Medical Device Technologies Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2025

Published on : Jun-2020 | List of Tables : 30 | List of Figures : 62 | No. of Pages : 170 | Report Code : FACT4828MR | Format :

Medical Device Technologies Market Insights
 
The medical device technologies market is anticipated to expand moderately at a CAGR of 4.6% during the forecast period (2020-2025). It is expected to be valued at US$ 563 Bn by 2025. Over the years, preference for minimally invasive (MI) and non-invasive diagnostic tools has been on a significant rise. Today, MI procedures are gaining traction, particularly in the treatment of cancer, especially for treating solid tumors. These procedures cause minimal complications, reduce the risk of infections, cause less pain, and have faster recovery time. Such advantages have increased their adoption, and in turn boost growth prospects of the medical device technologies market.

However, the COVID-19 pandemic is anticipated to constrain the market growth, with patients opting to postpone elective surgical procedures. With hospitals and other healthcare settings redirecting their resources in treating COVID-19 infections, elective surgeries have been canceled, leading to a fall in demand of medical devices. Eventually, the medical device technologies market will expand in the aftermath of the pandemic, as elective procedures will be performed as per schedule.

Medical Device Technologies Market: Technological Insights

Technological innovations such as mHealth devices, continuous glucose monitoring systems, and insulin delivery systems will continue to influence the medical device technologies market growth. Additionally, advancements in the ophthalmology segment are majorly observed in platforms such as implantable miniature telescopes, smart adapters, and premium intraocular lenses (IOLs).

In recent times, minimally invasive diagnostic and surgical procedures are making use of robotic technology along with medical imaging modalities such as 3D/4D visualization to provide accuracy and rapid diagnosis. Advancements in 3D/4D imaging have led to the developments in computer-assisted detection (CAD) and image analysis applications. Moreover, various simple and complex biochemical and molecular operations have been shifted to chip-based microfluidic setups over the last few years. These factors are anticipated to have a positive influence on the growth of the medical device technologies market.

Medical Device Technologies Market Analysis by Device Type

Sales of diabetes care devices are anticipated to expand the fastest, registering a positive CAGR of 6.0% during the forecast period. On the other hand, demand for diagnostic imaging devices is anticipated to catch-up, registering a CAGR of 5.9% through 2025.

Growth in sales of diabetes care devices is attributable to the rising incidence of lifestyles diseases such as diabetes among a wide range of population worldwide. According to the W.H.O and the International Diabetes Federation (IDF) statistics, more than 400 million people were suffering from diabetes in 2014. Usage of diagnostic imaging techniques such as MRI, X-ray and CT scan provides painless diagnosis of chronic conditions. This factor is a key driver behind the expansion in sales of diagnostic imaging devices.

global medical device technologies market growth forecast by device type

For more valuable information on the medical device technologies market segments, ask an expert analyst

Medical Device Technologies Market: Regional Insights

North America is expected to remain at the forefront of the medical device technologies market. The region is anticipated to account for nearly two-fifth of the global market value. However, Asia-Pacific is poised to offer significant growth opportunities, expanding at a CAGR of 6.6% during the forecast period.

North America’s market growth remains driven by increasing prevalence of cardiovascular diseases and the implementation of the Cancer Moonshot initiative to address the rapidly increasing incidences of cancer. It is reported that over 1.5 million people experience heart attacks and strokes every year in the U.S, while direct medical costs for cancer treatment amounted to US$ 84.7 Bn in 2014.

Rise in number of diabetic patients and robust government investments in healthcare infrastructure are key growth drivers of Asia Pacific’s medical device technologies market. According to the IDF, in 2014, about 213 million people in the Asia-Pacific were diabetic, comprising 60% of the world’s total diabetic population.

global medical device technologies market share forecast by region

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Medical Device Technologies Market: Competition Insights

The medical devices technologies market is fragmented, with numerous manufacturers of medical devices competing to collaborate with hospitals, clinics and research institutes. The degree of competition is high due to low switching costs by hospitals and the availability of similar products from different companies.

