Medical Equipment Industry Outlook - Expansion to be Propelled by Elevated Costs Amidst Inflation, By The Global Market Model From TBRC

A Comprehensive Global Medical Equipment Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

LONDON, Aug. 24, 2023 /PRNewswire/ -- The Global Market Model, The Business Research Company's flagship product, in its most recent projection for the medical equipment sector, issued in June 2023, furnishes the following key insights:

• What is the revenue of the medical equipment sector and what factors primarily influence it?
  In 2022, the global medical equipment market attained a valuation of $643.5 billion, constituting 0.6% of the worldwide GDP. Anticipated growth in the medical device industry stands at a compounded annual growth rate (CAGR) of 8.4% between 2022 and 2032. Notably, advancements in technologies such as 3D printing, robotics, and minimally invasive surgical procedures are expected to be pivotal drivers of medical device industry growth during the projection period.
• Prominent segments within the medical devices and equipment industry, along with key regions
  In 2022, the in-vitro diagnostics market emerged as the largest sector within the medical equipment domain, encompassing 14.9% of the total market share. The United States held a leading position in the medical equipment market, capturing 28.9% of the overall share in 2022.
• Prospects for the medical equipment industry in the forthcoming years
  The forecast remains notably steady in comparison to the preceding projection from late 2022. Factors such as inflation, economic challenges, the impact of the Russia-Ukraine conflict, and scarcities of essential raw materials like electronic components, metals, and plastics due to disruptions in the supply chain were all duly considered during our previous forecast update. Consequently, our projections for this market have remained steadfast throughout this update cycle.

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The Global Market Model also offers insights on the following key industry indicators to spot key medical equipment industry trends –

1. Asthma prevalence rate
2. Cancer prevalence rate
3. Cerebrovascular prevalence rate
4. Dermatitis prevalence rate
5. Diabetes prevalence rate
6. Glaucoma prevalence rate
7. Healthcare - number of employees
8. Healthcare - number of enterprises
9. Healthcare expenditure
10. Hearing loss prevalence rate
11. HIV prevalence rate
12. Hospital beds
13. Hypertension prevalence rate

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SOURCE The Business Research Company