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Report
Global Markets for Emerging Medical Device Technologies
Market Research Report I 2025-03-27 I 170 Pages I BCC Research
Description
Report Scope
This report provides an in-depth analysis of the emerging medical device technology market, including market estimations and trends through 2029. Major players, competitive insights, imaginative innovations, advertising flow and geographic opportunities are examined in detail. The report looks at product innovations and item portfolios of major players. The report covers drivers, restraints, opportunities, emerging technologies and a regulatory scenario assessment. The report includes market projections for 2029 and market shares for key players.
The report's scope encompasses developing therapeutic devices, advances that create the most worldwide income. Dental devices with new innovations and a few imaging devices utilized in dentistry are covered under other devices.
Based on device type, the market is segmented into in vitro diagnostics (IVD), cardiovascular devices, neurology, orthopedics, diabetic care, endoscopy, urology and others. Based on the end-user type, the market is segmented into hospitals and clinics, home healthcare, ambulatory surgical centers and diagnostic laboratories.
The market is segmented by geographic region into North America, Europe, Asia-Pacific and the Rest of the World. Also included in the regional breakdown are detailed analyses of major countries such as the U.S., Germany, the U.K., Italy, France, Spain, Japan, China, India, Brazil, Mexico and Gulf Cooperation Council (GCC) countries. Each country's market is estimated with segmental analysis. For market estimates, data is provided for 2023 as the base year, with estimates for 2024 and a forecast value for 2029.
Report Includes
- 70 data tables and 56 additional tables
- Analyses of the global market trends for emerging medical device technologies, with market revenue data (sales figures) for 2021-2022, estimates for 2023, forecasts for 2024, and projected CAGRs through 2029
- Estimates of the market size and revenue prospects, along with a corresponding market share analysis by disease indication, application, end user and region
- Discussion of the market potential and opportunities in the medical device industry, along with an analysis of the competitive environment, regulatory scenario, and technological advances
- Facts and figures pertaining to R&D activity, technology issues, industry-specific challenges, and the impact of macroeconomic factors
- A look at the regulatory and pricing scenarios in the global market, with an emphasis on recent regulations in the U.S., Europe and Japan
- Insights derived from the Porter's Five Forces model, as well as global supply chain and PESTLE analyses
- Analysis of the industry structure, including companies' market shares and rankings, strategic alliances, M&A activity and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Evaluation of recent patent activity and key granted and published patents
- Company profiles of major players within the industry, including Medtronic, Abbott, Siemens Healthineers AG, Boston Scientific Corp., and Johnson & Johnson Services Inc.
Executive Summary
Summary:
The global market for emerging medical devices is estimated to increase from $136.6 billion in 2024 to reach $223.9 billion by 2029, at a compound annual growth rate (CAGR) of 10.4% from 2024 through 2029.
The global market for emerging medical devices was valued at $133.1 billion in 2023. The IVD devices segment recorded a value of $27.8 billion in 2023, and is projected to grow at a CAGR of 10.9% during the forecast period. The market share of 20.9% in 2023 and the median growth rate of this segment are attributed to factors such as an increase in homecare facilities, an increasing new infection rate, an aging population with a list of chronic diseases, and companies' involvement in developing new technology-oriented devices. Growth in cardiovascular devices is attributed to the development of diagnosis procedures used in clinics and the rise in demand for the detection of cardiovascular diseases