Some prominent players in the medical device technologies market are: Medtronic plc, Johnson & Johnson, Siemens Healthineers, GE Healthcare, F. Hoffmann La Roche Ltd., Phillips Healthcare, Baxter International, Boston Scientific Corporation, Abbott Laboratories and Cardinal Health. Development of advanced medical technologies remains a key focus area of leading players to maintain a strategic position in the market.

For instance, structural heart therapy offered by Boston Scientific Corporation is one of the most rapidly growing segments of the medical device technologies market. The segment is highly synergistic with rhythm management and interventional cardiology business. Likewise, Baxter International is in the process of launching about 50 products in the next five years which include acute and renal care products with enhanced technological improvements.

COVID-19 Impact Analysis
 
The ongoing novel coronavirus pandemic has crippled the entire world, suspending all businesses and disrupting supply chains. Mandatory social distancing measures have compelled companies to cut down on their production cycles, leading to a disruption in the demand-supply equation. The healthcare industry is especially facing a significant challenge as there seem to be no signs of the abatement of the pandemic.

The medical device technologies market is anticipated to register a significant downturn in the midst of the pandemic. With hospitals and other healthcare settings reorienting their priorities, patients are delaying their elective surgical procedures, leading to a drop in the demand of technologically enhanced devices. At the same time, it can be argued that market prospects shall broaden owing to ongoing investigations for designing possible diagnostic tests for detecting the SARS-CoV-2 in existing as well as formerly infected patients. The market is anticipated to rebound in the aftermath of the pandemic, when medical operations normalize, restoring the existing future growth predictions.

Analysts’ Viewpoint:

“The medical device technologies market is set to embark on a modest growth trajectory, attributed to rising adoption of technologically-enhanced surgical procedures. The COVID-19 pandemic will temporarily hinder the growth prospects. However, the post-pandemic scenario promises to generate positive growth opportunities”.

Medical Device Technologies Market: Report Scope

The recent study on medical device technologies by Fact.MR incorporates a five-year forecast period from 2020 to 2025 and explicates on vital dynamics such as the key drivers, opportunities and restraints impacting the market growth. The report provides an in-depth study concerning the revenue, market share and year-on-year growth across the following segments: device-type and end-user.

In addition, a regional landscape incorporating the abovementioned segments has been embedded within the report. Regional analysis is done based on the following geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. In the final section, a competitive landscape providing information on the prominent market players, their revenue, market share, collaborations and product launches has been included.

Medical Device Technologies Market - Scope of the Report

The recent study by Fact.MR on the medical device technologies market offers a 5-year forecast for the period 2020-2025. The study analyzes crucial trends that are currently determining the growth of the medical device technologies market. This report explicates on key dynamics such as the drivers, restraints and opportunities for key market players and new entrants associated with the provision of medical device technologies. The study also provides unique dynamics responsible for influencing the future status of the medical device technologies market over the forecast period.

A detailed assessment of the medical device technologies market value chain, business execution, and supply chain across the regional markets has been covered in the report. A list of prominent companies operating in the medical device technologies market along with their product portfolio enhances the reliability of this comprehensive research study.

Medical Device Technologies Market: Report Summary

The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in the medical device technologies markets across the globe.

A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales in the medical device technologies market during the forecast period. Price point comparison by region with global average price is also considered in the study.

Medical Device Technologies Market: Segmentation

Fact.MR has studied the medical device technologies market with detailed segmentation on the basis of device type, end-user and region.

Device Type

End-user

Region

In-Vitro Diagnostic (IVD) Devices

Academics & Research

North America

Cardiology Devices

Hospitals

Europe

Diagnostic Imaging Devices

Clinics

Asia Pacific

Orthopedic Devices

Diagnostic Centers

Latin America

Ophthalmology Devices

Ambulatory Surgery Centers

Middle East & Africa (MEA)

Endoscopy Devices

Others

 

Diabetes Care Devices

 

 

Wound Management Devices

 

 

Kidney/Dialysis Devices

 

 

Anesthesia and Respiratory Care Devices

 

 

Others

 

 

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Medical Device Technologies Market: Market Size Evaluation

The medical device technologies market has been analyzed for each market segment, in terms of value (US$ Mn).

