The global medical device market is expected to reach an estimated $409.5 billion by 2023, and it is forecast to grow at a CAGR of 4.5% from 2018 to 2023

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Aug 22, 2018, 14:52 ET

NEW YORK, August 22, 2018 /PRNewswire/ -- Trends, opportunities and forecast in medical device market to 2023 by application, (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), by function, (diagnostic and monitoring, therapeutic, surgical and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World)

Read the full report: https://www.reportlinker.com/p05380672

The future of the global medical device market looks good with opportunities in public and private hospitals. The global medical device market is expected to reach an estimated $409.5 billion by 2023, and it is forecast to grow at a CAGR of 4.5% from 2018 to 2023. The major drivers for the growth of this market are healthcare expenditure, technological development, aging population, and chronic diseases.

Emerging trends which have a direct impact on the dynamics of the medical device industry include the changing medical technology landscape, software as a differentiator in medical devices, and design and manufacturing of patient portable and smaller devices.

Global Medical Device Market Trends
Global Medical Device Market Forecast Growth Opportunities for the Global Medical Device Market by Region

The study includes the medical device market size, and forecast for the global medical device market through 2023, segmented by application, function, and region, as follows:

Medical Device Market by Application [Value ($ Billion) from 2012 to 2023]:
Surgical and Infection Control Devices General Medical Devices Cardiovascular Devices Orthopedic Devices Home Healthcare Devices Other Devices

Medical Device Market by Function [Value ($Billion) from 2012-2023]:
Diagnostic and Monitoring Therapeutic Surgical Other

Medical Device Market by Region [Value ($ Billion) from 2012 to 2023]:
North America United States Canada Mexico Europe Germany France United Kingdom Italy Spain APAC Japan China India ROW Brazil
Some of the medical device companies profiled in this report include Medtronic Public Limited Company, Johnson & Johnson, General Electric Company, Siemens AG, and Cardinal Health Inc. and others.

On the basis of comprehensive research, Lucintel forecasts that the orthopedic device segment will show above average growth during the forecast period.

By function type, the global medical device market is segmented into diagnostic and monitoring, therapeutic, surgical, and others. The surgical segment is expected to remain the largest segment in the forecast.

North America is expected to remain the largest market during the forecast period mainly due to a large target patient pool coupled with a high adoption rates for advanced treatments in this region.

Some of the features of "Medical Device Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global medical device market size estimation in terms of value ($B) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
Segmentation analysis: Global medical device market size by various applications such as application, and function in terms of value and volume shipment.
Regional analysis: Global medical device market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of medical device in the medical device market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of medical device in the medical device market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

This report addresses the following key questions:
Q.1. What are some of the most promising, high growth opportunities for the global medical device market by application, (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), by function, (diagnostic and monitoring, therapeutic, surgical and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this medical device market?
Q.5. What are the business risks and competitive threats in this medical device market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the medical device market?
Q.8. What are the new developments in the medical device market and which companies are leading these developments?
Q.9. Who are the major players in this medical device market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this medical device market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last 5 years in this medical device market?

Read the full report: https://www.reportlinker.com/p05380672

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