How big is the global medical device industry?

How big is the global medical device industry?

About Medical Device Market: In 2020, the global Medical Device market size was USD 309830 million and it is expected to reach USD 381190 million by the end of 2027, with a CAGR of 2.6% between 2021 and 2027.

Which medical device has the highest global market share?

As of 2017, the top medical technology company based on market share was Medtronic (U.S.). At that time Medtronic held 7.4 percent of the overall medical technology market. The company’s hold on medical technology is projected to decline slightly to 6.5 percent by 2024.

How much is the medical technology industry worth?

Overview. The United States remains the largest medical device market in the world: $156 billion (40 percent of the global medical device market in 2017). By 2023, it is expected to grow to $208 billion.

What is the size of the health and medicine market?

The global personalized medicine market size was estimated at USD 493.12 billion in 2020 and is expected to reach USD 512.3 billion in 2021….

Report Attribute Details
Market size value in 2021 USD 512.3 billion
Revenue forecast in 2028 USD 796.8 billion
Growth rate CAGR of 6.2% from 2021 to 2028

How big is the medical equipment market?

According to Precedence Research, the global medical devices market size is expected to hit around US$ 671.49 bn by 2027, with a CAGR of 5.2% from 2020 to 2027. OTTAWA, June 30, 2021 (GLOBE NEWSWIRE) — The global medical devices market size accounted at US$ 447.63 billion in 2019.

Is the healthcare industry growing?

Employment in healthcare occupations is projected to grow 15 percent from 2019 to 2029, much faster than the average for all occupations, adding about 2.4 million new jobs. This projected growth is mainly due to an aging population, leading to greater demand for healthcare services.

Why is the medical device industry growing?

The factors credited with the dominant position of the market are the presence of key players in the region, strong healthcare infrastructure, rapid adoption of advanced medical technologies, and favorable regulation surrounding the approval of these devices will boost the growth of the market during the forecast.

Which is the No 1 industry in the world?

Telecommunication. One of the biggest industries in the world in 2021 is telecommunications. The rise of work-from-home trends and in-house entertainment have resulted in a surge in data traffic. The industry is the lifeline for millions of small businesses and individuals working remotely or online.

What industries bring in the most money?

The 10 Most Profitable Industries in the US

  • Retirement & Pension Plans in the US.
  • Commercial Banking in the US.
  • Life Insurance & Annuities in the US.
  • Software Publishing in the US.
  • Portfolio Management in the US.
  • Health & Medical Insurance in the US.
  • Property, Casualty and Direct Insurance in the US.
  • Trusts & Estates in the US.

How big is the global medical device market?

Medical Devices Market Size. 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%.

How big is the rurbished medical equipment market?

Refurbished Medical Equipment Companies: 1 Johnson & Johnson (US) 2 First Source, Inc (U.S.) 3 Soma Technology (U.S.) 4 Toshiba Medical System (Japan) 5 GE Healthcare (US) 6 Stryker Corporation (US) 7 Phillips Healthcare (Netherlands) 8 Siemens Healthcare (Germany) 9 Agito Medical (Denmark) 10 DMS Topline (U.S.)

Which is the best report on the medical device market?

The global medical devices market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, products, and end users. Besides this, it offers insights into the market trends and highlights key industry developments.

Which is the fastest growing segment in the medical device market?

Going forward, the respiratory monitors market segment is expected to be the fastest growing segment in the remote patient monitoring devices and equipment market, at a CAGR of 18.2% during 2019-23. The orthopedic devices market is further segmented by type of device into a) Joint Reconstruction Devices And Equipment