Market estimates at global and regional levels for medical device technologies are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent medical device technologies market segments along with market attractiveness evaluation has been incorporated in the report.

Medical Device Technologies Market: Inspected Assessment on Regional Segments

Key sections have been elaborated in the medical device technologies market report, which have helped deliver projection on the regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of the medical device technologies market during the forecast period.

Country-specific valuation on demand for medical device technologies has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Medical Device Technologies Market: In-Depth Analysis on Competitive Landscape

The report sheds light on the leading providers of medical device technologies along with their detailed profiles. Essential and up-to-date data information related to market performers, who are principally engaged in the provision of medical device technologies, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.

Company profiles detailed in the report include essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis of each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which help in thoughtfully presenting market status, and predicting the competition level in the medical device technologies market. Prominent manufacturers with established market presence in the medical device technologies market are Medtronic plc, Johnson & Johnson, Siemens Healthineers, GE Healthcare, F. Hoffmann La Roche Ltd., Phillips Healthcare, Baxter International, Boston Scientific Corporation, Abbott Laboratories and Cardinal Health.

1. Preface

    1.1. Report Scope and Market Segmentation

    1.2. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Medical Device Technologies Market

4. Market Overview

    4.1. Introduction

        4.1.1. Global Medical Device Technologies Market Value (US$ Bn) Forecast, 2020–2025

        4.1.2. Global Medical Device Technologies Market Outlook

        4.1.3. Key Industry Events

        4.1.4. Market Opportunity Map

    4.2. Market Dynamics

        4.2.1. Drivers and Restraints Snapshot Analysis

        4.2.2. Drivers

        4.2.3. Restraints

        4.2.4. Opportunities

5. Key Insights

    5.1. Disease Prevalence & Epidemiology

        5.1.1. Cancer Statistics

        5.1.2. CVD Statistics

    5.2. PEST Analysis

    5.3. Reimbursement Scenario

        5.3.1. U.S.

        5.3.2. Canada 

        5.3.3. UK

        5.3.4. Germany

        5.3.5. France 

        5.3.6. Italy

        5.3.7. China

        5.3.8. India 

        5.3.9. Japan 

        5.3.10. Australia  

        5.3.11. U.A.E.

        5.3.12. South Africa 

6. Global Medical Device Technologies Market Analysis and Forecasts, By Device Type

    6.1. Market Definition 

    6.2. Introduction

    6.3. Global Medical Device Technologies Market Value Share Analysis, by Device Type

        6.3.1. In Vitro Diagnostic (IVD) Devices

        6.3.2. Cardiology Devices

        6.3.3. Diagnostic Imaging Devices

        6.3.4. Orthopedic Devices

        6.3.5. Ophthalmology Devices

        6.3.6. Endoscopy Devices

        6.3.7. Diabetes Care Devices

        6.3.8. Wound Management Devices

        6.3.9.  Kidney/Dialysis Devices

        6.3.10. Anesthesia and Respiratory Care Devices

        6.3.11. Others

    6.4. Global Medical Device Technologies Market Value Forecast, by Device Type

    6.5. Global Medical Device Technologies Market Analysis, by Device Type

    6.6. Global Medical Device Technologies Market Attractiveness Analysis, By Device Type

    6.7. Global Medical Device Technologies Market Trends, by Treatment Type

7. Global Medical Device Technologies Market Analysis and Forecasts, By Treatment Type

    7.1. Market Definition

    7.2. Introduction

    7.3. Global Medical Device Technologies Market Value Share Analysis, by Treatment Type