using new technology devices. In order to prevent cardiovascular disease issues, companies are developing new stents and pacemakers with the latest technology that can be accessible to any group of people.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Chapter 2 Market and Technology Background
Background
Innovation
Overview
Types
Current Trends
Development in Cybersecurity Considerations
Wearable Fitness Technology
Internet of Medical Things Technology
Healthcare and Robotics
3D Printing
Device Connectivity and Software as a Medical Device
PESTLE Analysis
Chapter 3 Market Dynamics
Market Drivers
Emerging Health and Wellness Trends
Increasing Use of AI/ML in Medical Devices
Technology and Services Support Chronic Disease Management
Need for Improving Public Health
Rise in Disease Diagnosis Demand
Increased Patient Education
Market Restraints
Challenges in R&D Funding
Cybersecurity Risks in Healthcare
Failure in Medical Device Designs
Supply Chain Risks and Vulnerabilities
Market Opportunities
Healthcare Delivery with Mobile Medical Imaging
Technological Developments in Medical Devices
Challenges
Chapter 4 Emerging Technologies and Developments
Major Medical Device and Technology Advances in 2024
Adaptive Hearing Aids
Bioprinting
Glucose Monitoring Devices and Digital Wearables
Brain-Machine Interfaces
Major Medical Device and Technology Advances in 2023
Medical Diagnosis Software
AI in Radiology
Surgical Robots
Trends in Medical Device Technology
Chapter 5 Market Segment Analysis
Segmentation Breakdown
Market Breakdown by Device Type
In Vitro Diagnostics
Market Size and Forecast
Cardiovascular Devices
Market Size and Forecast
Neurology
Market Size and Forecast
Orthopedics
Market Size and Forecast
Diabetic Care
Market Size and Forecast
Endoscopy
Market Size and Forecast
Urology
Market Size and Forecast
Other Devices
Market Breakdown by End User
Hospitals and Clinics
Market Size and Forecast
Home Healthcare
Market Size and Forecast
Diagnostic Centers
Market Size and Forecast
Market Analysis
Ambulatory Surgical Centers
Market Size and Forecast
Other End Users
Market Size and Forecast
Geographic Breakdown
Market Analysis by Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia and New Zealand
Rest of Asia-Pacific
Rest of the World
Market Size and Forecast
Brazil
GCC Countries
Other Rest of the World Countries
Chapter 6 Competitive Intelligence
Introduction
Global Analysis of Company Market Rank
Agreements, Collaborations and Partnerships
Startups in the Medical Device Industry
Chapter 7 Sustainability
ESG Practices in the Medical Device Industry
Environmental Performance
ESG Ranking
BCC Research Viewpoint
Chapter 8 Appendix
Research Methodology
References
Company Profiles
3M
ABBOTT
BD
BAXTER
BOSTON SCIENTIFIC CORP.
DANAHER CORP.
F. HOFFMANN-LA ROCHE LTD.
GE HEALTHCARE
JOHNSON & JOHNSON SERVICES INC.
KONINKLIJKE PHILIPS N.V.
MEDTRONIC
QUIDELORTHO CORP.
SIEMENS HEALTHINEERS AG
STRYKER
THERMO FISHER SCIENTIFIC INC.
List of Tables
Summary Table : Global Market for Emerging Medical Devices, by Device Type, Through 2029
Table 1 : Medical Device Codes
Table 2 : PESTLE Analysis on Medical Device Technology and Global Market
Table 3 : Latest Medical Devices: Surgical Robotics, 2023 and 2024
Table 4 : Latest Medical Devices: FDA Approved, 2021-2024
Table 5 : Global Market for Emerging Medical Devices, by Device Type, Through 2029
Table 6 : Global Market for Emerging Medical Devices in IVD, by Region, Through 2029
Table 7 : Global Market for Emerging Medical Devices in Cardiovascular Devices, by Region, Through 2029
Table 8 : Global Market for Emerging Medical Devices in Neurology, by Region, Through 2029
Table 9 : Global Market for Emerging Medical Devices in Orthopedics, by Region, Through 2029
Table 10 : FDA Clearance of Diabetes Technology Devices, 2022 and 2023
Table 11 : Global Market for Emerging Medical Devices in Diabetic Care, by Region, Through 2029
