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Medical Devices Global Market Expected to grow at a CAGR of 5.33% to nearly $521.64 billion by 2022 - Medtronic, Johnson & Johnson, Abbott Laboratories, Becton

08-27-2019 12:04 PM CET | Health & Medicine

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The report describes and evaluates the global medical devices market. It covers two five years' periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.

The global medical devices market reached a value nearly $423.8 billion in 2018, having grown at a compound annual growth rate (CAGR) of 5.28% since 2014, and is expected to grow at a CAGR of 5.33% to nearly $521.64 billion by 2022.

Growth in the historic period resulted from the rapid growth in the elderly population, strong economic growth and increasing access to healthcare facilities in emerging countries, adoption of advanced technologies in the manufacture of medical devices and rising healthcare expenditure globally. Factors that negatively affected growth in the historic period were the lack of awareness about chronic diseases and decreased healthcare reimbursements. Going forward, faster global economic growth, increasing prevalence of chronic diseases globally, and technological advances in the industry will drive the growth. Factors that could hinder the growth of the medical devices market in the future include regulatory changes that can potentially increase production costs for medical devices manufacturers, data security issues in connected medical devices, high costs and long payback periods for investments in new technologies, and the expected rise in interest rates.

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The medical devices market is segmented by type of equipment into in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices, and wound care devices. The cardiovascular devices market was the largest segment of the medical devices market, accounting for $64.5 billion or 15.2% of the total in 2018. It was followed by in-vitro diagnostics, diagnostic imaging equipment and then other segments. Going forward, the fastest growing segments in the medical devices market will be the patient monitoring devices and diabetes care devices segments, where growth will be at CAGRs of 8.2% and 7.6% respectively.

The medical devices market for the countries mentioned in this report is segmented by type of expenditure into public expenditure and private expenditure. The USA was the largest country in terms of private expenditure on medical devices, accounting for $88.98 billion in 2018. Going forward, the fastest growing countries with private expenditure on medical devices will be India and the UK, where growth in expenditures will be at CAGRs of 11.39% and 11.03% respectively. The USA was also the largest country in terms of public expenditure on medical devices, accounting for $76.92 billion in 2018. Going forward, the fastest growing countries with public expenditure on medical devices will be China and India, where growth in expenditures will be at CAGRs of 12.12% and 8.85% respectively.

The medical devices market mentioned in this report is segmented by type of end-user into hospitals and clinics, homecare and diagnostic centers. Hospitals and clinics was the largest segment of the medical devices market by type of end-user, accounting for $372.59 billion in 2018.

North America was the largest region in the global medical devices market, accounting for 42.6% of the total in 2018. It was followed by Western Europe, Asia-Pacific, and then the other regions. Going forward, the fastest growing regions in the medical devices market will be Asia-Pacific and South America, where growth will be at CAGRs of 7.07% and 6.53% respectively. These will be followed by Africa and the Middle East where the markets are expected to grow at CAGRs of 6.47% and 6.43% respectively.
The medical devices market is fairly concentrated, with a small number of large players constituting more than one-third of the market. The top ten competitors in the market made up to 35.8% in 2018.

Major players in the market include Medtronic Inc., Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company and Siemens Healthineers AG.

Markets Covered:
By Equipment Type: In-Vitro Diagnostics, Cardiovascular Devices, Diagnostic Imaging Equipment, Orthopedic Devices, Hospital Supplies, Ophthalmic Devices, Nephrology And Urology Devices, Dental Equipment And Supplies, Wound Care Devices, Diabetes Care Devices, Surgical Equipment, Neurology Devices, Anesthesia And Respiratory Devices, Patient Monitoring Devices, ENT Devices

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Table of Contents:

1. Medical Devices Market Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction
7. Medical Devices Market Characteristics
8. Medical Devices Market Product Analysis -Product Examples
9. Medical Devices Market, Supply Chain Analysis
10. Medical Devices Market Customer Information
11. Medical Devices Market Trends And Strategies
12. Medical Devices Market Opportunity Assessment, PESTEL Analysis
13. Global Medical Devices Market Regulatory Landscape
14. Global Medical Devices Market Size And Growth

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