Exclusive Analysis of Medical Devices Market by Upcoming Trends, Future Demands and Forecast to 2030 | Johnson & Johnson, Medtronic, Stryker

Global medical device market was valued at US$ 509.81 billion in 2021 and is expected to reach US$ 972.54 billion by 2030, growing at an estimated CAGR of 7.6% over the forecast period.

Medical Devices Market Report added by Absolute Markets insights which includes market attributes, size, growth forecast, segmentation, regional analysis, competitive landscape, Medical Devices Market shares, upcoming trends of Medical Devices Market. Medical Devices Market report focuses on key dynamics of Medical Devices Market Industry sector. The potential of the Medical Devices Market has been examined along with the key challenges. The current Medical Devices Market scenario and predictions of the sector has also been studied. As per Medical Devices Market report, the Medical Devices Market has been further segmented into crucial segments. A brief of the industry with regards to the market size in terms of the volume and renumeration aspects, as well as the current picture of Medical Devices Market has been included in the report. The Medical Devices Market report provides information about the geographical segment of this vertical along with the firms that have completed a significant position across the marketplace.

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At present, the medical devices market is being driven majority by surging prevalence of chronic diseases like cancer, hypertension and diabetes. People suffering from these diseases are more prone to get infected with the dreadful coronavirus and this is likely to take up the demand for medical devices used for diagnosing any sort of disease.
While the medical devices market was mainly driven by technological advancements in the field of medical science, this same reason could cause a dent in its growth. Extensive use of electronic medical devices has made the humanity largely dependent on them. The involvement of medical devices in rendering any treatment starts from diagnosis and remains till monitoring and end results. The sale of remote patient monitoring devices has also brought in the risk of hacking as these devices use the internet to transfer patient’s data to a medical expert or physician. In recent past, there have several ransomware attacks on leading medical institutions.

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Top players operating in the Medical Device market:
• Johnson & Johnson
• Medtronic
• Stryker
• Philips
• Siemens Healthineers
• 3M Company
• others.

Key Findings of the Report:
• Due to the COVID-19 pandemic, the demand for one-use masks, hand sanitizers and eye gear has increased as these equipment’s are key to stay safe
• Increase of cardiovascular diseases and diabetes has led to increased demand for insulin pens and cardiac monitoring devices and this is why patient monitoring devices have the highest CAGR in the medical devices market
• As the demand for medical equipments like Ultrasound machines , X-RAY equipment remains the highest, the maximum amount of revenue for this industry is caused from the sale of these devices.
• Along with analytic centres, testing laboratories are key to regulate cause of any disease and to do so several devices is required. This eventually contributes in the growth of the market

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Segmentation of Medical Devices Market
By Type
o Electronics and Equipment – Highest Share
o Diagnostic Imaging – Highest Share
o X-Ray Equipment
o Ultrasound Systems
o Computed Tomography (CT) Scanners
o Magnetic Resonance Imaging Systems
o Others
o Patient Monitoring – Highest CAGR
 Cardiac Monitoring Devices
 Respiratory Monitoring Devices
 Others
o Diabetic Care Devices
 Insulin Pens
 Blood Glucose Meters
 Blood Glucose Test Strips
 Continuous Glucose Monitoring Device
 Others
o Orthopedic Devices
 Prosthetics
 Braces
 Fixation Devices
 Others
o Dental Diagnostics and Operative Devices
o Others
• Disposables and Consumables – Highest CAGR
o Wound Management Products
o Drug Delivery Products
o Diagnostic and Laboratory Disposables
o Dialysis Disposables
o Incontinence Products
o Respiratory Supplies
o Sterilization Supplies
o Non-woven Disposables
o Disposable Masks
o Disposable Eye Gear
o Disposable Gloves
o Hand Sanitizers
 Gel Sanitizers
 Foam Sanitizers
 Liquid Sanitizers
 Other Sanitizers
o Others
• Surgical Instruments
o Surgical Sutures and Staplers
o Handheld Surgical Devices
 Forceps and Spatulas
 Retractors
 Dilators
 Graspers
 Auxiliary Instruments
 Cutter Instruments
 Others
• Electrosurgical Devices
• Others
• IVD Reagents
o Antibodies
o Monoclonal
o Polyclonal
• Oligonucleotides
• Nucleic Acid Probes
• Purified Proteins or Peptides
• Other Reagents
• Implants
• Orthopedic Implants
• ENT Implants
• Breast Implants
• Dental Implants
• Cardiology related implants
• Others
 Others

By Region
o North America
• U.S.
• Canada
• Mexico
• Rest of North America
o Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
• Benelux Union
 Belgium
 The Netherlands
 Luxembourg
• Rest of Europe
o Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of Southeast Asia
• Rest of Asia Pacific
o Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
o Latin America
• Brazil
• Argentina
• Rest of Latin America

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