The Medical Devices Market is anticipated to grow significantly owing to the rise in geriatric population. Fortune Business Insights in a new study, titled “Medical Devices Market Size, Share and Global Trend by Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic Devices, Dental and Nephrology), End User (Hospitals and Ambulatory Surgical Centers and Clinics) and Geography Forecast till 2025” finds that in-vitro diagnostics is likely to dominate the medical devices market. According to the study, the segment covered a share of 14.6% in the global medical devices market in the year 2017.
The Medical Device Market is projected to expand at a CAGR of 5.3% between 2017 and 2025. In 2017, the market accounted for a value of US$ 397.5 Bn and is likely to reach US$ 602.1 Bn by 2025.
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The Key Companies Present In The Global Medical Devices Market Include:
Highlights of the Report
Increasing Adoption Of Novel Medical Technologies Will Boost Growth In North America
North America was valued at USD 169.3 Bn in 2018 and is expected to grow significantly during the forecast period owing to the well-developed healthcare infrastructure and faster adoption of new medical technologies. Asia Pacific, on the other hand, is an emerging market, exhibiting high growth potential due to increasing per capita income, growing the geriatric population, increasing disease awareness and improving health infrastructure.
However, the medical devices Industry in Europe is expected to expand at a relatively lower CAGR owing to the smaller patient pool compared to Asia Pacific. The market in Middle East and Africa and Latin America accounted for a comparatively small share of the market in 2018 and is expected to grow considerably during the forecast period.
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KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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Segmentation:
By Type
By End User
Adoption of Novel Technologies to Boost the Market in Asia Pacific
Based on regional demographics, the report classifies the global medical devise market into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the adoption of medical technologies is the highest in the Asia Pacific.
The growing adoption is a consequence of rising population and increasing number of chronic diseases. Additionally, increasing hospital visits will contribute to the demand for medical devices. Furthermore, the adoption of novel technologies in these products, coupled with the increased healthcare expenditure, will favor the growth of the market in Asia Pacific.
Table of Content:
1.Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2.Executive Summary
3.Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4.Key Insights
4.1 Recent industry developments such as mergers and acquisitions
4.2 Overview of healthcare expenditure by key countries
4.3 Technological advancements
4.4 Key industry trends
Continued…
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Medical Devices Market Global Size, Growth Insight, Share, Trends, Industry Key Players, Regional Forecast To 2025