New York, NY, July 01, 2021 (GLOBE NEWSWIRE) – Facts and Factors has released a new research report titled ‘Medical devices market by device type (orthopedic devices, cardiovascular devices, diagnostic imaging, IVD, MIS, wound management, diabetes care, ophthalmology, dental, nephrology and urology, general surgery and others), by end user (healthcare Home, Hospitals & Clinics & Diagnostic Centers) and By Regions – Global and Regional Industry Outlook, Comprehensive Analysis and Forecast, 2021 – 2026 “.
“According to the recent research report, the demand for Size and share of the medical devices market is expected to reach $ 623 billion by 2026 from $ 471 billion in 2020, at a compound annual growth rate (CAGR) of 5% over the forecast period 2021 to 2026 “
Global Medical Devices Market: Overview
Medical devices are a form of equipment that helps physicians and professionals by adding additional utility in the form of vision or optics to perform complicated functions or provide a better quality of life. Since medical devices are used for life and death situations, they are often carefully vetted for approval. The main factors responsible for the growth of the medical devices market are the increase in investment cycles of public and government agencies across the world and the relaxation of restrictions on these devices.
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- 2020 updated Report Introduction, Industry Overview and In-Depth Analysis
- Impact analysis of the COVID-19 epidemic included
- Research report of over 225 pages (inclusion of updated research)
- Provide chapter-by-chapter guidance on request
- Updated regional analysis 2020 with graphical representation of size, share and trends
- Includes updated list of tables and figures
- The updated report includes major market players with their business strategy, sales volume, and revenue analysis
- Facts and Factors Research Methodology
(Note: The sample in this report is updated with the COVID-19 impact analysis before delivery)
Major players in the industry market
- Fresenius SE & CO.
- F. Hoffman-La Roche Ltée
- Siemens Healthineers SA
- Boston Scientific Society
- Johnson & Johnson Services Inc.
- Abbott Laboratories
- Dickinson and company
- General Electricity Company
- Fisher & Paykel Health Limited
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Key questions answered in this report:
- What is the projected market size and growth rate of the Medical Devices market?
- What are the key factors driving the growth of the Medical Devices market?
- What are the major companies operating in the Medical Devices market?
- What segments are covered by the medical devices market?
- How can I get a Free Sample Medical Device Market Report / Company Profile?
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On the basis of device types, the global medical devices market can be divided into Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmology, Dental, Nephrology & Urology, General Surgery and others (dental equipment and supplies, patient monitoring devices, anesthesia and breathing machines). IVD category is expected to gain the largest market share upon the advent of forecasting due to the increasing prevalence of chronic and infectious disorders.
On the basis of the end users, the global medical device market may be fragmented into home care, hospitals and clinics and diagnostic centers. Hospitals and clinics are expected to gain the largest market share when the forecast comes due to a greater physical presence of hospitals in the region broken down as multispecialty and community hospitals. Additionally, increased healthcare spending and reimbursement-based government programs will help drive market growth across a larger footprint.
Here are some notable developments in the global medical device market during the forecast:
- Koniklijke Philips recently acquired the US cardiac diagnostics and monitoring company BioTelemetry in order to aggressively expand into the remote care products business.
- Smith & Nephew recently worked with Movemedical to expand their portfolio to include automated solutions and improve the customer experience.
- Koniklijke Philips NV launched the Abdominal Aortic Aneurysm (AAA) model to help physicians take a more user-friendly approach to managing long-term solutions for AAA patients.
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Global Medical Devices Market: Growth Factors
The main driving forces of the global medical devices market are increasing investments in the sector coupled with favorable and relaxed medical regulations on the approval and testing of these devices. Other factors include increasing regional support for the establishment and demand for these devices and the slowing of the global economy to post-pandemic levels. Additionally, with the latest trend in wearable medical devices spreading to a larger consumer base, the market is expected to be in a bloated state during the forecast. Moreover, factors relating to the advanced model introduced by major market players, latest features, optimal pricing, and increasing marketing campaigns will propel the growth of the global medical devices market during the forecast period.
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North America To Show Largest Market Share During Forecast Period
North America is expected to experience the largest market share on the advent of forecast due to the global revenue collection. Recent trends indicate that the market will accumulate more than 30% of total global revenue. Factors credited with the market dominance are the presence of key players in the region, a strong healthcare infrastructure, the rapid adoption of advanced medical technologies, and favorable regulations surrounding the approval of these devices will boost the market. market growth over the forecast. . The region of Europe is expected to experience the fastest growing CAGR during the forecast.
Browse the full report “Medical Devices Market: By Device Type (Orthopedic Appliances, Cardiovascular Appliances, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmology, Dental, Nephrology & Urology, General Surgery & Others), By End User (home care, hospitals and clinics and diagnostic centers), and by region – Global and regional industry outlook, comprehensive analysis and forecast, 2021-2026 “ at https://www.fnfresearch.com/medical-device-market
The overall medical device can be segmented on the basis of:
Global Medical Devices Market: By Type of Device Segment Analysis
- Orthopedic devices
- Cardiovascular equipment
- Diagnostic imaging
- Wound management
- Diabetic treatments
- Nephrology & Urology
- General surgery
- Dental equipment and supplies
- Patient monitoring devices
- Anesthesia and breathing machines)
Global Medical Devices Market: End User Segment Analysis
- Home Care
- Hospitals and clinics
- Diagnostic centers
Highlights of this report:
- Statistically validated analysis of historical, current and projected industry trends with information and authenticated data on market sizes in terms of value and volume, where applicable
- Detailed list of top buyers and end users (consumers) analyzed by regions and applications
- Overview of the main marketing strategies and the main sales channels adopted in the market
- Market attractiveness analysis and analysis of key investment opportunities in the market in the future
- Direct and indirect factors that have had an impact on the industry as well as the projected justifications that are expected to affect the industry in the future
- Historical and projected market shares of companies / suppliers / OEMs / suppliers, competitive landscape and player positioning data
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