• 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
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    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
    Study: RhinAer Treatment Improves Chronic Rhinitis Symptoms

    CE Mark Granted for IVF Decision Support Tool

    FDA Approves Full-Body MRI Compatibility With Inspire Therapy

    Edwards' PASCAL Precision Gains EU Nod

    Monkeypox Outbreak Driving New IVD Device Development
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Cooling and Melting the Pain Away

    What Are the Fundamentals of Go-To-Market Strategy in Medical Devices?

    Minding the Gap: How Harmonizing Quality Systems Pays Off

    Building Strong Partnerships Between Medtech and Surgeon-Learning Platforms

    Four Key Considerations for OEMs Transferring a Product Program
    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
    Fusion Biotec Inc.

    Xact Wire EDM Corp.

    JBC Technologies

    Arthur G. Russell Co. Inc., The

    BMP Medical
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    Buyer and Seller Tips on Mergers & Acquisitions for MPO Companies

    Medical Computing: COM Express Processes Real-Time Data at the Edge

    The Importance of Building Successful Supplier Relationships

    The Benefits of Outsourcing Innovation in Medtech Manufacturing

    Patching Healthcare Cybersecurity Risks in the Internet of Medical Things
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    Fusion Biotec Inc.

    Xact Wire EDM Corp.

    JBC Technologies

    Arthur G. Russell Co. Inc., The

    BMP Medical
    • 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.
    Related CONTENT
    • Auriga Inc.
    • BMP Medical - Delivering Custom Plastics Manufactured Solutions
    • Simbex
    • DDL Inc.
    • 3DT LLC
    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
    Auriga Inc. Auriga Inc.
    BMP Medical - Delivering Custom Plastics Manufactured Solutions BMP Medical - Delivering Custom Plastics Manufactured Solutions
    Simbex Simbex
    DDL Inc. DDL Inc.
    3DT LLC 3DT LLC
    Hobson & Motzer Inc. Hobson & Motzer Inc.
    High Tech Turning Co. Inc. High Tech Turning Co. Inc.
    MBK Tape Solutions MBK Tape Solutions
    Nissha Medical Technologies Nissha Medical Technologies
    Beaumont Beaumont
    Northeast Biomedical, Inc. Northeast Biomedical, Inc.
    sfm medical devices GmbH sfm medical devices GmbH
    Anjon Medical Technologies Anjon Medical Technologies
    Brosseau Consulting LLC Brosseau Consulting LLC
    Siemens Healthineers’ Somatom X.ceed Tomography Scanner Cleared by FDA Siemens Healthineers’ Somatom X.ceed Tomography Scanner Cleared by FDA

    Related Buyers Guide Companies

    • Auriga Inc.

      ...
      Aleksandr Rodionov, Marketing manager 06.09.22

    • BMP Medical - Delivering Custom Plastics Manufactured Solutions

      BMP Medical - Delivering Custom Plastics Manufactured Solutions

      Medical Contract Manufacturing, Design, Assembly & Packaging

    • Simbex

      ...
      Greg Lange, Chief Business Development Officer 11.15.21


    • DDL Inc.

      DDL Inc.

      DDL has been in medical device package, product and material testing industry for almost 20 years. We strive to offer the most effective business practices while employing a staff of technical experts.
      Chris Murphy, Marketing Manager 11.11.21

    • 3DT LLC

      ...
      Gaye Kiel, Marketing Manager 11.05.21

    Loading, Please Wait..

    Breaking News
    • Study: RhinAer Treatment Improves Chronic Rhinitis Symptoms
    • CE Mark Granted for IVF Decision Support Tool
    • FDA Approves Full-Body MRI Compatibility With Inspire Therapy
    • Edwards' PASCAL Precision Gains EU Nod
    • Monkeypox Outbreak Driving New IVD Device Development
    View Breaking News >
    CURRENT ISSUE

    July/August 2022

    • Parylene Coatings for Medical Device Technologies
    • Nearshoring Trends in Medtech Manufacturing
    • 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

    PLT to Supply Traceable, Standardized Organic Elderberry Extract
    Herbalist and Alchemist Celebrates 40th Anniversary, Announces Expansion
    BASF Venture Capital and Aqua-Spark invest in Sea6 Energy
    Coatings World

    Latest Breaking News From Coatings World

    PPG Appoints Brad Budde Vice President and Chief Digital Officer
    AkzoNobel Creates Bespoke Colors for Volotea’s 10th Anniversary Livery
    Axalta: Red Continues as Most Preferred Car Color of Consumers in Mexico
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Study: RhinAer Treatment Improves Chronic Rhinitis Symptoms
    CE Mark Granted for IVF Decision Support Tool
    FDA Approves Full-Body MRI Compatibility With Inspire Therapy
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Octapharma Adopts Automated Application System from Schreiner MediPharm
    Rentschler Biopharma Appoints Mark Caswell as VP, Site Head
    Cellipont Unveils Plans for Cell Therapy Facility in Houston
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    The Estée Lauder Companies Delivers Strong Results in Fiscal 2022
    Fastest-Growing Consumer Product Companies in the U.S.
    Winky Lux is Among the Top 20 Fastest-Growing Beauty Companies
    Happi

    Latest Breaking News From Happi

    Fenty Beauty Introduces Eaze Drop’lit All-Over Glow Enhancer Makeup
    EPA Calls for Nominations for 2023 Green Chemistry Challenge Awards
    Strands Hair Care Introduces The Hair Lab
    Ink World

    Latest Breaking News From Ink World

    Flint Group to Highlight AQUACode Inks, Xiekon IDERA at Corrugated Week 2022
    DuPont Selects 2022 Lavoisier and Pedersen Award Medalists
    Chemours Begins Commissioning Newest Sand Mine in Clay County, FL
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Techkon USA announces latest handheld spectrodensitometer
    Maxcess China now manufacturing solid dies in Huzhou
    Avery Dennison debuts new adhesive for wine and spirits
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    INDA Appoints Director of Membership and Industry Relations
    Nexwear Acquires Incontinence Products Brand Lily Bird
    Because Market Expands into Retail Stores
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    FDA Clears Accelus' Toro-L Interbody Fusion System
    FDA OKs VySpine's VyPlate Anterior Cervical Plates
    Moximed Raises $40M for Knee OA Shock Absorber Implant
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    ORNL Celebrates Launch of Frontier, the World’s Fastest Supercomputer
    DuPont Names 2022 Lavoisier and Pedersen Award Medalists
    Photonic Glasses Give Solar Panels Pleasing Colors

    Copyright © 2022 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