| Source: BCC Research LLC
Boston, Dec. 18, 2024 (GLOBE NEWSWIRE) — According to the latest study from BCC Research the “Global Market for Medical Device Technologies” is expected to grow from $810.4 billion in 2024 to $1.3 trillion by the end of 2029, at a compound annual growth rate (CAGR) of 9.8% from 2024 through 2029.
This report is relevant due to the rapid advances in technology and the integration of AI in medical devices. As healthcare systems worldwide continue to evolve post-pandemic, the demand for innovative, technology-oriented devices has surged, prompting the need for examine market trends and developments. This report covers not only the current landscape but also anticipates future shifts in this dynamic market.
The report analyzes the medical device technology market, focusing on trends and market estimate through 2029. It evaluates the positioning of the major players and their product portfolios while assessing regulatory scenarios and emerging technologies. The market is segmented by device type, including drug delivery devices, in vitro diagnostics (IVD), urology and renal devices, orthopedics and spine, imaging devices, cardiovascular devices, and endoscopy. Imaging devices encompass X-rays, ultrasound and computed tomography. IVDs are categorized into immunochemistry, clinical chemistry and molecular diagnostics. The report also segments the market by end-users, such as hospitals, home healthcare, and diagnostic centers, while providing analysis of the markets North America, Europe, Asia-Pacific, and the Rest of the World, with specific focus on the U.S., Germany, the U.K. and Japan.
Click here for more details on the “Global Market for Medical Devices” report.
The following factors are driving the global market for medical devices:
Aging Population: More elderly people means a higher demand for devices to diagnose and manage age-related health issues.
AI Integration: AI enhances diagnostic accuracy and speeds up data analysis.
Chronic Diseases: Increasing cases of diabetes, cancer, and heart disease drive the need for advanced monitoring and treatment devices.
Public Health Improvement: Better healthcare infrastructure and access boost the demand for essential medical tools.
Enhanced Diagnosis: Technological advances make diagnostic devices more precise, faster, and less invasive.
Patient Education: Informed patients seek out the best medical technologies for managing their health.
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Report Synopsis
Interesting facts:
The report addresses the following questions:
Leading companies in the market include:
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