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Report
Medical Devices: Technologies and Global Markets
Market Research Report I 2024-10-07 I 179 Pages I BCC Research
Description
Report Scope
This report provides an in-depth analysis of the market for medical device technology, including market estimations and trends through 2029. Major players, competitive intelligence, innovative technologies, market dynamics, and regional opportunities are discussed in detail. The report examines recent developments and product 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 extends to only those medical device technologies that generate the most global revenue. Dental device technologies and some imaging devices used in dentistry overlap with other devices that are already covered under the imaging device technologies segments, so these have been excluded.
Based on device type, the market is segmented into drug delivery devices, in vitro diagnostics (IVD), urology and renal, orthopedics and spine, imaging devices, cardiovascular devices, and endoscopy. The imaging devices are categorized into X-ray systems, ultrasound systems, computed tomography, magnetic resonance imaging, clinical/point of care, interventional radiology, nuclear medicine/positron emission tomography, and laser imaging. Based on type of in vitro device, the market is segmented into immunochemistry, clinical chemistry, molecular diagnostics, point-of-care tests, and hematology. Based on type of cardiovascular device, the market is segmented into defibrillators, pacemakers, ventricular-assist devices, loop recorders, and others. Based on type of end user, the market is segmented into hospitals and clinics, home healthcare, ambulatory surgical centers, and diagnostic centers.
The market is segmented by geographical region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Also included in the geographic 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. For market estimates, data is provided for 2023 as the base year, with estimates for 2024 and a forecast value for 2029.
Report Includes
- 58 data tables and 58 additional tables
- An analysis of the current and future global markets and technologies for medical devices
- Analyses of global market trends, with market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the global medical device market, with market share analysis by device types and subtypes, end-user, and region
- Discussion of the market dynamics, opportunities, and challenges, as well as emerging technologies
- Discussion of key regulations of the industry and coverage of advancements and recent innovations in the medical device industry
- Overview of sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG rankings, and consumer attitudes
- Competitive intelligence, including companies' market shares, recent M&A activity, and venture funding.
- Profiles of the leading companies, including Abbott, BD, Danaher Corp., Medtronic and F. Hoffmann-La Roche Ltd.
Executive Summary
Summary:
The global market for medical devices was valued at $739.6 billion in 2023. The drug delivery devices segment recorded a value of $172.4 billion in 2023, and this segment is projected to grow at a CAGR of 8.1% during the forecast period. The market share of 23.3% in 2023 and the median growth rate of this segment are attributed to factors such as therapeutic efficacy, reduced toxicity, increased patient compliance, and enabling entirely new medical treatments. Growth in imaging devices is attributed to the development of diagnostic procedures used in clinics and the rise in demand for the detection of blood, whether infected or having other disorders.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Chapter 2 Market and Technology Background
Innovation
Overview
Types
Current Trends
Enhanced Cybersecurity
Wearable Fitness Technology
Internet of Medical Things
Healthcare and Robotics
3D Printing
Device Connectivity
Regulations
Delay in Legacy of Medical Device Compliance: Europe
U.S. FDA Implements Electronic Submission Templates
Revision of Brazil's ANVISA
Mexico COFEPRIS Releases Edition 5.0
Developments in Thailand and Israel
Regulation of Medical Devices in India
Regulation of Medical Devices in China
PESTLE Analysis
Chapter 3 Market Dynamics
Overview
Market Drivers
Rise in the Aging Population and Diagnosis Procedures
Increasing Use of Artificial Intelligence in Medical Devices
Rising Incidence of Chronic Disease
Need for Improving Public Health
Improving Disease Diagnosis
Increased Patient Education
Market Restraints
Cybersecurity Risks in Healthcare
Failure in Medical Device Designs
Supply Chain Issues and Quality Concerns
Market Opportunities
Healthcare Delivery with Mobile Medical Imaging
Expanding Use of Point-of-Care Ultrasound (POCUS)
Technological Developments in Medical Devices
Chapter 4 Emerging Technologies and Developments
Major Medical Device and Technology Advances in 2024
Adaptive Hearing Aids
Bioprinting
Glucose Monitoring Wearables
Brain-Machine Interfaces
Major Medical Device and Technology Advances in 2023
Medical Diagnosis Software
Automated Medical Coding
Artificial Intelligence in Radiology
Surgical Robots
Trends in Medical Device Technology
Chapter 5 Market Segmentation Analysis
Segmentation Breakdown
Market Analysis by Device Type
Drug Delivery Devices
In Vitro Diagnostics
Urology and Renal
Orthopedics and Spine
Imaging Devices
Cardiovascular Devices
Endoscopy
Market Analysis by End User
Hospitals and Clinics
Home Healthcare
Ambulatory Surgical Centers
Diagnostic Centers
Other End Users
Geographical Breakdown
Market Analysis by Region
North America
Europe
Asia-Pacific
Rest of the World
Chapter 6 Competitive Intelligence
Introduction
Global Analysis of Company Market Rank
Agreements, Collaborations and Partnerships
Siemens Healthineers and Sysmex Enter into a Global Agreement
Roche Enters Agreement with PathAI
Quidel Corp. Signs Agreement to Acquire Ortho Clinical Diagnostics
GE HealthCare Collaborates with Boston Scientific
Medtronic Collaborates with Nvidia Corp.