        7.3.1. Academics & Research

        7.3.2. Hospitals

        7.3.3. Clinics

        7.3.4. Diagnostic Centers

        7.3.5. Ambulatory Surgery Centers

        7.3.6. Others

    7.4. Global Medical Device Technologies Market Value Share & Attractiveness Analysis, by Treatment Type

    7.5. Global Medical Device Technologies Market Value Forecast, by Treatment Type

    7.6. Global Medical Device Technologies Market Analysis, by Treatment Type

    7.7. Global Medical Device Technologies Market Trends, by Treatment Type

8. Global Medical Device Technologies Market Analysis and Forecasts, By Region

    8.1. Global Medical Device Technologies Market Scenario 

    8.2. Global Medical Device Technologies Market Value Share Analysis, by Region 

        8.2.1. North America 

        8.2.2. Europe 

        8.2.3. Asia Pacific

        8.2.4. Latin America

        8.2.5. Middle East & Africa 

    8.3. Global Medical Device Technologies Market Value Forecast, by Region

    8.4. Global Medical Device Technologies Market Attractiveness, by Region

9. North America Medical Device Technologies Market Analysis and Forecast

    9.1. North America Medical Device Technologies Market Overview 

    9.2. North America Medical Device Technologies Market Value Share Analysis, by Country

        9.2.1. U.S.

        9.2.2. Canada

    9.3. North America Medical Device Technologies Market Value Forecast, by Country 

    9.4. North America Medical Device Technologies Market Value Share Analysis, by Device Type

        9.4.1. In Vitro Diagnostic (IVD) Devices

        9.4.2. Cardiology Devices

        9.4.3. Diagnostic Imaging Devices

        9.4.4. Orthopedic Devices

        9.4.5. Ophthalmology Devices

        9.4.6. Endoscopy Devices

        9.4.7. Diabetes Care Devices

        9.4.8. Wound Management Devices

        9.4.9. Kidney/Dialysis Devices

        9.4.10. Anesthesia and Respiratory Care Devices

        9.4.11. Others

    9.5. North America Medical Device Technologies Market Value Forecast, by Device Type

    9.6. North America Medical Device Technologies Market Value Share Analysis, by Treatment Type

        9.6.1. Academics & Research

        9.6.2. Hospitals

        9.6.3. Clinics

        9.6.4. Diagnostic Centers

        9.6.5. Ambulatory Surgery Centers

        9.6.6. Others

    9.7. North America Medical Device Technologies Market Value Forecast, by Treatment Type

    9.8. North America Medical Device Technologies Market Attractiveness Analysis 

        9.8.1. By Device Type

        9.8.2. By Treatment Type

        9.8.3. By Country 

    9.9. North America Medical Device Technologies Market Trends

10. Europe Medical Device Technologies Market Analysis and Forecast

    10.1. Europe Medical Device Technologies Market Overview 

    10.2. North America Medical Device Technologies Market Value Share Analysis, by Country/ Sub-Region 

        10.2.1. Germany

        10.2.2. France 

        10.2.3. Italy 

        10.2.4. UK

        10.2.5. Spain 

        10.2.6. Russia

        10.2.7. Rest of Europe 

    10.3. Europe Medical Device Technologies Market Value Forecast, by Country/Sub-region 

    10.4. Europe Medical Device Technologies Market Value Share Analysis, by Device Type

        10.4.1. In Vitro Diagnostic (IVD) Devices

        10.4.2. Cardiology Devices

        10.4.3. Diagnostic Imaging Devices

        10.4.4. Orthopedic Devices

        10.4.5. Ophthalmology Devices

        10.4.6. Endoscopy Devices

        10.4.7. Diabetes Care Devices

        10.4.8. Wound Management Devices

        10.4.9. Kidney/Dialysis Devices

        10.4.10. Anesthesia and Respiratory Care Devices

        10.4.11. Others

    10.5. Europe Medical Device Technologies Market Value Forecast, by Device Type

    10.6. Europe Medical Device Technologies Market Value Share Analysis, by Treatment Type

        10.6.1. Academics & Research

        10.6.2. Hospitals

        10.6.3. Clinics

