Medical Equipment: Core Growth Enabler in the Surge In Cardiovascular Disease Prevalence Drives Growth In The Medical Equipment Market Market, 2025

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What Will the Medical Equipment Industry Market Size Be by 2025?
There's been notable growth in the medical equipment market in past years. Forecasts predict that its size will rise from $730.2 billion in 2024 to a considerable $791.33 billion in 2025. This accounts for a compound annual growth rate (CAGR) of 8.4%. Factors such as escalated healthcare spending, robust economic growth in developing markets, an increase in healthcare establishments, and a higher number of surgical procedures have significantly contributed towards historical growth trends.

What's the Long-Term Growth Forecast for the Medical Equipment Market Size Through 2029?
Expectations for the medical equipment market project substantial growth in the coming years, potentially reaching $1112.28 billion by 2029 with a compound annual growth rate (CAGR) of 8.9%. Several factors contribute to this anticipated growth during the forecasted period, including a rapid increase in the elderly population, a rising incidence of chronic diseases, and substantial government support. The forthcoming period will also feature key trends such as the development of innovative technology solutions, emphasis on the expansion of manufacturing facilities for medical equipment, a focus on creating partnerships and collaborations, manufacturing of cardiovascular devices, and an investment in hybrid imaging technologies.

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What Are the Key Growth Drivers Fueling the Medical Equipment Market Expansion?
The escalating occurrence of cardiovascular diseases is likely to propel the growth in the medical equipment market. The term cardiovascular disease (CVD) encompasses a range of conditions impacting the heart or blood vessels, typically associated with the build-up of fatty substances in the arteries (atherosclerosis) and an increased likelihood of blood clots. Various items of medical equipment are necessary for the prevention, diagnosis, and treatment of these diseases. The Centers for Disease Control and Prevention, an American governmental agency, revealed in May 2024 that heart disease was responsible for 702,880 deaths in 2022, equating to one in every five deaths. Every year in America, around 805,000 people suffer a heart attack - 605,000 are experiencing it for the first time, whereas 200,000 happen to people who have previously survived one. Consequently, the escalating prevalence of cardiovascular diseases is expected to stimulate expansion in the medical equipment market.

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What Long-Term Trends Will Define the Future of the Medical Equipment Market?
Prominent businesses in the medical equipment market are introducing innovative products like the EasyFuse Dynamic Compression System to boost their market earnings. The EasyFuse Dynamic Compression System is an all-inclusive high-elastic nitinol staple system constructed for quick and straightforward fixation in demanding foot and ankle applications. For example, in May 2022, Stryker Corporation, a medical technology firm based in the US, unveiled the EasyFuse Dynamic Compression System. The system is purposefully designed to streamline surgical procedures, introduce dependable dynamic-compression implants, and reduce surgical waste. The EasyFuse system involves an unusually wide staple bridge, aiming to balance forces and guarantee consistent implant potency.

How Is the Medical Equipment Market Segmented?
The medical equipment market covered in this report is segmented -

1) By Type: In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Hospital Supplies, Surgical Equipment, Orthopedic Devices, Patient Monitoring Devices, Others
2) By Type Of Expenditure: Public, Private
3) By Product: Instruments And Equipment, Disposables And Consumables
4) By End User: Hospitals And Clinics, Homecare And Diagnostic Centers, Other End Users

Subsegments:
1) By In-Vitro Diagnostics: Clinical Chemistry, Immunoassay, Molecular Diagnostics, Hematology, Microbiology
2) By Dental Equipment And Supplies: Dental Instruments, Dental Implants, Dental Chairs And Equipment, Orthodontic Supplies, Dental Consumables
3) By Ophthalmic Devices: Contact Lenses, Intraocular Lenses, Ophthalmic Lasers, Diagnostic Devices, Surgical Devices
4) By Diagnostic Imaging Equipment: X-Ray Systems, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Systems
5) By Cardiovascular Devices: Cardiac Rhythm Management Devices, Catheters, Heart Valves, Stents, Cardiac Assist Devices
6) By Hospital Supplies: Disposables, Sterilization Equipment, Surgical Masks And Gowns, IV Solutions And Administration Sets, Diagnostic Strips
7) By Surgical Equipment: Surgical Instruments, Electrosurgical Devices, Robotic Surgery Systems, Surgical Sutures And Staplers, Minimally Invasive Surgery Devices
8) By Orthopedic Devices: Joint Replacement Devices, Trauma Fixation Devices, Spinal Implants, Orthopedic Braces And Supports, Arthroscopy Devices
9) By Patient Monitoring Devices: Vital Signs Monitors, Remote Patient Monitoring Devices, Fetal And Neonatal Monitors, Cardiac Monitoring Devices, Multi-Parameter Monitors
10) By Others: Blood Glucose Meters, Insulin Delivery Devices, Continuous Glucose Monitoring Systems (CGMs), Lancets And Strips, Dialysis Equipment (Hemodialysis, Peritoneal Dialysis), Urinary Catheters, Stone Management Devices

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Which Companies Are Leading the Charge in Medical Equipment Market Innovation?
Major companies operating in the medical equipment market include Medtronic Inc, Abbott Laboratories, Johnson & Johnson, Siemens AG, Becton dic*kinson and Company(BD), STRYKER CORPORATION, Cardinal Health, Danaher Corporation, Boston Scientific Corporation, Koninklijke Philips N.V., SCHILLER Healthcare India Pvt. Ltd, GE Healthcare, Covidien Healthcare India Private Limited, Philips Healthcare India, Fisher & Paykel Healthcare India Private Limited, Smiths Medical India Pvt Ltd, Agappe Diagnostics Ltd, ARKRAY Healthcare Pvt. Ltd, Accord Medical Products Private Limited, Shinva Medical Instrument Company Limited, Shandong WeiGao Group Medical Polymer Company Limited, Lepu Medical Technology Company (Beijing) Co., Ltd, Yuwell - Jiangsu Yuyue Medical Equipment & Supply Co., Ltd, Shanghai Runda Medical Technology Co., Ltd, Terumo Corporation, Olympus Medical Systems Corporation, Canon Medical Systems Corporation, Hitachi Group, Nihon Koden Corporation, Sanko Manufacturing Co., Ltd, Fukuda Denshi, Metran Co. Ltd, Clarity Medical, Welcare Industries S.P.A, F.L. Medical S.r.l, Empire MEDICAL UK LTD, Europlaz Technologies Ltd, Alfa-Med LLC, Medplant LLC, Medical-Łomża Sp. z o.o., P.H.U. Medical, ProVeterináře, Panop CZ, Baxter, SunMed, Beckman Coulter, Draegerwerk AG, Getinge Group, Masimo, Teleflex Inc, Nipro Medical Ltda, LINET Brazil, Fotoptica Ltda, Leistung Engineering Pvt. Ltd, Saudi Mais Co. for Medical Products (SMMP), Life Pulse Medical Co, Watan, AlKawashef, 3BY Ltd, Qatari German Medical Devices Co, Israeli Hospitals Ltd, CAPS Medical, Amana Healthcare (Pty) Ltd, CapeRay, TiTaMED (Pty) Ltd, Sinapi Biomedical, Egyptian Medical And Environment Group, ResMed Inc.

Which Regions Are Leading the Global Medical Equipment Market in Revenue?
North America was the largest region in the global medical equipment market in 2024. Asia-Pacific was the second largest region in the global medical equipment market. The regions covered in the medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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