2023 Device Approvals
Start-ups in Medical Devices
Chapter 7 Sustainability
Importance of ESG in Medical Devices Manufacturing Industry
ESG Practices in the Medical Device Industry
Environmental Performance
Social Performance
Governance Performance
ESG Risk Rankings
BCC Research Viewpoint
Chapter 8 Appendix
Research Methodology
References
Company Profiles
3M
ABBOTT
BD
BAYER AG
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 HEALTHNIEERS AG
STRYKER
THERMO FISHER SCIENTIFIC INC.
List of Tables
Summary Table : Global Market for Medical Devices, by Device Type, Through 2029
Table 1 : Medical Device Codes
Table 2 : PESTLE Analysis on Medical Device Technology Market
Table 3 : Latest Medical Devices: Surgical Robotics, 2024
Table 4 : Global Market for Medical Devices, by Device Type, Through 2029
Table 5 : Global Market for Drug Delivery Devices, by Region, Through 2029
Table 6 : Global Market for In Vitro Diagnostics Medical Devices, by Type, Through 2029
Table 7 : Global Market for In Vitro Diagnostics Medical Devices, by Region, Through 2029
Table 8 : Global Market for Immunochemistry IVD, by Region, Through 2029
Table 9 : Global Market for Clinical Chemistry IVD, by Region, Through 2029
Table 10 : Global Market for Molecular Diagnostics IVD, by Region, Through 2029
Table 11 : Global Market for IVD Point-of-Care Testing, by Region, Through 2029
Table 12 : Global Market for Hematology IVD, by Region, Through 2029
Table 13 : Global Market for Urology and Renal Medical Devices, by Region, Through 2029
Table 14 : Global Market for Orthopedics and Spine Medical Devices, by Region, Through 2029
Table 15 : Global Market for Imaging Medical Devices, by Type, Through 2029
Table 16 : Global Market for Imaging Medical Devices, by Region, Through 2029
Table 17 : Global Market for Magnetic Resonance Imaging Systems, by Region, Through 2029
Table 18 : Global Market for Ultrasound Systems, by Region, Through 2029
Table 19 : Global Market for X-ray Systems, by Region, Through 2029
Table 20 : Global Market for Computed Tomography, by Region, Through 2029
Table 21 : PET Imaging Volume Share, by Hospital Department, 2023
Table 22 : Global Market for Nuclear Medicine/PET Systems, by Region, Through 2029
Table 23 : Global Market for Interventional Radiology Systems, by Region, Through 2029
Table 24 : Global Market for Clinical and Point-of-Care Imaging Systems, by Region, Through 2029
Table 25 : Global Market for Laser Imaging Systems, by Region, Through 2029
Table 26 : Global Market for Cardiovascular Medical Devices, by Type, Through 2029
Table 27 : Global Market for Cardiovascular Medical Devices, by Region, Through 2029
Table 28 : Global Market for Defibrillators, by Region, Through 2029
Table 29 : Global Market for Pacemakers, by Region, Through 2029
Table 30 : Global Market for Ventricular Assist Devices, by Region, Through 2029
Table 31 : Global Market for Loop Recorders, by Region, Through 2029
Table 32 : Global Market for Other Cardiovascular Medical Devices, by Region, Through 2029
Table 33 : Global Market for Endoscopy Medical Devices, by Region, Through 2029
Table 34 : Global Market for Medical Devices, by End User, Through 2029
Table 35 : Global Market for Medical Devices in Hospitals and Clinics, by Region, Through 2029
Table 36 : Global Market for Medical Devices in Home Healthcare, by Region, Through 2029
