Medical devices consists of broad spectrum of health instruments used for therapeutic or diagnosis of a medical condition. There are 3 classes of medical devices: Class I devices, Class II devices and Class III devices. Class I devices are devices with lowest risk to the patient for example bandages, handheld surgical instruments, and nonelectric wheelchairs. Class II devices are devices with intermediate-risk for example computed tomography (CT) scanners or infusion pumps. Class III devices are highest risk devices like pacemakers and deep-brain stimulators.
The medical device technologies market is expected to witness growth during the forecast period due to increasing incidences of chronic diseases like cardiovascular, hypertension, diabetes, cancer, and respiratory disorders and others and major market players involved in the medical device technologies market. Also the rapid adoption of technologically advanced devices and preference for minimally invasive surgeries and developing treatment approaches are expected to boost the market growth. Also the development of robotically-assisted surgeries and advanced implants are expected to play a pivotal role in the development of medical device technologies market. However, stringent regulations for medical device technologies market surgery may hamper the market growth.
The "Global Medical Device Technologies Market Analysis to 2028" is a specialized and in-depth study of the medical device industry with a focus on the global market trend. The report aims to provide an overview of global medical device technologies market with detailed market segmentation by device type and end user. The global medical device technologies market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
The global medical device technologies market is segmented on the basis of device type and end user. The device type segment includes, in vitro diagnostic (IVD) devices, cardiology devices, diagnostic imaging devices, orthopedic devices, ophthalmology devices, endoscopy devices, diabetes care devices, wound management devices, kidney/dialysis devices, anesthesia and respiratory care devices and others. By end user, the market is segmented into hospitals & clinics, ambulatory care centers, home care and others.
The medical device technologies market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global medical device technologies market based on device type and end user. It also provides market size and forecast till 2028 for overall medical device technologies market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.
By region, North America held the largest share in 2020 in the medical device technologies market. The large share of the segment is due to factors like the presence of a large number of major market players, the increasing prevalence of chronic conditions, favorable healthcare policies, and increasing preference of the patients for minimally invasive surgeries. These factors contribute to the segment's dominance throughout the forecast period. Asia-Pacific expecting high growth for the medical device technologies market due to increasing number of healthcare facilities, large patient population and growing healthcare expenditures,. The high potential for cost-savings on medical procedures in Asian countries such as Singapore, India and Thailand will also boost the market growth in this region.
The medical device technologies market report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions.
The medical device technologies market report also includes the profiles of key medical device technologies market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market are JOHNSON & JOHNSON SERVICES, INC., General Electric Company, Smith & Nephew, Stryker, Medtronic, Siemens Healthcare Private Limited, KONINKLIJKE PHILIPS N.V., F. HOFFMANN-LA ROCHE LTD, Abbott, and Boston Scientific Corporation among others.
The List of Companies
1. JOHNSON & JOHNSON SERVICES, INC.
2. GENERAL ELECTRIC
3. SMITH & NEPHEW
6. SIEMENS HEALTHCARE PRIVATE LIMITED
7. KONINKLIJKE PHILIPS N.V.
8. F. HOFFMANN-LA ROCHE LTD
10. BOSTON SCIENTIFIC CORPORATION
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