Medical Devices Market 2022 Trend, Opportunities, PESTEL Analysis, CAGR and Value Chain Study to 2027 | 3M Co, Abbott Laboratories, Bayer, Boston Scientific Corp, Danaher, Depuy Synthes, Essilor International SA, GE Healthcare, Getinge Ab, Johnson and Joh

Astute Analytica published a new report on the Medical Devices Market. The research report comprehends the present status of competitive market conditions, which helps firms to make the necessary decisions for growth or profitability with ease.

The global medical devices market was valued at US$ 434.2 Billion in 2021 and is and is estimated to reach USD 625.3 Billion by 2027, growing at a CAGR of 6.3% during the forecast period.

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This report also formulates a survey addressing small variables applicable specifically to new applicants as well as major concerns impacting all players in this field generally.

Leading Players

The players profiled in the report include the following - 3M Co., Abbott Laboratories, Allergan Inc., Baxter International Inc., Bayer, Becton Dickinson and Co., Boston Scientific Corp., Cardinal Health Inc., Covidien plc, Cryolife Inc., Danaher, Depuy Synthes, Endologix, Inc., Essilor International SA, Fresenius Medical Care AG & Co. KGAA, GE Healthcare, Getinge Ab, Johnson and Johnson, Koninklijke Philips NV, Medtronic Inc., Novartis AG, Olympus Corp., Roche Diagnostics, Siemens Healthcare, Smith & Nephew PLC, Smiths Medical, St. Jude Medical Inc., Stryker Corp. Terumo Corp., Thermo Fisher Scientific, and Zimmer Holdings Inc.

The healthcare sector is one of the most lucrative globally. Higher-quality general healthcare, an increase in life expectancy, and increased interest in business since the pandemic's start are projected to improve spending and industry growth in the years to come. As a result, the healthcare industry's revenue in 2023 is predicted to be US$ 73.90 billion.

For instance, contactless and virtual services are now commonplace. A focus on equitable care, an increase in new healthcare investments, and changes in the labor force have all occurred in recent years. Thus, these factors will bring new opportunities and difficulties. New digital tools will influence how care is delivered, how money is paid for it, and how health data are kept in the future as the healthcare landscape changes. Innovation, consolidation, and optimization will all continue to be fueled by capital entering the market.

In recent years, the global health business has experienced exponential growth, with the US setting the pace. The rise of the aging population, also known as the older population increase in sociology, was blamed for industry expansion. Most patients or those who receive services from the global health industry today are women.

By 2031, the global healthcare market will be worth $675.37 billion. Additionally, according to the Centers for Medicare and Medicaid Services, national healthcare spending in the US reached US$ 4.3 trillion in 2021, or US$ 12,914 per person, and is projected to rise to US$ 6.2 trillion by 2028.

The Commonwealth Fund estimates that the US spent close to 16.8% of its GDP on healthcare in 2019. Switzerland spent 11.3% more than Germany, which came in second place with a spending of 11.7%.

Segmentation Overview

By Product:
Diagnostic Devices
Electrodiagnostic Devices
Ultrasound Systems
Magnetic Resonance Imaging (MRI)
Electrocardiographs
Scintigraphy Apparatus
Other Electrodiagnostic Devices
Radiation Devices
CT Scanners
Other Medical X-ray Apparatus
Imaging Parts & Accessories
Contrast Media
X-ray Tubes
Medical X-ray Film
Other Imaging Parts & Accessories

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Consumables
Syringes, Needles & Catheters
Syringes (with/without needles)
Tubular Metal Needles/Needles for Sutures
Others
Bandages & Dressings
Adhesive Medical Dressings
Non-adhesive Medical Dressing
Suturing Materials
Other Consumables
Surgical Gloves
Ostomy Products
Blood-Grouping Reagents
First-aid Boxes & Kits
Patient Aids
Portable Aids
Hearing Aids
Pacemakers
Therapeutic Applications
Therapeutic Respiration Devices
Mechano-Therapy Devices
Others (Endoscope, Defibrillators, CRT Devices, etc.)
Orthopedics and Prosthetics
Fixation Devices
Artificial Joints
Other Artificial Body Parts
Dental Products
Dental Instruments and Supplies
Dental Instruments
Dental Cement
Teeth and Other Fittings
Dental Care Equipment
Dental Drills
Dental Chairs
Dental X-Rays
Patient Monitoring Devices
Other Medical Device Categories
Ophthalmic Instruments
Hospital Furniture
Wheelchairs
Medical & Surgical Sterilizers
Ultra-violet or Infra-Red Ray Apparatus
Other Instruments & Appliances

By Application:
Oncology
Cardiology
Orthopedics
Ophthalmic
Respiratory
Urology & Gynecology
General & Plastic Surgery
Dental
Diabetic Care
Wound Management
Nephrology
General Hospital and Healthcare
Ear, Nose, and Throat
Others

By End-User:
Hospitals & Surgical Centers
Clinics
Household
Other End Users

By Geography:
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America

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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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