The Specialty Devices Global Market Report 2023, provides comprehensive information on the specialty devices market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.



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The global specialty devices market size is expected to grow from $35.33 billion in 2022 to $41.08 billion in 2023 at a compound annual growth rate (CAGR) of 16.25%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global specialty devices market size is expected to reach $69.22 billion in 2027 at a CAGR of 13.94%.


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Technological advancement is a key trend gaining popularity in the specialty devices market. Major companies operating in the specialty devices market are focused on developing new technological solutions for motion control and other specialized products to strengthen their position in the market. For instance, in November 2022, TEXSPIN® Bearings Limited, India- based company operating in the automotive industry introduced its technological breakthroughs in the automotive sector through its technology-driven platforms. The platform involves bearings that are ‘green products’ that help to reduce pollution, vehicle friction, and fuel consumption. These are tribology cultivated through bearing development, and the heat treatment, precision machining, and precision measurement required for bearing manufacturing. These offer value-added innovative solutions across all its technology platforms, with a strong commitment to research-driven innovation.

The specialty devices market is segmented:
1) By Equipment: Construction Equipment, Machinery Manufacturing Equipment, Medical Equipment, Office Equipment, Outdoor Equipment, Technology-Communications Equipment, Transportation Equipment

2) By Supply Chain: Manufacturer, Distributor, Retailer
Asia-Pacific was the largest region in the specialty devices market in 2022.

The table of contents in TBRC’s specialty devices market report includes:
1. Executive Summary
2. Specialty Devices Market Characteristics
3. Specialty Devices Market Trends And Strategies
4. Specialty Devices Market - Macro Economic Scenario
5. Specialty Devices Market Size And Growth
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26. Africa Specialty Devices Market
27. Specialty Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Specialty Devices Market
29. Specialty Devices Market Future Outlook and Potential Analysis
30. Appendix


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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.


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