Global Medical Device and Accessories Market, By Type (Diagnostic Devices, Therapeutic Devices), Device Type (Coronary Pressure Monitors, Catheters, Therapeutic Medical Guide, Cochlear Implant, Cardiovascular Application, Dental Implant, Nerve Stimulator, Diabetes Monitors, Suture Needles), Application (Urology, Wound Care, Radiology, Respiratory, Infection Control, Cardiology, In Vitro Diagnostics, Others), End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Medical device and accessories market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 181,354.14 million by 2028 and will grow at a CAGR of 6.41% in the above mentioned forecast period.
Medical devices and accessories largely offer various advantages both to patient by helping the healthcare providers to diagnose and treat patient. Also they help the patients to their quality of life.
The growing government and companies investment in healthcare projects and infrastructure development is amongst the important factors intensifying the growth and demand of medical device and accessories market. In addition, the rising prevalence of chronic diseases across the globe and growing number of surgical procedures are also contributing to the growth in the global market over the forecast period of 2021 to 2028. Also the increasing economic growth and rising geriatric population are also enhancing the growth of the market. Furthermore, the increasing use of non-invasive devices and increasing disease awareness are also one of the significant factors fueling the growth of the medical device and accessories market. Increasing demand for infection control measures to curtail the occurrence of hospital-acquired infections will also make sure high industry growth over the forecast period.
The rapidly increasing number of agreements between companies to manufacture cost-effective medical devices, increasing medical tourism and high demand for medical devices are offering significant growth opportunities for the market in the forecast period of 2021 to 2028.
However, the lack of awareness regarding these instrument treatments as well as the lack of research and development in the underdeveloped will curb the growth of the medical device and accessories market, whereas the stringent government regulation and pricing pressure has the potential to challenge the growth of the medical device and accessories market.
This medical device and accessories market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on medical device and accessories market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Medical Device and Accessories Market Scope and Market Size
Medical device and accessories market is segmented on the basis of type, device type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Medical device and accessories market is segmented on the basis of type into diagnostic devices and therapeutic devices.
- On the basis of device type, the medical device and accessories market is segmented into coronary pressure monitors, catheters, therapeutic medical guide, cochlear implant, cardiovascular application, dental implant, nerve stimulator, diabetes monitors and suture needles.
- Based on application, the medical device and accessories market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, in vitro diagnostics and others.
- The end user segment of medical device and accessories market is segmented into hospitals, ambulatory surgical centers, clinics and others.
Medical Device and Accessories Market Country Level Analysis
Medical device and accessories market is analyzed and market size insights and trends are provided by country, type, device type, application and end user as referenced above.
The countries covered in the medical device and accessories market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the medical device and accessories market owing to the presence of major key players as well as strong presence of huge patient population, soaring healthcare expenditure and well-developed technology within the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rapidly improving technology, growing need for better monitoring devices and the presence of large patient pool within this particular region.
The country section of the medical device and accessories market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Medical device and accessories market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical device and accessories market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical device and accessories market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Medical Device and Accessories Market Share Analysis
Medical device and accessories market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical device and accessories market.
The major players covered in the medical device and accessories market report are Abbott, Medtronic, Koninklijke Philips N.V., SAMSUNG, BD, Johnson & Johnson Services, Inc., Stryker, GENERAL ELECTRIC COMPANY, Siemens Healthcare GmbH, Danaher, Boston Scientific Corporation, Baxter, 3M, Cook, Merit Medical Systems, Thermo Fisher Scientific, Inc., Smith+Nephew, B. Braun Melsungen AG, Cardinal Health and Fresenius Medical Care AG & Co. KGaA among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.