        10.6.4. Diagnostic Centers

        10.6.5. Ambulatory Surgery Centers

        10.6.6. Others

    10.7. Europe Medical Device Technologies Market Value Forecast, by Treatment Type

    10.8. Europe Medical Device Technologies Market Attractiveness Analysis 

        10.8.1. By Device Type

        10.8.2. By Treatment Type

        10.8.3. By Country 

    10.9. Europe Medical Device Technologies Market Trends

11. Asia Pacific Medical Device Technologies Market Analysis and Forecast

    11.1. Asia Pacific Medical Device Technologies Market Overview 

    11.2. Asia Pacific Medical Device Technologies Market Value Share Analysis, by Country/Sub-region 

        11.2.1. China

        11.2.2. Japan

        11.2.3. India

        11.2.4. Australia & New Zealand

        11.2.5. Rest of Asia Pacific

        11.2.6. Others

    11.3. Asia Pacific Medical Device Technologies Market Value Forecast, by Country/Sub-region 

    11.4. Asia Pacific Medical Device Technologies Market Value Share Analysis, by Device Type

        11.4.1. In Vitro Diagnostic (IVD) Devices

        11.4.2. Cardiology Devices

        11.4.3. Diagnostic Imaging Devices

        11.4.4. Orthopedic Devices

        11.4.5. Ophthalmology Devices

        11.4.6. Endoscopy Devices

        11.4.7. Diabetes Care Devices

        11.4.8. Wound Management Devices

        11.4.9. Kidney/Dialysis Devices

        11.4.10. Anesthesia and Respiratory Care Devices

        11.4.11. Others

    11.5. Asia Pacific Medical Device Technologies Market Value Forecast, By Device Type

    11.6. Asia Pacific Medical Device Technologies Market Value Share Analysis, by Treatment Type

        11.6.1. Academics & Research

        11.6.2. Hospitals

        11.6.3. Clinics

        11.6.4. Diagnostic Centers

        11.6.5. Ambulatory Surgery Centers

        11.6.6. Others

    11.7. Asia Pacific Medical Device Technologies Market Value Forecast, by Treatment Type

    11.8. Asia Pacific Medical Device Technologies Market Attractiveness Analysis 

        11.8.1. By Device Type

        11.8.2. By Treatment Type

        11.8.3. By Country

    11.9. Asia Pacific Medical Device Technologies Market Trends 

12. Latin America Medical Device Technologies Market Analysis and Forecast

    12.1. Latin America Medical Device Technologies Market Overview 

    12.2. Latin America Medical Device Technologies Market Value Share Analysis, by Country/Sub-region 

        12.2.1. Brazil 

        12.2.2. Mexico

        12.2.3. Rest of LATAM 

    12.3. Latin America Medical Device Technologies Market Value Forecast, by Country/Sub-region 

    12.4. Latin America Medical Device Technologies Market Value Share Analysis, by Device Type

        12.4.1. In Vitro Diagnostic (IVD) Devices

        12.4.2. Cardiology Devices

        12.4.3. Diagnostic Imaging Devices

        12.4.4. Orthopedic Devices

        12.4.5. Ophthalmology Devices

        12.4.6. Endoscopy Devices

        12.4.7. Diabetes Care Devices

        12.4.8. Wound Management Devices

        12.4.9. Kidney/Dialysis Devices

        12.4.10. Anesthesia and Respiratory Care Devices

        12.4.11. Others

    12.5. Latin America Medical Device Technologies Market Value Forecast, by Device Type

    12.6. Latin America Medical Device Technologies Market Value Share Analysis, by Treatment Type

        12.6.1. Academics & Research

        12.6.2. Hospitals

        12.6.3. Clinics

        12.6.4. Diagnostic Centers

        12.6.5. Ambulatory Surgery Centers

        12.6.6. Others

    12.7. Latin America Medical Device Technologies Market Value Forecast, by Treatment Type

    12.8. Latin America Medical Device Technologies Market Attractiveness Analysis 

        12.8.1. By Device Type

        12.8.2. By Treatment Type

        12.8.3. By Country 

    12.9. Latin America Medical Device Technologies Market Trends 

13. Middle East & Africa Medical Device Technologies Market Analysis and Forecast