Table 37 : Global Market for Medical Devices in Ambulatory Surgical Centers, by Region, Through 2029
Table 38 : Global Market for Medical Devices in Diagnostic Laboratories, by Region, Through 2029
Table 39 : Global Market for Medical Devices in Other End Users, by Region, Through 2029
Table 40 : Global Market for Medical Devices, by Region, Through 2029
Table 41 : North American Market for Medical Devices, by Country, Through 2029
Table 42 : Select U.S. FDA-Approved Artificial Intelligence- and Machine Learning-Enabled Medical Devices, 2024
Table 43 : European Market for Medical Devices, by Country, Through 2029
Table 44 : Asia-Pacific Market for Medical Devices, by Country, Through 2029
Table 45 : Number of Applications and Approvals for Medical Devices and In Vitro Diagnostic Devices in China, 2024
Table 46 : Rest of the World Market for Medical Devices, by Country, Through 2029
Table 47 : Medical Devices Cleared or Approved by the FDA, 2023
Table 48 : ESG Practices: Environmental Performance
Table 49 : ESG Practices: Social Performance
Table 50 : ESG Practices: Governance Performance
Table 51 : ESG Rankings for Major Medical Device Companies, 2023-2024*
Table 52 : 3M: Company Snapshot
Table 53 : 3M: Financial Performance, FY 2022 and 2023
Table 54 : 3M: Product Portfolio
Table 55 : 3M: News/Key Developments, 2022 and 2023
Table 56 : Abbott: Company Snapshot
Table 57 : Abbott: Financial Performance, FY 2022 and 2023
Table 58 : Abbott: Product Portfolio
Table 59 : Abbott: News/Key Developments, 2022-2024
Table 60 : BD: Company Snapshot
Table 61 : BD: Financial Performance, FY 2022 and 2023
Table 62 : BD: Product Portfolio
Table 63 : BD: News/Key Developments, 2023 and 2024
Table 64 : Bayer AG: Company Snapshot
Table 65 : Bayer AG: Financial Performance, FY 2022 and 2023
Table 66 : Bayer AG: Product Portfolio
Table 67 : Bayer AG: News/Key Developments, 2023 and 2024
Table 68 : Baxter: Company Snapshot
Table 69 : Baxter: Financial Performance, FY 2022 and 2023
Table 70 : Baxter: Product Portfolio
Table 71 : Baxter: News/Key Developments, 2021-2024
Table 72 : Boston Scientific Corp.: Company Snapshot
Table 73 : Boston Scientific Corp.: Financial Performance, FY 2022 and 2023
Table 74 : Boston Scientific Corp.: Product Portfolio
Table 75 : Boston Scientific Corp.: News/Key Developments, 2023 and 2024
Table 76 : Danaher Corp.: Company Snapshot
Table 77 : Danaher Corp.: Financial Performance, FY 2022 and 2023
Table 78 : Danaher Corp.: Product Portfolio
Table 79 : Danaher Corp.: News/Key Developments, 2021-2024
Table 80 : F. Hoffmann-La Roche Ltd.: Company Snapshot
Table 81 : F. Hoffmann-La Roche Ltd.: Financials, FY 2022-2023
Table 82 : F. Hoffmann-La Roche Ltd.: Product Portfolio
Table 83 : F. Hoffmann-La Roche Ltd.: News/Key Developments, 2022-2024
Table 84 : GE HealthCare: Company Snapshot
Table 85 : GE HealthCare: Financial Performance, FY 2022 and 2023
Table 86 : GE HealthCare: Product Portfolio
Table 87 : GE HealthCare: News/Key Developments, 2023 and 2024
Table 88 : Johnson and Johnson Services Inc.: Company Snapshot
Table 89 : Johnson and Johnson Services Inc.: Financial Performance, FY 2022 and 2023
Table 90 : Johnson and Johnson Services Inc.: Product Portfolio
Table 91 : Johnson and Johnson Services Inc.: News/Key Developments, 2023 and 2024
Table 92 : Koninklijke Philips N.V.: Company Snapshot
