Market Overview:
The global medical device technologies market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in this market can be attributed to the increasing incidence of chronic diseases, rising geriatric population, and technological advancements in medical devices. The software solutions segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growing demand for advanced software solutions for managing and tracking patient data across healthcare organizations. In terms of application, hospitals are expected to account for the largest share of the global medical device technologies market in 2018. This can be attributed to increasing investments by hospitals in new technology-based devices and rising demand for minimally invasive surgeries.
Product Definition:
Medical device technologies are those that are used in the diagnosis, treatment, and prevention of diseases. They can include everything from simple devices like tongue depressors to complex machines like CAT scanners. Medical device technologies play a vital role in modern healthcare, providing doctors with the tools they need to diagnose and treat patients.
Software Solutions:
Software solutions are the part of medical device technologies that provide support for various functions such as record keeping, product maintenance, and analysis. The global software solutions in medical device technologies market is expected to grow at a CAGR of XX% during the forecast period.
Increase in demand for healthcare IT services and rising adoption rate of cloud computing are some factors driving growth.
Imaging:
Imaging is the science of creating images from a medical device to diagnose, treat or monitor any disease. Imaging devices are used in all kind of medical applications such as X-ray, Computed Tomography (CT), ultrasound and Magnetic Resonance Imaging (MRI). The global imaging market is expected to witness significant growth over the forecast period owing to its increasing use in diagnosing diseases such as cancer and heart disorders.
Application Insights:
Based on application, the global medical device technologies market is segmented into hospitals, clinics and other. The hospitals segment dominated the overall market in terms of revenue in 2017. This high share is attributable to factors such as increasing hospital construction across the globe and a growing geriatric population that requires more healthcare services.
The clinics and other segments are anticipated to witness significant growth over the forecast period owing to an increase in demand for minimally invasive procedures that require advanced equipment such as imaging systems, surgical robots etc. Furthermore, technological advancements have led to an increased adoption of these devices which has further propelled their demand worldwide. For instance, introduction of handheld x-ray machines has enabled radiologists at clinics around the world to perform fluoroscopy without exposing patients or staffs with radiation hazard risks involved with large x-ray machines (Radiation Safety Officer 2009).
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period owing to factors such as favorable reimbursement policies, increasing geriatric population, and rising healthcare expenditure. In addition, high adoption of medical devices due to better quality of care and availability of advanced products are some other factors contributing toward growth in this region.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to improving healthcare infrastructure coupled with growing awareness among people for early diagnosis & treatment leading towards better outcomes at lower costs.
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global medical device technologies market is expected to grow at a CAGR of 6.5% during the forecast period. One of the major growth drivers for this market is the increasing demand for minimally invasive surgeries, which are less risky and cause less pain and trauma as compared to traditional open surgery procedures.
- Rising prevalence of chronic diseases: The global medical device technologies market is also driven by the rising prevalence of chronic diseases such as cancer, heart disease, and diabetes mellitus, which require continuous monitoring and treatment. This has led to an increase in the demand for advanced medical devices that can provide accurate diagnosis and treatment options.
- Technological advancements: Another key driver for this market is technological advancements in medical device technologies that have led to the development of innovative products with enhanced features such as portability, accuracy, precision, etc., catering to various needs across different segments of patients globally. For instance, portable ultrasound devices are becoming increasingly popular due their small size and easy maneuverability making them ideal for use in remote areas or during emergencies when quick diagnosis is required..
Scope Of The Report
Report Attributes
Report Details
Report Title
Medical Device Technologies Market Research Report
By Type
Software Solutions, Imaging, Biological Derived Devices, Diagnostic Equipment, Other
By Application
Hospitals, Clinics, Other
By Companies
Abbott Laboratories, BD, GE Healthcare, Biomerica, BioMerieux, Novartis, Johnson & Johnson, Olympus, Qiagen, Siemens, Thermo Fischer Scientific, Zenith Healthcare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
188
Number of Tables & Figures
132
Customization Available
Yes, the report can be customized as per your need.
Global Medical Device Technologies Market Report Segments:
The global Medical Device Technologies market is segmented on the basis of:
Types
Software Solutions, Imaging, Biological Derived Devices, Diagnostic Equipment, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abbott Laboratories
- BD
- GE Healthcare
- Biomerica
- BioMerieux
- Novartis
- Johnson & Johnson
- Olympus
- Qiagen
- Siemens
- Thermo Fischer Scientific
- Zenith Healthcare
Highlights of The Medical Device Technologies Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software Solutions
- Imaging
- Biological Derived Devices
- Diagnostic Equipment
- Other
- By Application:
- Hospitals
- Clinics
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Medical Device Technologies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Medical Device Technologies is a field of engineering and technology that deals with the design, development, manufacture, and use of medical devices. Medical device technologies encompass a wide range of disciplines including biomedical engineering, mechanical engineering, electrical engineering, software engineering and manufacturing.
Some of the major players in the medical device technologies market are Abbott Laboratories, BD, GE Healthcare, Biomerica, BioMerieux, Novartis, Johnson & Johnson, Olympus, Qiagen, Siemens, Thermo Fischer Scientific, Zenith Healthcare.
The medical device technologies market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Medical Device Technologies Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Medical Device Technologies Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Medical Device Technologies Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Medical Device Technologies Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Medical Device Technologies Market Size & Forecast, 2020-2028
4.5.1 Medical Device Technologies Market Size and Y-o-Y Growth
4.5.2 Medical Device Technologies Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Software Solutions
5.2.2 Imaging
5.2.3 Biological Derived Devices
5.2.4 Diagnostic Equipment
5.2.5 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Clinics
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Medical Device Technologies Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Medical Device Technologies Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Software Solutions
9.6.2 Imaging
9.6.3 Biological Derived Devices
9.6.4 Diagnostic Equipment
9.6.5 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Clinics
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Software Solutions
10.6.2 Imaging
10.6.3 Biological Derived Devices
10.6.4 Diagnostic Equipment
10.6.5 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Clinics
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Software Solutions
11.6.2 Imaging
11.6.3 Biological Derived Devices
11.6.4 Diagnostic Equipment
11.6.5 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Clinics
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Software Solutions
12.6.2 Imaging
12.6.3 Biological Derived Devices
12.6.4 Diagnostic Equipment
12.6.5 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Clinics
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Software Solutions
13.6.2 Imaging
13.6.3 Biological Derived Devices
13.6.4 Diagnostic Equipment
13.6.5 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Clinics
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Medical Device Technologies Market: Competitive Dashboard
14.2 Global Medical Device Technologies Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abbott Laboratories
14.3.2 BD
14.3.3 GE Healthcare
14.3.4 Biomerica
14.3.5 BioMerieux
14.3.6 Novartis
14.3.7 Johnson & Johnson
14.3.8 Olympus
14.3.9 Qiagen
14.3.10 Siemens
14.3.11 Thermo Fischer Scientific
14.3.12 Zenith Healthcare
