Medical Device Technologies Market Report 2024: Strategies And Recent Developments | Cardinal Health Inc., Johnson & Johnson, Siemens AG, F. Hoffmann-La Roche Ltd., Novartis AG, Thermo Fischer Scientific Inc., Abbott Laboratories Inc., Zenith Healthcare

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2145

The Business Research Company offers in-depth market insights through Medical Device Technologies Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The medical device technologies market size has grown strongly in recent years. It will grow from $5.37 billion in 2023 to $6.07 billion in 2024 at a compound annual growth rate (CAGR) of 13.04%. The growth in the historic period can be attributed to advancements in material science, increasing incidences of chronic diseases, aging population, rising awareness.The medical device technologies market size is expected to see strong growth in the next few years. It will grow to $9.18 billion in 2028 at a compound annual growth rate (CAGR) of 10.88%. The growth in the forecast period can be attributed to higher demand for diagnostic equipment, awareness for early diagnosis and treatment, rise in use of monitoring devices. Major trends in the forecast period include innovations in the fields of pharmacy, diagnostics, surgical products, and interventional procedures.

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Market Segmentation:
The medical device technologies market covered in this report is segmented -

1) By Type: Molecular Diagnostics, Diagnostic Imaging, Non-Invasive Monitoring, Drug Delivery, Mobility Aid Technologies, Micro Fluids And MEMS, Bio-Implants, Biomaterials, Minimal Or Non-Invasive Surgery, Telemedicine
2) By Application: Cardiology, Orthopedics, Oncology, Neurology, Respiratory, Other Applications
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Diagnostics Centers, Research Organizations, Other End Users

Major Driver - Rise In Chronic diseases Fueling Growth In The Medical Device Technologies market
The increasing number of chronic diseases is expected to propel the growth of the medical device technologies market going forward. Chronic diseases refer to long-term health conditions that persist over an extended period and often progress slowly. Medical device technologies are used in chronic diseases for providing timely and personalized interventions, improving patient outcomes, and enhancing the overall healthcare experience. For instance, in January 2023, according to the National Institutes of Health, a US-based government agency, among the population aged 50 or above, the number of people with at least one chronic disease is expected to increase by 99.5% from 71.522 million in 2020 to 142.66 million. Therefore, increasing chronic diseases drives the medical device technologies market.

Competitive Landscape:
Major companies operating in the medical device technologies market report are Cardinal Health Inc., Johnson & Johnson, Siemens AG, F. Hoffmann-La Roche Ltd., Novartis AG, Thermo Fischer Scientific Inc., Abbott Laboratories Inc., Zenith Healthcare, 3M Company, Medtronic plc, Becton Dickinson and Company, KONINKLIJKE PHILIPS N.V., Stryker Corporation, GE HealthCare Technologies Inc., Baxter International Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Agilent Technologies Inc., Olympus Corporation, Intutive Surgical Inc., Terumo Corporation, Edwards Lifesciences Corporation, Smith & Nephew plc, Hologic Inc., BioMerieux Inc., Align Technology Inc., ResMed Inc., Dexcom Inc.

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Top Trend - Introduction To Technological Advancements Such As Minimally Invasive Techniques In The Medical Devices Sector
Major companies operating in the medical device technologies market are developing medical devices with minimally invasive techniques to gain a competitive edge in the market. Minimally invasive techniques refer to medical procedures that are performed with minimal damage to the body compared to traditional open surgeries. For instance, in November 2023, Medtronic plc, a US-based medical device company, introduced the Symplicity Spyral RDN system, a minimally invasive treatment for hypertension. The Symplicity Spyral RDN system is used during the Symplicity blood pressure procedure, which is the first catheter-based approach using radiofrequency (RF) energy that complements medications and lifestyle modifications to help reduce blood pressure. The system has been approved by the FDA and is available for commercial use in more than 70 countries around the world.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Device Technologies Market Characteristics
3. Medical Device Technologies Market Trends And Strategies
4. Medical Device Technologies Market - Macro Economic Scenario
5. Medical Device Technologies Market Size And Growth
…..
27. Medical Device Technologies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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