Table 93 : Koninklijke Philips N.V.: Financial Performance, FY 2022 and 2023
Table 94 : Koninklijke Philips N.V.: Product Portfolio
Table 95 : Koninklijke Philips N.V.: News/Key Developments, 2023 and 2024
Table 96 : Medtronic: Company Snapshot
Table 97 : Medtronic: Financial Performance, FY 2022 and 2023
Table 98 : Medtronic: Product Portfolio
Table 99 : Medtronic: News/Key Developments, 2022?2024
Table 100 : QuidelOrtho Corp.: Company Snapshot
Table 101 : QuidelOrtho Corp.: Financial Performance, FY 2022 and 2023
Table 102 : QuidelOrtho Corp.: Product Portfolio
Table 103 : QuidelOrtho Corp.: News/Key Developments, 2021?2024
Table 104 : Siemens Healthineers AG: Company Snapshot
Table 105 : Siemens Healthineers AG: Financial Performance, FY 2022 and 2023
Table 106 : Siemens Healthineers AG: Product Portfolio
Table 107 : Siemens Healthineers AG: News/Key Developments, 2021?2023
Table 108 : Stryker: Company Snapshot
Table 109 : Stryker: Financial Performance, FY 2022 and 2023
Table 110 : Stryker: Product Portfolio
Table 111 : Stryker: News/Key Developments, 2022?2024
Table 112 : Thermo Fisher Scientific Inc.: Company Snapshot
Table 113 : Thermo Fisher Scientific Inc.: Financial Performance, FY 2022 and 2023
Table 114 : Thermo Fisher Scientific Inc.: Product Portfolio
Table 115 : Thermo Fisher Scientific Inc.: News/Key Developments, 2022 and 2023
List of Figures
Summary Figure : Global Market Share of Medical Devices, by Device Type 2023
Figure 1 : Market Dynamics Snapshot for Medical Device Technologies and Global Markets
Figure 2 : Global Projected Shares of Elderly Population (Aged 65 and Above), by Region, 2050
Figure 3 : Types of Medical Devices that Benefit from Advanced Software Solutions
Figure 4 : Share of Trends in the Medical Device Sector, 2023
Figure 5 : Global Market Share of Medical Devices, by Device Type, 2023
Figure 6 : Global Market Share of In Vitro Diagnostics Medical Devices, by Type, 2023
Figure 7 : Global Market Share of Imaging Medical Devices, by Type, 2023
Figure 8 : Global Market Share of Cardiovascular Medical Devices, by Type, 2023
Figure 9 : Global Market Share of Medical Devices, by End User, 2023
Figure 10 : Global Market Share of Medical Devices, by Region, 2023
Figure 11 : North American Market Share of Medical Devices, by Device Type, 2023
Figure 12 : North American Market Share of Imaging Medical Devices, by Type, 2023
Figure 13 : North American Market Share of In Vitro Diagnostics Medical Devices, by Type, 2023
Figure 14 : North American Market Share of Medical Devices, by End User, 2023
Figure 15 : North American Market Share of Medical Devices, by End User, 2023
Figure 16 : North American Market Share of Medical Devices, by Country, 2023
Figure 17 : European Market Share of Medical Devices, by Device Type, 2023
Figure 18 : European Market Share of Imaging Medical Devices, by Type, 2023
Figure 19 : European Market Share of In Vitro Diagnostics Medical Devices, by Type, 2023
Figure 20 : European Market Share of Cardiovascular Medical Devices, by Type, 2023
Figure 21 : European Market Share of Medical Devices, by End User, 2023
Figure 22 : European Market Share of Medical Devices, by Country, 2023
Figure 23 : Asia-Pacific Market Share of Medical Devices, by Device Type, 2023
Figure 24 : Asia-Pacific Market Share of Imaging Medical Devices, by Type, 2023
