• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    MPO's 2023 Medtech Supply Chain Survey

    Exceeding Medical Device Extrusion Expectations

    Medical Device Micromolders Discuss the 'Minor Details'

    Superior Subtractive Solutions for Machining Medtech

    Assembly & Automation Experts Share Thoughts on Medtech Trends
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    Dentsply Sirona Names Former NuVasive CEO Lucier as Chairman

    SeaStar Medical Gets Breakthrough Nod for Selective Cytopheretic Device

    ResMed, Nyxoah Team Up to Grow Sleep Apnea Awareness & Therapy in Germany

    Siemens Healthineers’ Magnetom Viato.Mobile Cleared by FDA

    Cardinal Health's Kangaroo OMNI Enteral Feeding Pump Enters U.S. Market
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    MPO's 2023 Medtech Supply Chain Survey

    Exceeding Medical Device Extrusion Expectations

    Medical Device Micromolders Discuss the 'Minor Details'

    Superior Subtractive Solutions for Machining Medtech

    Assembly & Automation Experts Share Thoughts on Medtech Trends
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Back to School for Medical Device Cybersecurity Training

    Driving Clinical Trial Excellence to Help Study Teams Run a Faster Relay Race

    Medtech’s Supply Chain: From Disruption to Opportunity

    Are Medtech’s Mega-Deals Gone For Good?

    Will a Skilling Gap Hinder Organizational Readiness for Medtech’s New Age of AI?
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    The Arthur G Russell Company

    LEMO USA Inc.

    Johari Digital Healthcare Ltd.

    Cirtec Medical

    Medbio LLC
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    How Wearables Are Changing the Way We Collect Real-World Data in Clinical Trials

    Could Medtech Ever Stop a Hospital Killer in Their Tracks?

    A One-Stop-Shop, Turnkey Solution Is Paramount for Success

    How Additive and Subtractive Manufacturing Are Revolutionizing the Medical Device Industry

    Medical Device Commercialization: It’s What, Not When, to Transfer to Manufacturing
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    The Arthur G Russell Company

    LEMO USA Inc.

    Johari Digital Healthcare Ltd.

    Cirtec Medical

    Medbio LLC
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Breaking News

    Medical Devices Market to Top $671.49 Billion by 2027

    Wearables and rising cases of chronic diseases will help fuel growth, industry data predicts.

    Medical Devices Market to Top $671.49 Billion by 2027
    Graphic courtesy of Precedence Research.
    Precedence Research09.16.21
    The global medical devices market was worth $448 billion in 2020 and is forecasted to reach $671.49 billion by 2027, growing at a compound annual growth rate of 5.2 percent, Precedence Research predicts.
     
    Medical devices refer to an apparatus, instrument, appliance, or machine for prevention, diagnosis, treatment, monitoring, or alleviation of disease. These devices offer numerous advantages to patients by helping medical service provider in diagnosis and treatment of patients; in addition, assisting patients to improve their quality of life.
     
    Growth Factors
    • The increasing prevalence of chronic diseases that include cancer and
    • Unhealthy lifestyle and eating habits also attracts other types of critical diseases
    • Rising trend for medical wearable devices
    • Integration of Artificial Intelligence (AI) in the medical devices such as remote patient monitoring devices, wearable medical equipment, electronic health records (EHR), and many more
    • Threat for data breaches and hack of critical information through these devices
    • Rising trend for in-house health monitoring such as heart beat, blood sugar level, and many other tests
     
    Regional Snapshots
    North America emerged as a global leader in 2020 and expected to retain its position over the upcoming years. The prominent growth of the region is mainly due to well-developed infrastructure for healthcare services along with high level of awareness among consumers related to health and fitness. On an average, the consumers in the North America spend significant share of their income on health and fitness. Apart from this, the regional government also supports and easily approves new and advanced medical devices in the region for its easy commercialization and reach to the common public. Collectively all the above mentioned factors estimated to drive the overall market growth for medical devices in the region.

    On the contrary, the Asia Pacific projected to grow at a rapid rate over the analysis period owing to increasing per capita income, increased spending on healthcare infrastructure, and rapid increment in the ageing population in the region. In medical devices market China holds the second largest position after the United States. Similarly, India holds the fifth leading position in the global market. This is mainly attributed to the rapid technological developments in various sectors in the countries along with their diverse nature for sales channel and distribution models.

    Key Players and Strategies
    The medical devices industry seeks to be largely fragmented in nature because of the presence of large number of market players at both regional and global level. These market players largely focus on product development and enhancement, merger and acquisition, partnership, collaboration, and joint venture with other technology providers to upgrade their existing product line or develop an advanced medical device to cater the increasing need of the consumers. Furthermore, these industry participants also focus in contracting with large number of distributors present globally to expand their customer range along with their offerings.

