc.), NDD Medical Technologies, ResMed, Invacare Corporation, NIDEK MEDICAL, O2 CONCEPTS, LLC, Teijin Limited, GCE Healthcare, Inogen, Inc, Teleflex Incorporated, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., MGC Diagnostics Corporation, HILL-ROM, Drive DeVilbiss Healthcare Inc., Midmark Corporation, CAIRE Inc., GCE Group, Fisher & Paykel Healthcare Limited and Schiller, among others.

Medical Devices MarketGE Healthcare

GE Healthcare Company mainly focuses in the pursuit of precision health along with improved outcomes for healthcare providers and for therapy innovators around the world. The company has wide product categories such as Accessories and supplies, advanced visualization, anesthesia delivery, bone and metabolic health, computed tomography, contrast media, diagnostic ECG, edison, EP recording, goldseal - refurbished systems, healthcare IT, Hemodynamic recording, interoperability, interventional image guided systems, life sciences, magnetic resonance imaging, mammography, maternal infant care, molecular imaging, nuclear imaging agents, patient monitoring, radiography, fluoroscopy systems, surgical imaging, ultrasound, ventilators in which anaesthesia delivery, ventilators is the market focused category. 

For instance,

  • In April 2020, GE Healthcare’s manufacturing units explore the convergence of advance technologies for manufacturing of ventilators such as 3D printing, augmented reality, robotics and big data. The primary purpose behind this is to enhance the production of ventilators and accomplish the growing requirement of ventilators due to pandemic outbreak of COVID-19.

The company has wide presence across Asia-Pacific, Europe, Middle East and Africa, North America, and South America. The company also has various subsidiary companies such as Hyclone Laboratories Inc (U.K.), Dharmacon (U.S.), VersaMed Corporation (U.S.), GE Healthcare IT (U.S.), GE Healthcare’s eMedia Studios and Services (U.S.).

Koninklijke Philips N.V.  

Koninklijke Philips N.V. is headquartered in Amsterdam, Netherlands. Koninklijke Philips N.V. was founded in the year 1891. The company is engaged in offering diagnostic imaging, patient monitoring, image-guided therapy and health informatics and also solutions in consumer health and home care. The company operates its business through business segments which are diagnosis & treatment businesses, personal health businesses, connected care & health, other in which diagnosis & treatment businesses is the market focused segment. The company has product categories which are for Consumer, For Professionals (Healthcare) in which for Consumer is the market focused categories.

  • In November 2020, Koninklijke Philips N.V. announced the expansion of its home care portfolio for Chronic obstructive pulmonary disease patients with first-of-its-kind non-invasive ventilator. This expansion estimated to bolster company’s product portfolio and growth pace.

The company has presence across Europe, North America, South America, Asia-Pacific, Middle East and Africa. The company also has various subsidiary companies such as Philips GmbH (Germany), Philips Consumer Lifestyle B.V. (The Netherlands), Philips Medical Systems Nederland B.V. (The Netherlands), Philips Ultrasound, Inc. (U.S.), Philips Oral Healthcare, LLC (U.S.) among others.

Drägerwerk AG & Co. KGaA

Drägerwerk AG & Co. KGaA is headquartered in Lübeck, Germany and was founded in 1889. Company is engaged in the manufacturing and developing in the fields of medical and safety technology products. The company operates its business through business segments which are medical business, safety business in which medical business is the market focused segment.  The company has various product categories that are accessories-consumables, anesthesia-devices, th-alcohol-and-drug-testing, clinical-information-systems, jaundice-management, medical-lights, neonatal-ventilation and others in which ventilation and respiratory monitoring, anaesthesia-devices, neonatal-ventilation is the market focused category.  

  • In May 2020, Drägerwerk AG & Co. KGaA launched Evita V600 and V800, and Babylog VN600 and VN800 are Dräger's for the intensive care ventilation of adults to premature babies. The main focus of the company to provide clearer and better user guidance. This product launch has helped the company to gain more recognition in the market.

The company has presence in Ventilation and Respiratory Monitoring, Anaesthesia-Devices, Neonatal-Ventilation. The company also has various subsidiary companies such as Maquet (USA), Huntleigh Technology (U.K.), Datascope Corp. (U.S.), Maquet-Dynamed, Inc. (Canada), Maquet Critical Care AB (Sweden) and others.


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