Medical Devices Market Inclinations & Development Status Highlighted During Forecast Period 2018-2025

Press Release

Global Medical Devices Market was valued at USD 510 Billion in the year 2017. Global Medical Devices Market is further estimated to grow at a CAGR of 5.3 % from 2019 to reach USD 766.27 Billion by the year 2025. The North America region holds the highest Market share in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period. At a country level, US, China, and the U.S. are projected to grow strongly in the coming years due to increasing density of population.

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Major market players in Medical Devices Market are Medtronic plc, Johnson & Johnson, Cardinal Health Inc., Stryker Corp., General Electric Company, Becton Dickinson and Company, Koninklijke Philips N.V., Siemens AG, Boston Scientific Corp., GE Healthcare, and brief overview of 10 companies is also provided. Rising research and development expenses are catering to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

SWOT analysis of Medical Devices Market:
Strength:
Increasing number of aging population
Growing incidence of chronic conditions
Weakness:
High cost for medical devices
Opportunities:
Advancement in technology
Growth in research funding
Threats:
Inadequate regulatory compliance

The Global Medical Devices Market is segmented as By Application, Function, and Region. The Application Type is segmented surgical and Infection Control Devices, General Medical Devices, Cardiovascular Devices, Orthopedic Devices, Home Healthcare Devices and other Devices in which the orthopedic devices segment contributes to the highest Market share due to rising trend of knee replacement surgeries especially by older people.

Medical Devices Market Segmentation:
By Function
• Diagnostic and Monitoring
• Therapeutic
• Surgical
• Other

By Application
• Surgical and Infection Control Devices
• General Medical Devices
• Cardiovascular Devices
• Orthopedic Devices
• Home Healthcare Devices
• Other Devices

By Region
• North America
o USA
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
• APAC
o China
o India
o Japan
o Rest of Asia-Pacific
• RoW
o Latin America
o Middle East & Africa

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This post was originally published on Business Analytics