Medical Device Market Is Anticipated To Grow At A Cagr Of 3.6% During 2019-2025

By Author: Lucintel LLC
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The global medical device market is projected to reach $426.2 billion by 2025, at a CAGR of 3.6% during 2019-2025. The growth of medical device market is driven by increasing healthcare expenditure, technological development, growing aging population, and chronic diseases.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the medical device market by application (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), by function (diagnostic and monitoring, therapeutic, surgical and other devices), by end use (homecare medical device and hospital and ambulatory care medical device), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the medical device market?
Q.4 What are some changing demands of customers in the medical device market?
Q.5 What are the new developments in the medical ...
... device market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this medical device area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this medical device market?
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of AI-Optimized medical device, increasing acceptance of wearable medical devices, growing use of miniaturized medical devices, and growing adoption 3D-Printing in medical devices.
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Market Segmentation:
Based on application, the medical device market is segmented into surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices. The cardiovascular devices segment accounted for the largest share of the market in 2020 due to increasing geriatric population, inactive lifestyle, and poor eating habits.
North America is expected to be the largest region during the forecast period due to a large target patient pool coupled with a high adoption rates for advanced treatments in this region. Asia Pacific is expected to witness the highest growth over the forecast period due to growing health awareness, increasing per capita income, and improving healthcare infrastructure.
Key Players in the medical devices market are Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health and others.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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