    Some of the key players operating in the market are DePuy Synthes, Medtronic plc, Fesenius Medical Care, GE Healthcare, Philips Healthcare, Ethicon LLC, Siemens Healthineers, Stryker Corp., Cardinal Health, Baxter International Inc., Boston Scientific Corp., Zimmer Biomet, and BD, among others.
    Suggested For You
    JK Medirise-Disposable Medical Device Company JK Medirise-Disposable Medical Device Company
    Keystone Solutions Group Keystone Solutions Group
    Simplexity Product Development Inc. Simplexity Product Development Inc.
    Johari Digital Healthcare Ltd. Johari Digital Healthcare Ltd.
    MEDICAL & BIOTECH MANUFACTURING MEDICAL & BIOTECH MANUFACTURING
    Beaumont Beaumont
    Northeast Biomedical Inc. Northeast Biomedical Inc.
    Nissha Medical Technologies Nissha Medical Technologies
    Brosseau Consulting LLC Brosseau Consulting LLC
    3DT LLC 3DT LLC
    DDL Inc. DDL Inc.
    sfm medical devices GmbH sfm medical devices GmbH
    MBK Tape Solutions MBK Tape Solutions
    Simbex Simbex
    Hobson & Motzer Inc. Hobson & Motzer Inc.

    Related Buyers Guide Companies

    • JK Medirise-Disposable Medical Device Company

      ...
      Ketan Munjani, Marketing Manager 09.28.23

    • Keystone Solutions Group

      Keystone Solutions Group

      ...
      Jim Medsker, President 09.28.23

    • Simplexity Product Development Inc.

      ...
      Dorota Shortell, CEO 09.01.23


    • Johari Digital Healthcare Ltd.

      Johari Digital Healthcare Ltd.

      ...
      Kamal Kumawat, Marketing Manager 06.20.23

    • MEDICAL & BIOTECH MANUFACTURING

      ISO 13485:2016 • FDA Registered

    Loading, Please Wait..

    Trending
    • ZOLL Expands Temperature Management Portfolio To Include IQool System
    • Diabetes Innovation: MIT Engineers Unveil Implantable Device With Oxygen Factory
    • Siemens Healthineers Presents Mammomat B.brilliant
    • Danaher Names New Environmental And Applied Solutions Company Veralto
    • A New Approach To Post-Market Surveillance
    Breaking News
    • Dentsply Sirona Names Former NuVasive CEO Lucier as Chairman
    • SeaStar Medical Gets Breakthrough Nod for Selective Cytopheretic Device
    • ResMed, Nyxoah Team Up to Grow Sleep Apnea Awareness & Therapy in Germany
    • Siemens Healthineers’ Magnetom Viato.Mobile Cleared by FDA
    • Cardinal Health's Kangaroo OMNI Enteral Feeding Pump Enters U.S. Market
    View Breaking News >
    CURRENT ISSUE

    October 2023

    • MPO's 2023 Medtech Supply Chain Survey
    • Exceeding Medical Device Extrusion Expectations
    • Medical Device Micromolders Discuss the 'Minor Details'
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    D2C Supplement Brand Launches Blood Sugar Support Supplement, Gluco-Control
    Natrol Launches First Non-Melatonin Sleep Supplement
    Metagenics Releases Consumer Survey on Menopausal Support Supplement
    Coatings World

    Latest Breaking News From Coatings World

    California Sports Surfaces Celebrates 70 Years
    ROSS Offers Cost-Effective, Expertly Reconditioned Equipment
    AkzoNobel Shares Sustainable Architectural Solutions at Conference
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Dentsply Sirona Names Former NuVasive CEO Lucier as Chairman
    SeaStar Medical Gets Breakthrough Nod for Selective Cytopheretic Device
    ResMed, Nyxoah Team Up to Grow Sleep Apnea Awareness & Therapy in Germany
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Univercells Expands into the U.S. With New Offices in Andover, MA
    Evecxia Therapeutics, Quotient Sciences Complete Clinical Milestone for Depression Treatment
    Ionis, Roche Partner on RNA-targeted Programs for AD and HD
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    YSL Beauty Taps Finn Wolfhard, Lil Yachty & More for Fragrance Campaign
    74% of Makeup Users Open to Affordable ‘Dupes,’ Mintel Says
    Stoelzle Glass Group Names New CEO
    Happi

    Latest Breaking News From Happi

    Christian Siriano Appointed Olay’s First Chief Drop Officer
    The Estée Lauder Companies Launches 2023 Breast Cancer Campaign
    BASF Personal Care Introduces New Cosmetic Ingredient
    Ink World

    Latest Breaking News From Ink World

    Siegwerk’s Climate Targets Validated by SBTi
    ROSS Offering Cost-Effective, Expertly Reconditioned Equipment
    Amcor plc Adds Lucrèce Foufopoulos-De Ridder to Board of Directors
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    SABIC and partners launch bio-based IML solution for food packaging
    tesa completes expansion of Michigan manufacturing facility
    Comexi and Asahi to host 'Effortless Platemaking' event
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Greentech Introduces Air Filter with Advanced Odor Elimination
    Ontex Divests Pakistan Operations to ASAIA Holding
    Goodnites Bedwetting Underwear Recognized by Good Housekeeping
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Lazurite Adds Benchmark Medical as a Distributor for its ArthroFree Wireless Camera System
    ChitogenX Granted New U.S., Canadian ORTHO-R Patent
    Centinel Spine prodisc System Surpasses 2,500-Implant Milestone
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Jabil Posts Fourth Quarter, Fiscal Year 2023 Results
    Ink-Borne ‘Chiplets’ Could Lead to Printable Displays, Electronics and More
    SCHOTT Strengthens Glass Substrate Portfolio

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login