    13.1. Middle East & Africa Medical Device Technologies Market Overview 

    13.2. Middle East & Africa Medical Device Technologies Market Value Share Analysis, by Country/Sub-region 

        13.2.1. GCC countries 

        13.2.2. South Africa 

        13.2.3. Israel

        13.2.4. Rest MEA 

    13.3. Middle East & Africa Medical Device Technologies Market Value Forecast, by Country/Sub-region 

    13.4. Middle East & Africa Medical Device Technologies Market Value Share Analysis, by Device Type

        13.4.1. In Vitro Diagnostic (IVD) Devices

        13.4.2. Cardiology Devices

        13.4.3. Diagnostic Imaging Devices

        13.4.4. Orthopedic Devices

        13.4.5. Ophthalmology Devices

        13.4.6. Endoscopy Devices

        13.4.7. Diabetes Care Devices

        13.4.8. Wound Management Devices

        13.4.9. Kidney/Dialysis Devices

        13.4.10. Anesthesia and Respiratory Care Devices

        13.4.11. Others

    13.5. Middle East & Africa Medical Device Technologies Market Value Forecast, by Device Type

    13.6. Middle East & Africa Medical Device Technologies Market Value Share Analysis, by Treatment Type

        13.6.1. Academics & Research

        13.6.2. Hospitals

        13.6.3. Clinics

        13.6.4. Diagnostic Centers

        13.6.5. Ambulatory Surgery Centers

        13.6.6. Others

    13.7. Middle East & Africa Medical Device Technologies Market Value Forecast, by Treatment Type

    13.8. Middle East & Africa Medical Device Technologies Market Attractiveness Analysis 

        13.8.1. By Device Type

        13.8.2. By Treatment Type

        13.8.3. By Country 

    13.9. Middle East & Africa Medical Device Technologies Market Trends 

14. Competition Landscape

    14.1. Market Player – Competition Matrix

    14.2. Company Profiles (Details – Overview, Financials, Recent Developments, Strategy)*

        14.2.1. Abbott Laboratories

            14.2.1.1. Company Overview

            14.2.1.2. Key Development & Strategic Business Overview 

            14.2.1.3. Company Financials

            14.2.1.4. SWOT Analysis

        14.2.2. Boston Scientific Corporation

            14.2.2.1. Company Overview

            14.2.2.2. Key Development & Strategic Business Overview 

            14.2.2.3. Company Financials

            14.2.2.4. SWOT Analysis

        14.2.3. Baxter International, Inc.

            14.2.3.1. Company Overview

            14.2.3.2. Key Development & Strategic Business Overview 

            14.2.3.3. Company Financials

            14.2.3.4. SWOT Analysis

        14.2.4. Medtronic plc

            14.2.4.1. Company Overview

            14.2.4.2. Key Development & Strategic Business Overview 

            14.2.4.3. Company Financials

            14.2.4.4. SWOT Analysis

        14.2.5. Cardinal Health Inc.

            14.2.5.1. Company Overview

            14.2.5.2. Key Development & Strategic Business Overview 

            14.2.5.3. SWOT Analysis

        14.2.6. F. Hoffmann-La Roche Ltd.

            14.2.6.1. Company Overview

            14.2.6.2. Key Development & Strategic Business Overview 

            14.2.6.3. SWOT Analysis

        14.2.7. GE Healthcare

            14.2.7.1. Company Overview

            14.2.7.2. Key Development & Strategic Business Overview 

            14.2.7.3. SWOT Analysis

        14.2.8. Johnson & Johnson

            14.2.8.1. Company Overview

            14.2.8.2. Key Development & Strategic Business Overview 

            14.2.8.3. SWOT Analysis

        14.2.9. Siemens Healthineers

            14.2.9.1. Company Overview

            14.2.9.2. Key Development & Strategic Business Overview 

            14.2.9.3. SWOT Analysis

        14.2.10. Smith & Nephew plc

            14.2.10.1. Company Overview

            14.2.10.2. Key Development & Strategic Business Overview 

            14.2.10.3. SWOT Analysis

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Medical Device Technologies Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2025