The global medical devices market size was estimated at USD 577.26 billion in 2022 and is expected to hit around USD 577.26 billion by 2030 with a CAGR of 5.5% from 2022 to 2030.
Key Takeaway:
- By end-user, the hospitals and clinics segment has accounted 88.5% of the total revenue share in 2022.
- The diagnostics centers segment is growing at a CAGR of 10.3% from 2022 to 2030.
- North America region has dominated the market with 39.9% of the total revenue share in 2022.
The report has been prepared with extensive primary and secondary research. Primary research involved the majority of the research efforts, wherein analysts carried out interviews with key manufacturers, end-consumers, industry experts, independent consultants, and opinion-makers.
Secondary research involved referring to company websites, annual reports, investors’ presentations, press releases, patents database, import-export statistics, and other relevant documents to understand the medical devices market. Secondary research also included Precedence Research internal repository, industry associations, government agencies, and proprietary databases. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global medical devices market.
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The report includes an executive summary, along with a market overview and an elaborative analysis of the growth behavior in various segments that are included in the scope of the study. The report also covers a high-level picture of the production processes and product specifications pertaining to medical devices. Furthermore, the report provides insights on the changing competitive dynamics, which serve as valuable tools for existing market players as well as for entities interested in participating in the market.
In addition to the above, the report also explores the competitive landscape, in terms of identifying the global players operating in the medical devices market and comprehensive profiles of the key players, including their business overview, key financials, market shares, market footprints, production capacities, and strategic initiatives including new product developments, mergers & acquisitions, etc.
Some of the prominent players in the global medical devices market include:
- DePuy Synthes
- Medtronics Plc
- Fesenius Medical Care
- GE Healthcare
- Philips Healthcare
- Ethicon LLC
- Siemens Healthineers
- Stryker
- Cardinal Health
- Baxter International Inc.
- BD
Segments Covered in the Report
By Product
- Monitoring Devices
- Cardiac Monitoring Devices
- Neuromonitoring Devices
- Respiratory Monitoring Device
- Multi-Parameter Monitoring Devices
- Hemodynamic Monitoring Devices
- Fetal and Neonatal Monitoring Devices
- Temperature Monitoring Devices
- Weight Monitoring Devices
- Diagnostic Devices
- Surgical ENT Devices.
- Endoscopes
- Imaging Devices
- Diagnostic Molecular Devices
- Drug Delivery Devices
- Surgical Devices
- Bio Implants and Stimulation Devices
- Treatment Equipment
- Infusion Pumps
- Medical lasers and LASIK surgical machines
- Others
By Therapeutic Application
- Gastrointestinal surgery
- General Surgery
- Diagnostic Imaging
- Respiratory
- Orthopedics
- Cardiovascular
- Dental
- Neurology
- Ophthalmology
- Ear-Nose-Throat (ENT)
- Nephrology and Urology
- Others
By End User
- Hospitals & Clinics
- Diagnostic Centers
- Research laboratory
- Pharmaceutical companies
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Rest of the World
Research Methodology
Precedence Research employs a comprehensive and iterative research methodology focused on minimizing deviance to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain, and to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
- Market drivers and restraints, along with their current and expected impact
• Raw material scenario and supply v/s price trends
• Regulatory scenario and expected developments
• Current capacity and expected capacity additions up to 2030
Report content
Qualitative Analysis
- Industry overview
- Industry trends
- Market drivers and restraints
- Market size
- Growth prospects
- Porter’s analysis
- PESTEL analysis
- Key market opportunities prioritized
- Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments
Quantitative Analysis
- Market size, estimates, and forecast from 2017 to 2030
- Market estimates and forecast for product segments up to 2030
- Regional market size and forecast for product segments up to 2030
- Market estimates and forecast for application segments up to 2030
- Regional market size and forecast for application segments up to 2030
- Company financial performance
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Medical Devices Market
5.1. COVID-19 Landscape: Medical Devices Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Medical Devices Market, By Product
8.1. Medical Devices Market, by Product Type, 2022-2030
8.1.1. Monitoring Devices
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Cardiac Monitoring Devices
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Respiratory Monitoring Device
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Multi-Parameter Monitoring Devices
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Hemodynamic Monitoring Devices
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Fetal and Neonatal Monitoring Devices
