Report : Europe Medical Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (In Vitro Diagnostics (IVD), Surgical Device, General Medical Devices, Cardiovascular Devices, Orthopedic, Infection Control Devices, Ophthalmology, Endoscopy, Neurology, Others); Function (Diagnostic and Monitoring, Therapeutics, Surgical, Others); End User (Homecare Medical Devices, Hospital Medical Devices, Ambulatory Care Medical Devices, Others); and Country
Medical Devices Market for Neurology Segment to Grow at Fastest CAGR during Forecast Period
According to our new market research study on “Medical Devices Market to 2027 – Europe Analysis and Forecast – by Product Type, Function and End User,”the market is expected to reach US$ 232,531.7 million in 2027 from US$ 149,480.3 million in 2019; it is estimated to grow at a CAGR of 5.8% from 2020 to 2027. The report highlights trends prevailing in the EuropeMedical Devices Market and the drivers and restraints pertaining to the market growth.
Based on product type, the Europemedical devices market is segmented into in vitro diagnostics (IVD), surgical device, general medical devices, cardiovascular devices, orthopedic, infection control devices, ophthalmology, endoscopy, neurology, and others. The neurologysegment is estimated to register the highest CAGR in the market during the forecast period. Increasing prevalence of neurological diseases, and rapid product approvals and launches are the factors boosting the market for the neurologysegment.
The Europe medical devices market growth is mainly attributed to factors such asgrowing research and development activity in medical device industry, and rising chronic disease prevalence. However,challenges in medical device industry like frequent product recalls from market, low reimbursement limit may hinderthe growth of the market.
Medtronic; Abbott; Boston Scientific Corporation; Braun Melsungen AG; 3M; General Electric Company; Stryker Corporation; Koninklijke Philips N.V.; Siemens AG; and Johnson and Johnson Services, Incare among the leading companies operating in the Medical Devices Market.
The report segments Europe medical devicemarket as follows:
By End User