NEW YORK, July 3, 2023 /PRNewswire/ -- The medical technologies market is set to grow by USD 313 billion from 2022 to 2027. The market will be progressing at a CAGR of 8.3% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Frequent product launches in IVD (in-vitro diagnosis) drive the growth of the medical technologies market. The frequent product launches by vendors to cater to the growing demand will attribute to the market's growth. Effective and accurate results are enabled by advanced IVD products with molecular diagnostic capabilities. Moreover, increasing chronic diseases among people of all ages, the prevalence of cardiovascular diseases, and the increasing number of diseases will also influence the medical technologies market. Hence, such factors boost the market growth during the forecast period. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!
The medical technologies market covers the following areas:
- Medical Technologies Market Sizing
- Medical Technologies Market Forecast
- Medical Technologies Market Analysis
The report on the medical technologies market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Medical Technologies Market 2023-2027 - Market Dynamics
Major Trends
- The increasing adoption of IoT and connected devices is an emerging market trend.
- IoT is a world where data is exchanged between physical objects such as sensors, on-device software, and technologies that are adjacent to other systems and devices.
- It also has a wide range of healthcare applications, potentially extending both inside and outside healthcare facilities.
- Additionally, IoT connectivity and security solutions work seamlessly with a wide array of medical devices.
- Hence, the increasing use of IoT and connected medical devices is one of the major healthcare industry trends driving the growth of the global medical technologies market during the forecast period.
Major Challenges
- The high cost of implementation of digital health solutions challenge the market growth.
- Generally, a digital health system can be implemented over a period of time ranging from a few months to several years.
- For example, it took three years to integrate EHRs throughout the Partners HealthCare hospital network. Such incidents highlight how crucial thorough study is before deployment.
- Also, along with the cost, implementing digital healthcare solutions takes a lot of time.
- Hence, the high implementation costs of digital health will likely hamper the growth of the global medical technologies market during the forecast period.
Medical Technologies Market 2023-2027: Market Segmentation
This report extensively covers market segmentation by application (medical devices and in-vitro diagnostics), end-user (hospitals, clinics, and others), and geography (North America, Europe, Asia, and Rest of World (ROW).
- The market share growth by the medical devices segment will be significant for market growth during the forecast period. Therapeutic and surgical devices, patient monitoring, diagnostic and medical imaging devices (PMDMIDs), and other medical devices are among some of the major medical device categories. Factors such as the rising prevalence of diseases and associated risk factors, the aging population, awareness-raising initiatives by public and private organizations, and rising healthcare costs are boosting the growth of the medical devices segment. Hence, such factors boost the segment growth during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
Companies Mentioned
- Abbott Laboratories
- B. Braun Melsungen AG
- Baxter International Inc.
- Becton Dickinson and Co.
- Boston Scientific Corp.
- Canon Inc.
- F. Hoffmann La Roche Ltd.
- Fresenius SE and Co. KGaA
- General Electric Co.
- Johnson and Johnson Services Inc.
- Koninklijke Philips NV
- Medtronic Plc
- Nihon Kohden Corp.
- Olympus Corp.
- OMRON Corp.
- Siemens AG
- Smith and Nephew plc
- Stryker Corp.
- Zimmer Biomet Holdings Inc.
- Cardinal Health Inc.
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- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!
Vendor Offerings
- Becton Dickinson and Co. - The company offers medical technologies such as medical devices sterilized with electron beams.
- Boston Scientific Corp. - The company offers medical technologies such as NEXTLAB ASC and OBL Solutions, Lab Agent inventory management.
- Canon Inc. - The company offers medical technologies such as Alphenix for Angiography.