8.1.6.1. Market Revenue and Forecast (2019-2030)
8.1.7. Temperature Monitoring Devices
8.1.7.1. Market Revenue and Forecast (2019-2030)
8.1.8. Weight Monitoring Devices
8.1.8.1. Market Revenue and Forecast (2019-2030)
8.1.9. Diagnostic Devices
8.1.9.1. Market Revenue and Forecast (2019-2030)
8.1.10. Surgical ENT Devices.
8.1.10.1. Market Revenue and Forecast (2019-2030)
8.1.11. Endoscopes
8.1.11.1. Market Revenue and Forecast (2019-2030)
8.1.12. Imaging Devices
8.1.12.1. Market Revenue and Forecast (2019-2030)
8.1.13. Diagnostic Molecular Devices
8.1.13.1. Market Revenue and Forecast (2019-2030)
8.1.14. Drug Delivery Devices
8.1.14.1. Market Revenue and Forecast (2019-2030)
8.1.15. Surgical Devices
8.1.15.1. Market Revenue and Forecast (2019-2030)
8.1.16. Bio Implants and Stimulation Devices
8.1.16.1. Market Revenue and Forecast (2019-2030)
8.1.17. Treatment Equipment
8.1.17.1. Market Revenue and Forecast (2019-2030)
8.1.18. Infusion Pumps
8.1.18.1. Market Revenue and Forecast (2019-2030)
8.1.19. Medical lasers and LASIK surgical machines
8.1.19.1. Market Revenue and Forecast (2019-2030)
8.1.20. Others
8.1.20.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Medical Devices Market, By Therapeutic Application
9.1. Medical Devices Market, by Therapeutic Application, 2022-2030
9.1.1. Gastrointestinal surgery
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. General Surgery
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Diagnostic Imaging
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Respiratory
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Orthopedics
9.1.5.1. Market Revenue and Forecast (2019-2030)
9.1.6. Cardiovascular
9.1.6.1. Market Revenue and Forecast (2019-2030)
9.1.7. Dental
9.1.7.1. Market Revenue and Forecast (2019-2030)
9.1.8. Neurology
9.1.8.1. Market Revenue and Forecast (2019-2030)
9.1.9. Ophthalmology
9.1.9.1. Market Revenue and Forecast (2019-2030)
9.1.10. Ear-Nose-Throat (ENT)
9.1.10.1. Market Revenue and Forecast (2019-2030)
9.1.11. Nephrology and Urology
9.1.11.1. Market Revenue and Forecast (2019-2030)
9.1.12. Others
9.1.12.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Medical Devices Market, By End User
10.1. Medical Devices Market, by End User, 2022-2030
10.1.1. Hospitals & Clinics
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Diagnostic Centers
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Research laboratory
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. Pharmaceutical Companies
10.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Medical Devices Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.1.3. Market Revenue and Forecast, by End User (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.1.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.1.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.2.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.2.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.2.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.2.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.2.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.3.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.3.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.3.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.3.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.3.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.4.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.4.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.4.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.4.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.5.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Therapeutic Application (2019-2030)
11.5.5.3. Market Revenue and Forecast, by End User (2019-2030)
Chapter 12. Company Profiles
12.1. Medtronics Plc
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Johnson & Johnson
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Fesenius Medical Care
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. DePuy Synthes
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Abbott Laboratories
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. GE Healthcare
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Philips Healthcare
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Ethicon LLC
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Siemens Healthineers AG
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Stryker
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Cardinal Health
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. Baxter International Inc.
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
12.13. BD
12.13.1. Company Overview
12.13.2. Product Offerings
12.13.3. Financial Performance
12.13.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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