Table 12 : Global Market for Emerging Medical Devices in Endoscopy, by Region, Through 2029
Table 13 : Global Market for Emerging Medical Devices in Urology, by Region, Through 2029
Table 14 : Global Market for Emerging Medical Devices in Other Devices, by Region, Through 2029
Table 15 : Global Market for Emerging Medical Devices, by End User, Through 2029
Table 16 : Global Market for Medical Devices in Hospitals and Clinics, by Region, Through 2029
Table 17 : Global Market for Emerging Medical Devices in Home Healthcare, by Region, Through 2029
Table 18 : Global Market for Emerging Medical Devices in Diagnostic Centers, by Region, Through 2029
Table 19 : Global Market for Emerging Medical Devices in Ambulatory Surgical Centers, by Region, Through 2029
Table 20 : Global Market for Emerging Medical Devices in Other End Users, by Region, Through 2029
Table 21 : Global Market for Emerging Medical Devices, by Region, Through 2029
Table 22 : North American Market for Emerging Medical Devices, by Country, Through 2029
Table 23 : U.S. Market for Emerging Medical Devices, by Device Type, Through 2029
Table 24 : U.S. Market for Emerging Medical Devices, by End User, Through 2029
Table 25 : Select U.S. FDA-Approved AI- and ML-Enabled Medical Devices, 2024
Table 26 : Canadian Market for Emerging Medical Devices, by Device Type, Through 2029
Table 27 : Canadian Market for Emerging Medical Devices, by End User, Through 2029
Table 28 : Mexican Market for Emerging Medical Devices, by Device Type, Through 2029
Table 29 : Mexican Market for Emerging Medical Devices, by End User, Through 2029
Table 30 : European Market for Emerging Medical Devices, by Country, Through 2029
Table 31 : German Market for Emerging Medical Devices, by Device Type, Through 2029
Table 32 : German Market for Emerging Medical Devices, by End User, Through 2029
Table 33 : French Market for Emerging Medical Devices, by Device Type, Through 2029
Table 34 : French Market for Emerging Medical Devices, by End-user, Through 2029
Table 35 : U.K. Market for Emerging Medical Devices, by Device Type, Through 2029
Table 36 : U.K. Market for Emerging Medical Devices, by End User, Through 2029
Table 37 : Italian Market for Emerging Medical Devices, by Device Type, Through 2029
Table 38 : Italian Market for Emerging Medical Devices, by End User, Through 2029
Table 39 : Spanish Market for Emerging Medical Devices, by Device Type, Through 2029
Table 40 : Spanish Market for Emerging Medical Devices, by End User, Through 2029
Table 41 : Rest of European Market for Emerging Medical Devices, by Device Type, Through 2029
Table 42 : Rest of European Market for Emerging Medical Devices, by End User, Through 2029
Table 43 : Asia-Pacific Market for Medical Devices, by Country, Through 2029
Table 44 : Japanese Market for Emerging Medical Devices, by Device Type, Through 2029
Table 45 : Japanese Market for Emerging Medical Devices, by End User, Through 2029
Table 46 : Chinese Market for Emerging Medical Devices, by Device Type, Through 2029
Table 47 : Chinese Market for Emerging Medical Devices, by End User, Through 2029
Table 48 : Number of Applications and Approvals for Medical and IVD Devices in China, 2024
Table 49 : Indian Market for Emerging Medical Devices, by Device Type, Through 2029
Table 50 : Indian Market for Emerging Medical Devices, by End User, Through 2029
Table 51 : Australian and New Zealand Market for Emerging Medical Devices, by Device Type, Through 2029
Table 52 : Australian and New Zealand Market for Emerging Medical Devices, by End User, Through 2029
Table 53 : Rest of Asia-Pacific Market for Emerging Medical Devices, by Device Type, Through 2029
Table 54 : Rest of Asia-Pacific Market for Emerging Medical Devices, by End User, Through 2029
Table 55 : Rest of the World Market for Medical Devices, by Country/Region, Through 2029
Table 56 : Brazilian Market for Emerging Medical Devices, by Device Type, Through 2029
Table 57 : Brazilian Market for Emerging Medical Devices, by End User, Through 2029