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Medical Technologies Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.3% |
Market growth 2023-2027 |
USD 313 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.34 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, B. Braun Melsungen AG, Baxter International Inc., Becton Dickinson and Co., Boston Scientific Corp., Canon Inc., F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, General Electric Co., Johnson and Johnson Services Inc., Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corp., Olympus Corp., OMRON Corp., Siemens AG, Smith and Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc., and Cardinal Health Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global medical technologies market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global medical technologies market 2017 - 2021 ($ billion)
- 4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)
- 4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Medical devices - Market size and forecast 2022-2027
- Exhibit 34: Chart on Medical devices - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Medical devices - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Medical devices - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Medical devices - Year-over-year growth 2022-2027 (%)
- 6.4 In-vitro diagnostics - Market size and forecast 2022-2027
- Exhibit 38: Chart on In-vitro diagnostics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on In-vitro diagnostics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on In-vitro diagnostics - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on In-vitro diagnostics - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Application
- Exhibit 42: Market opportunity by Application ($ billion)
- Exhibit 43: Data Table on Market opportunity by Application ($ billion)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 46: Chart on Comparison by End-user
- Exhibit 47: Data Table on Comparison by End-user
- 7.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 48: Chart on Hospitals - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Data Table on Hospitals - Market size and forecast 2022-2027 ($ billion)
- Exhibit 50: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 7.4 Clinics - Market size and forecast 2022-2027
- Exhibit 52: Chart on Clinics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Data Table on Clinics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 54: Chart on Clinics - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Clinics - Year-over-year growth 2022-2027 (%)
- 7.5 Others - Market size and forecast 2022-2027
- Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by End-user
- Exhibit 60: Market opportunity by End-user ($ billion)
- Exhibit 61: Data Table on Market opportunity by End-user ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 Asia - Market size and forecast 2022-2027
- Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)
- 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
- Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- 9.7 US - Market size and forecast 2022-2027
- Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.8 Germany - Market size and forecast 2022-2027
- Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.9 France - Market size and forecast 2022-2027
- Exhibit 91: Chart on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 92: Data Table on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on France - Year-over-year growth 2022-2027 (%)
- 9.10 China - Market size and forecast 2022-2027
- Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.11 Japan - Market size and forecast 2022-2027
- Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.12 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ billion)
- Exhibit 104: Data Tables on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Becton Dickinson and Co.
- Exhibit 111: Becton Dickinson and Co. - Overview
- Exhibit 112: Becton Dickinson and Co. - Business segments
- Exhibit 113: Becton Dickinson and Co. - Key news
- Exhibit 114: Becton Dickinson and Co. - Key offerings
- Exhibit 115: Becton Dickinson and Co. - Segment focus
- 12.4 Boston Scientific Corp.
- Exhibit 116: Boston Scientific Corp. - Overview
- Exhibit 117: Boston Scientific Corp. - Business segments
- Exhibit 118: Boston Scientific Corp. - Key news
- Exhibit 119: Boston Scientific Corp. - Key offerings
- Exhibit 120: Boston Scientific Corp. - Segment focus
- 12.5 Canon Inc.
- Exhibit 121: Canon Inc. - Overview
- Exhibit 122: Canon Inc. - Business segments
- Exhibit 123: Canon Inc. - Key offerings
- Exhibit 124: Canon Inc. - Segment focus
- 12.6 Cardinal Health Inc.
- Exhibit 125: Cardinal Health Inc. - Overview
- Exhibit 126: Cardinal Health Inc. - Business segments
- Exhibit 127: Cardinal Health Inc. - Key offerings
- Exhibit 128: Cardinal Health Inc. - Segment focus
- 12.7 F. Hoffmann La Roche Ltd.
