Bharat Book Bureau Provides the Trending Market Research Report on “Medical Devices Global Market Opportunities And Strategies To 2030” under Life Sciences Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

The global Medical Devices Market reached a value of nearly $456.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.4% since 2015. The market is expected to decline from $456.9 billion in 2019 to $442.5 billion in 2020 at a rate of -3.2%. The decline is mainly due to lockdowns imposed by the governments across the world that hindered the supply chain in the medical devices manufacturing industry. However, there is an unprecedented increase in the manufacturing of the ventilators that are used to treat COVID-19 patients. The market is then expected to recover and grow at a CAGR of 6.1% from 2021 and reach $603.5 billion in 2023.

Growth in the historic period resulted from a rise in the number of healthcare facilities, healthcare expenditure, technological advancements and rapid growth of the elderly population. Factors that negatively affected growth in the historic period were low healthcare awareness and low healthcare reimbursements. Going forward beyond 2020, a rapid increase in the prevalence of infectious diseases, and increasing prevalence of chronic diseases will support the market growth. Factors that could hinder the growth of the medical devices market in the future include supply chain disruptions due to the COVID-19 pandemic, increase in interest rates, data security and regulatory challenges.

Request a free sample copy Medical Devices Market report @
https://www.bharatbook.com/marketreports/sample/reports/2111400

The medical devices market is segmented by type of product into in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices and wound care devices.

The in-vitro diagnostics market was the largest segment of the medical devices market segmented by type of product, accounting for 12.7% share of the total market in 2019. Going forward, the hospital supplies market segment is expected to be the fastest growing segment in the medical devices market, at a CAGR of 11.1% during 2019-023.

The medical devices market is segmented by type of expenditure into public and private. Public healthcare expenditure was the largest segment of the medical devices market segmented by type of expenditure, accounting for a 51.5% share of the total market in 2019. Going forward, the public healthcare expenditure segment is also expected to be the fastest growing segment in the medical devices market, at a CAGR of 7.7% during 2019-2023.

The medical devices market is segmented by end user into homecare, hospitals and clinics and diagnostic centers. Hospitals and clinics was the largest segment of the medical devices market segmented by end user, accounting for an 88.7% share of the total market in 2019. Going forward, the diagnostic centers segment is expected to be the fastest growing segment in the medical devices market, at a CAGR of 8.6% during 2019-2023.

North America was the largest region in the global medical devices market, accounting for a 39.4% share of the total in 2019. It was followed by Asia-Pacific and Western Europe, and then the other regions. Going forward, the fastest-growing regions in the medical devices market will be Asia-Pacific and Eastern Europe, where growth will be at CAGRs of 9.7% and 9.2% respectively. These will be followed by Middle East and Africa, where the markets are expected to grow at CAGRs of 8.1% and 7.4% respectively during 2019-2023.

The global medical devices market is fragmented, with a large number of players in the market. The top ten competitors in the market made up to 34.4% of the total market in 2019. Major players in the market include Medtronic Plc, Johnson & Johnson, Abbott Laboratories., Becton, Dickinson and Company, Siemens Healthineers AG and others.

Browse our full report with Table of Content :
https://www.bharatbook.com/marketreports/medical-devices-global-market-opportunities-and-strategies-to-2030/2111400

About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,80,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.

Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Email: [email protected]
Website: www.bharatbook.com