Table 58 : GCC Countries Market for Emerging Medical Devices, by Device Type, Through 2029
Table 59 : GCC Countries Market for Emerging Medical Devices, by End User, Through 2029
Table 60 : Other Rest of the World Market for Emerging Medical Devices, by Device Type, Through 2029
Table 61 : Other Rest of the World Market for Emerging Medical Devices, by End User, Through 2029
Table 62 : ESG Practices: Environmental
Table 63 : ESG Practices: Social Performance
Table 64 : ESG Practices: Governance Performance
Table 65 : ESG Rankings for Major Medical Device Companies, 2023-2024*
Table 66 : 3M: Company Snapshot
Table 67 : 3M: Financial Performance, FY 2022 and 2023
Table 68 : 3M: Product Portfolio
Table 69 : 3M: News/Key Developments, 2022 and 2023
Table 70 : Abbott: Company Snapshot
Table 71 : Abbott: Financial Performance, FY 2022 and 2023
Table 72 : Abbott: Product Portfolio
Table 73 : Abbott: News/Key Developments, 2022-2024
Table 74 : BD: Company Snapshot
Table 75 : BD: Financial Performance, FY 2023 and 2024
Table 76 : BD: Product Portfolio
Table 77 : BD: News/Key Developments, 2023 and 2024
Table 78 : Baxter: Company Snapshot
Table 79 : Baxter: Financial Performance, FY 2022 and 2023
Table 80 : Baxter: Product Portfolio
Table 81 : Baxter: News/Key Developments, 2021-2024
Table 82 : Boston Scientific Corp.: Company Snapshot
Table 83 : Boston Scientific Corp.: Financial Performance, FY 2022 and 2023
Table 84 : Boston Scientific Corp.: Product Portfolio
Table 85 : Boston Scientific Corp.: News/Key Developments, 2023 and 2024
Table 86 : Danaher Corp.: Company Snapshot
Table 87 : Danaher Corp.: Financial Performance, FY 2022 and 2023
Table 88 : Danaher Corp.: Product Portfolio
Table 89 : Danaher Corp.: News/Key Developments, 2021-2024
Table 90 : F. Hoffmann-La Roche Ltd.: Company Snapshot
Table 91 : F. Hoffmann-La Roche Ltd.: Financial Performance, FY 2022 and 2023
Table 92 : F. Hoffmann-La Roche Ltd.: Product Portfolio
Table 93 : F. Hoffmann-La Roche Ltd.: News/Key Developments, 2022-2024
Table 94 : GE HealthCare: Company Snapshot
Table 95 : GE HealthCare: Financial Performance, FY 2022 and 2023
Table 96 : GE HealthCare: Product Portfolio
Table 97 : GE Healthcare: News/Key Developments, 2023 and 2024
Table 98 : Johnson & Johnson Services Inc.: Company Snapshot
Table 99 : Johnson & Johnson Services Inc.: Financial Performance, FY 2022 and 2023
Table 100 : Johnson & Johnson Services Inc.: Product Portfolio
Table 101 : Johnson & Johnson Services Inc.: News/Key Developments, 2023 and 2024
Table 102 : Koninklijke Philips N.V.: Company Snapshot
Table 103 : Koninklijke Philips N.V.: Financial Performance, FY 2022 and 2023
Table 104 : Koninklijke Philips N.V.: Product Portfolio
Table 105 : Koninklijke Philips N.V.: News/Key Developments, 2023 and 2024
Table 106 : Medtronic: Company Snapshot
Table 107 : Medtronic: Financial Performance, FY 2023 and 2024
Table 108 : Medtronic: Product Portfolio
Table 109 : Medtronic: News/Key Developments, 2022?2024
Table 110 : QuidelOrtho Corp.: Company Snapshot
Table 111 : QuidelOrtho Corp.: Financial Performance, FY 2022 and 2023
Table 112 : QuidelOrtho Corp.: Product Portfolio
Table 113 : QuidelOrtho Corp.: News/Key Developments, 2021?2024
Table 114 : Siemens Healthineers AG: Company Snapshot
Table 115 : Siemens Healthineers AG: Financial Performance, FY 2023 and 2024
Table 116 : Siemens Healthineers AG: Product Portfolio
Table 117 : Siemens Healthineers AG: News/Key Developments, 2021?2023
Table 118 : Stryker: Company Snapshot
Table 119 : Stryker: Financial Performance, FY 2022 and 2023
Table 120 : Stryker: Product Portfolio
Table 121 : Stryker: News/Key Developments, 2022?2024
Table 122 : Thermo Fisher Scientific Inc.: Company Snapshot
Table 123 : Thermo Fisher Scientific Inc.: Financial Performance, FY 2022 and 2023
Table 124 : Thermo Fisher Scientific Inc.: Product Portfolio
Table 125 : Thermo Fisher Scientific Inc.: News/Key Developments, 2022 and 2023
List of Figures
Summary Figure : Global Market Share of Emerging Medical Devices, by Device Type 2023