- Exhibit 129: F. Hoffmann La Roche Ltd. - Overview
- Exhibit 130: F. Hoffmann La Roche Ltd. - Business segments
- Exhibit 131: F. Hoffmann La Roche Ltd. - Key news
- Exhibit 132: F. Hoffmann La Roche Ltd. - Key offerings
- Exhibit 133: F. Hoffmann La Roche Ltd. - Segment focus
- 12.8 Fresenius SE and Co. KGaA
- Exhibit 134: Fresenius SE and Co. KGaA - Overview
- Exhibit 135: Fresenius SE and Co. KGaA - Business segments
- Exhibit 136: Fresenius SE and Co. KGaA - Key news
- Exhibit 137: Fresenius SE and Co. KGaA - Key offerings
- Exhibit 138: Fresenius SE and Co. KGaA - Segment focus
- 12.9 General Electric Co.
- Exhibit 139: General Electric Co. - Overview
- Exhibit 140: General Electric Co. - Business segments
- Exhibit 141: General Electric Co. - Key news
- Exhibit 142: General Electric Co. - Key offerings
- Exhibit 143: General Electric Co. - Segment focus
- 12.10 Johnson and Johnson Services Inc.
- Exhibit 144: Johnson and Johnson Services Inc. - Overview
- Exhibit 145: Johnson and Johnson Services Inc. - Business segments
- Exhibit 146: Johnson and Johnson Services Inc. - Key news
- Exhibit 147: Johnson and Johnson Services Inc. - Key offerings
- Exhibit 148: Johnson and Johnson Services Inc. - Segment focus
- 12.11 Koninklijke Philips NV
- Exhibit 149: Koninklijke Philips NV - Overview
- Exhibit 150: Koninklijke Philips NV - Business segments
- Exhibit 151: Koninklijke Philips NV - Key news
- Exhibit 152: Koninklijke Philips NV - Key offerings
- Exhibit 153: Koninklijke Philips NV - Segment focus
- 12.12 Medtronic Plc
- Exhibit 154: Medtronic Plc - Overview
- Exhibit 155: Medtronic Plc - Business segments
- Exhibit 156: Medtronic Plc - Key news
- Exhibit 157: Medtronic Plc - Key offerings
- Exhibit 158: Medtronic Plc - Segment focus
- 12.13 OMRON Corp.
- Exhibit 159: OMRON Corp. - Overview
- Exhibit 160: OMRON Corp. - Business segments
- Exhibit 161: OMRON Corp. - Key news
- Exhibit 162: OMRON Corp. - Key offerings
- Exhibit 163: OMRON Corp. - Segment focus
- 12.14 Siemens AG
- Exhibit 164: Siemens AG - Overview
- Exhibit 165: Siemens AG - Business segments
- Exhibit 166: Siemens AG - Key news
- Exhibit 167: Siemens AG - Key offerings
- Exhibit 168: Siemens AG - Segment focus
- 12.15 Smith and Nephew plc
- Exhibit 169: Smith and Nephew plc - Overview
- Exhibit 170: Smith and Nephew plc - Business segments
- Exhibit 171: Smith and Nephew plc - Key news
- Exhibit 172: Smith and Nephew plc - Key offerings
- Exhibit 173: Smith and Nephew plc - Segment focus
- 12.16 Stryker Corp.
- Exhibit 174: Stryker Corp. - Overview
- Exhibit 175: Stryker Corp. - Business segments
- Exhibit 176: Stryker Corp. - Key news
- Exhibit 177: Stryker Corp. - Key offerings
- Exhibit 178: Stryker Corp. - Segment focus
- 12.17 Zimmer Biomet Holdings Inc.
- Exhibit 179: Zimmer Biomet Holdings Inc. - Overview
- Exhibit 180: Zimmer Biomet Holdings Inc. - Business segments
- Exhibit 181: Zimmer Biomet Holdings Inc. - Key news
- Exhibit 182: Zimmer Biomet Holdings Inc. - Key offerings
- Exhibit 183: Zimmer Biomet Holdings Inc. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 184: Inclusions checklist
- Exhibit 185: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 186: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 187: Research methodology
- Exhibit 188: Validation techniques employed for market sizing
- Exhibit 189: Information sources
- 13.5 List of abbreviations
- Exhibit 190: List of abbreviations
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