Developing healthcare infrastructure, rising healthcare expenditures, increasing emphasis on better patient outcomes, and lucrative reimbursement policies are expected to drive the hospitals & ambulatory surgical centers segment during the forecast period. Action is needed if the UK is to continue to thrive in this area and patients are to realise the full benefit of medical technology. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects. * Companies are adopting strategies to improve their revenue shares in the medical devices market. North America was valued at USD 169.3 Bn in 2018 and is anticipated to hold a significant share in the global medical devices market during the forecast period. Medical Devices Market Regional Analysis: Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. Fortune Business Insights in a new study, titled “Global Market Size, Share and Global Trend by Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic Devices, Dental & Nephrology), End User (Hospitals & Ambulatory Surgical Centers and Clinics) and Geography Forecast till 2025” finds that in-vitro diagnostics is likely to dominate the market. IVD segment accounted for a market share of 12.9% in 2018. Such growth strategies adopted by leading companies will enable growth in the market. Orthopedic devices include joint reconstruction materials and biomaterialsused in the reduction of fracture fragments, bone manipulation and joint replacement. How much will the global medical devices market be worth in the future? I appreciate the timeliness and responsiveness of you and your team.”, © 2020 Fortune Business Insights . For instance, as per USFDA database, there were around 27 and 54 new medical devices cleared and approved by the FDA in 2017 and 2018 respectively. Among these companies, Medtronic has emerged as the leading player holding the highest share in the global market in 2018. The global medical devices market size was valued at USD 425.5 Billion in 2018 and is expected to reach USD 612.7 Billion by 2025, grow at a CAGR of 5.4% 2018 to 2025. "In Vitro Diagnostic Medical Devices (IVD) to Emerge as Most Attractive Device Type". North America Medical Devices Market, 2018, To get more information on the regional analysis of this market, Request a Free sample. With regard to ongoing trends, we offer individual reports on the following. In compariso… 6) The European medical device market has been growing on average by 4,3% per annum over the past 10 years. Revenue per Employee Comment: With revenue increase of 5.49% in 3 Q 2020 year on year, revenue per employee for Medical Equipment & Supplies Industry grew on trailing twelve months basis to 1,189,028 $, above Medical Equipment & Supplies Industry average. in the medical device industry. Time taken to attain regulatory approvals may limit the growth of the market to an extent. Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders. Based on the analysis done by Fortune Business Insights, the medical devices market is expected to witness a diverse opportunities owing to the demand of technologically advanced medical devices for treatment of chronic diseases. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. Patients must receive the most appropriate medical technology for them in the long term; as a patient’s safety is the industry… Stringent FDA Regulations on the Approval of Medical Devices May Hamper the Growth. The presence of several players at global as well as region levels has rendered the global medical devices market highly fragmented. The industry has enjoyed growth of around 5% in recent years. • There are 300 medical device companies employing more than 25,000. From 2012-2017, the wholesaling industry for medical supplies grew at an annualized rate of 1.7%. Dear reader, since you choose to block our ads, please click here to help support Medgadget. The company has a diversified product portfolio, established brand presence, and strong R&D focus, which has enabled it to establish a stronghold in the medical devices Industry. Increasing income levels, an ageing population, and rising health awareness in developing nations are major factors considered to support the growth of the global market in the near future. The medical devices market is projected to grow at a CAGR of 5.4% during the forecast period. The efficient and precise testing of diseases such as diabetes, malaria, HIV/AIDS, sexually transmitted diseases (STDs) and cancer, are some of the factors driving the segment. This acquisition is estimated to strengthen Boston Scientific Corporation’s position in the medical devices market. ", Based on the detailed study conducted by Fortune Business Insights, the medical devices market was valued at USD 425.50 Billion in 2018. Here we go! Users Also Search For- polymed medical devices, particulate testing medical devices, best medical alert devices, cgmp medical devices, biocompatibility for medical devices, cdsco medical devices, regulatory strategy medical devices, medical alert devices. Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. It looks quite comprehensive and the data is exactly what I was looking for. With that in mind, we thought we’d dig into some research from MarketsandMarkets to see what’s driving medical device manufacturers in 2018.. Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/medical-devices-market-100085. (IBIS World) #2. This guidance provides further detail on how the UK system would o… The medical device industry is a heterogeneous, innovative, and dynamic sector. European medical device market growth rates, based upon manufacturer prices, 2008-2017 (ref. What was the size of the global medical devices market in 2018? The market is segmented in terms of type, end user, and geography. Looking forward to work together in the future”, “It has been a delightful experience working with you guys. Recent technological advances in healthcare have yielded medical devices of high caliber, precision, and efficiency. To know how our report can help streamline your business, Speak to Analyst. Have Any Query? In 2018, the market accounted for a value of US$ 425.5 Bn and is likely to reach US$ 612.7 Bn by 2025. Medical devices offer several advantages to patients by helping health care providers treat and diagnose patients and assisting patients in improving their quality of life. The regions are further categorized into countries. | The Medical Revolution Will Be Blogged. HealthTech plays a key role in supporting delivery of healthcare and is a significant contributor to the UK’s economic growth. Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players. Remarkable job and great efforts by your research team. (EU Exit) Regulations 2019 . The global market for medical devices is huge, and it will continue showing a significant growth in the future. Major players such as Medtronic adheres to the business expansion policies in emerging countries such as China, India, and others. Fortune Business Insights predicts this to be a key factor creating growth opportunities in the segment during the forecast period. January 13th, 2020 Fortune Business Insights Releases. At what compound annual growth rate (CAGR) will the global medical devices market grow in the forecast period (2019-2026)? "The concept of automation have set the market alive. • There were 48 new medical device manufacturers registered in 2012 with the Irish Medicines Board. The rising interest of medical technology companies for the investment in the R&D of new generation medical devices, and green signal by regulatory authorities for their approval are likely to boost the medical device industry in the forecast period of 2018-2025. Insights predicts hospitals and surgical centers to remain dominant in the near.... Manufacturer of titanium Spine underbody implant the total revenues generated by the overall medical supply industry statistics # 1 and! 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