Figure 1 : Market Dynamics of Emerging Medical Device Technologies
Figure 2 : Challenges in the Medical Device Market
Figure 3 : Types of Medical Devices that Benefit from Advanced Software Solutions
Figure 4 : Number of FDA Approvals of AI/ML-enabled Medical Devices, 2016-2023
Figure 5 : Global Market Shares for Emerging Medical Devices, by Device Type, 2023
Figure 6 : Global Market Share for Emerging Medical Devices, by End User, 2023
Figure 7 : Global Market Share for Emerging Medical Devices, by Region, 2023
Figure 8 : North American Market Shares for Emerging Medical Devices, by Device Type, 2023
Figure 9 : North American Market Shares for Emerging Medical Devices, by End User, 2023
Figure 10 : North American Market Shares for Emerging Medical Devices, by Country, 2023
Figure 11 : European Market Shares for Emerging Medical Devices, by Device Type, 2023
Figure 12 : European Market Shares for Emerging Medical Devices, by End User, 2023
Figure 13 : European Market Shares for Emerging Medical Devices, by Country, 2023
Figure 14 : Asia-Pacific Market Shares for Emerging Medical Devices, by Device Type, 2023
Figure 15 : Asia-Pacific Market Shares for Emerging Medical Devices, by End User, 2023
Figure 16 : Asia-Pacific Market Shares for Emerging Medical Devices, by Country, 2023
Figure 17 : Rest of the World Market Shares for Emerging Medical Devices, by Device Type, 2023
Figure 18 : Rest of the World Market Shares for Emerging Medical Devices, by End User, 2023
Figure 19 : Rest of the World Market Shares for Emerging Medical Devices, by Country/Region, 2023
Figure 20 : Global Market Shares for Emerging Medical Devices and Technologies, by Company, 2023
Figure 21 : Snapshot: Key ESG Trends in the Medical Device Industry
Figure 22 : Viewpoints on Sustainable Medical Devices
Figure 23 : 3M: Revenue Shares, by Business Unit, FY 2023
Figure 24 : 3M: Revenue Shares, by Country/Region, FY 2023
Figure 25 : Abbott: Revenue Shares, by Business Unit, FY 2023
Figure 26 : Abbott: Revenue Shares, by Country/Region, FY 2023
Figure 27 : BD: Revenue Shares, by Business Unit, FY 2024
Figure 28 : BD: Revenue Shares, by Country/Region, FY 2024
Figure 29 : Baxter: Revenue Shares, by Business Unit, FY 2023
Figure 30 : Baxter: Revenue Shares, by Country/Region, FY 2023
Figure 31 : Boston Scientific Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 32 : Boston Scientific Corp.: Revenue Shares, by Country/Region, FY 2023
Figure 33 : Danaher Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 34 : Danaher Corp.: Revenue Shares, by Country/Region, FY 2023
Figure 35 : F. Hoffmann-La Roche Ltd.: Revenue Shares, by Business Unit, FY 2023
Figure 36 : F. Hoffmann-La Roche Ltd.: Revenue Shares, by Country/Region, FY 2023
Figure 37 : GE HealthCare: Revenue Shares, by Business Unit, FY 2023
Figure 38 : GE HealthCare: Revenue Shares, by Country/Region, FY 2023
Figure 39 : Johnson & Johnson Services Inc.: Revenue Shares, by Business Unit, FY 2023
Figure 40 : Johnson & Johnson Services Inc.: Revenue Shares, by Country/Region, FY 2023
Figure 41 : Koninklijke Philips N.V.: Revenue Shares, by Business Unit, FY 2023
Figure 42 : Koninklijke Philips N.V.: Revenue Shares, by Country/Region, FY 2023
Figure 43 : Medtronic.: Revenue Shares, by Business Unit, FY 2024
Figure 44 : Medtronic: Revenue Shares, by Country/Region, FY 2024
Figure 45 : QuidelOrtho Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 46 : QuidelOrtho Corp.: Revenue Shares, by Country/Region, FY 2023
Figure 47 : Siemens Healthineers AG: Revenue Shares, by Business Unit, FY 2024
Figure 48 : Siemens Healthineers AG: Revenue Shares, by Country/Region, FY 2024
Figure 49 : Stryker: Revenue Shares, by Business Unit, FY 2023
Figure 50 : Stryker: Revenue Shares, by Country/Region, FY 2023
Figure 51 : Thermo Fisher Scientific Inc.: Revenue Shares, by Business Unit, FY 2023
Figure 52 : Thermo Fisher Scientific Inc.: Revenue Shares, by Country/Region, FY 2023
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