Medical Devices Market 2021 Analysis by Global Key Players | Medtronic Plc, Johnson & Johnson, Abbott Laboratories, Becton

The Global Medical Devices Market Research Report 2021-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

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Market Segmentation

Top leading Companies of Global Medical Devices Market are – Medtronic Plc; Johnson & Johnson; Abbott Laboratories; Becton, Dickinson and Company; Siemens Healthineers AG

By Type Of Medical Device: In-Vitro Diagnostics; Dental Equipment And Supplies; Ophthalmic Devices; Diagnostic Imaging Equipment; Cardiovascular Devices; Hospital Supplies; Surgical Equipment; Orthopedic Devices; Patient Monitoring Devices; Diabetes Care Devices; Nephrology And Urology Devices; ENT Devices; Anesthesia And Respiratory Devices; Neurology Devices; Wound Care Devices

The global medical devices market reached a value of nearly $456.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.4% since 2015. The market is expected to decline from $456.9 billion in 2019 to $442.5 billion in 2021 at a rate of -3.2%. The decline is mainly due to lockdowns imposed by the governments across the world that hindered the supply chain in the medical devices manufacturing industry. However, there is an unprecedented increase in the manufacturing of the ventilators that are used to treat COVID-19 patients. The market is then expected to recover and grow at a CAGR of 6.1% from 2021 and reach $603.5 billion in 2023.

Growth in the historic period resulted from a rise in the number of healthcare facilities, healthcare expenditure, technological advancements and rapid growth of the elderly population. Factors that negatively affected growth in the historic period were low healthcare awareness and low healthcare reimbursements. Going forward beyond 2021, a rapid increase in the prevalence of infectious diseases, and increasing prevalence of chronic diseases will support the market growth. Factors that could hinder the growth of the medical devices market in the future include supply chain disruptions due to the COVID-19 pandemic, increase in interest rates, data security and regulatory challenges.

The medical devices market is segmented by type of product into in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices and wound care devices. The in-vitro diagnostics market was the largest segment of the medical devices market segmented by type of product, accounting for 12.7% share of the total market in 2019. Going forward, the hospital supplies market segment is expected to be the fastest growing segment in the medical devices market, at a CAGR of 11.1% during 2019-023.

The medical devices market is segmented by type of expenditure into public and private. Public healthcare expenditure was the largest segment of the medical devices market segmented by type of expenditure, accounting for a 51.5% share of the total market in 2019. Going forward, the public healthcare expenditure segment is also expected to be the fastest growing segment in the medical devices market, at a CAGR of 7.7% during 2019-2023.

The medical devices market is segmented by end user into homecare, hospitals and clinics and diagnostic centers. Hospitals and clinics was the largest segment of the medical devices market segmented by end user, accounting for an 88.7% share of the total market in 2019. Going forward, the diagnostic centers segment is expected to be the fastest growing segment in the medical devices market, at a CAGR of 8.6% during 2019-2023.

Browse in-depth and report summary TOC on Medical Devices Market:

What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Medical Devices market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the global Medical Devices market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focused in the research study. It discusses about prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Medical Devices market.

Market Segments: This part of the report discusses about product type and application segments of the global Medical Devices market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach Medical Devices used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Finally, Medical Devices Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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