Figure 25 : Asia-Pacific Market Share of In Vitro Diagnostics Medical Devices, by Type, 2023
Figure 26 : Asia-Pacific Market Share of Cardiovascular Medical Devices, by Type, 2023
Figure 27 : Asia-Pacific Market Share of Medical Devices, by End User, 2023
Figure 28 : Asia-Pacific Market Share of Medical Devices, by Country, 2023
Figure 29 : Rest of the World Market Share of Medical Devices, by Device Type, 2023
Figure 30 : Rest of the World Market Share of Imaging Medical Devices, by Type, 2023
Figure 31 : Rest of the World Market Share of In Vitro Diagnostics Medical Devices, by Type, 2023
Figure 32 : Rest of the World Market Share of Cardiovascular Medical Devices, by Type, 2023
Figure 33 : Rest of the World Market Share of Medical Devices, by End User, 2023
Figure 34 : Rest of the World Market Share of Medical Devices, by Country, 2023
Figure 35 : Global Market Share of Medical Devices and Technologies, by Company, 2023
Figure 36 : Snapshot: Key ESG Trends in the Medical Device Industry
Figure 37 : Viewpoints on Sustainable Medical Devices
Figure 38 : 3M: Revenue Share, by Country/Region, FY 2023
Figure 39 : 3M: Revenue Share, by Business Unit, FY 2023
Figure 40 : Abbott: Revenue Share, by Business Unit, FY 2023
Figure 41 : Abbott: Revenue Share, by Country/Region, FY 2023
Figure 42 : BD: Revenue Share, by Country/Region, FY 2023
Figure 43 : BD: Revenue Share, by Business Unit, FY 2023
Figure 44 : Bayer AG: Revenue Share, by Country/Region, FY 2023
Figure 45 : Bayer AG: Revenue Share, by Business Unit, FY 2023
Figure 46 : Baxter: Revenue Share, by Business Unit, FY 2023
Figure 47 : Baxter: Revenue Share, by Country/Region, FY 2023
Figure 48 : Boston Scientific Corp.: Revenue Share, by Business Unit, FY 2023
Figure 49 : Boston Scientific Corp.: Revenue Share, by Country/Region, FY 2023
Figure 50 : Danaher Corp.: Revenue Share, by Business Unit, FY 2023
Figure 51 : Danaher Corp.: Revenue Share, by Country/Region, FY 2023
Figure 52 : F. Hoffmann-La Roche Ltd.: Revenue Share, by Business Unit, FY 2023
Figure 53 : F. Hoffmann-La Roche Ltd.: Revenue Share, by Country/Region, FY 2023
Figure 54 : GE HealthCare: Revenue Share, by Business Unit, FY 2023
Figure 55 : GE HealthCare: Revenue Share, by Country/Region, FY 2023
Figure 56 : Johnson and Johnson Services Inc.: Revenue Share, by Business Unit, FY 2023
Figure 57 : Johnson and Johnson Services Inc.: Revenue Share, by Country/Region, FY 2023
Figure 58 : Koninklijke Philips N.V.: Revenue Share, by Business Unit, FY 2023
Figure 59 : Koninklijke Philips N.V.: Revenue Share, by Country/Region, FY 2023
Figure 60 : Medtronic.: Revenue Share, by Business Unit, FY 2023
Figure 61 : Medtronic: Revenue Share, by Country/Region, FY 2023
Figure 62 : QuidelOrtho Corp.: Revenue Share, by Business Unit, FY 2023
Figure 63 : QuidelOrtho Corp.: Revenue Share, by Country/Region, FY 2023
Figure 64 : Siemens Healthineers AG: Revenue Share, by Business Unit, FY 2023
Figure 65 : Siemens Healthineers AG: Revenue Share, by Country/Region, FY 2023
Figure 66 : Stryker: Revenue Share, by Business Unit, FY 2023
Figure 67 : Stryker: Revenue Share, by Country/Region, FY 2023
Figure 68 : Thermo Fisher Scientific Inc.: Revenue Share, by Business Unit, FY 2023
Figure 69 : Thermo Fisher Scientific Inc.: Revenue Share, by Country/Region, FY 2023
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