The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Overview of Market Growth

• Market Size Increase:
  • 2023: $5.37 billion
  • 2024: $6.07 billion
  • CAGR: 13.04%
• Growth Drivers:
  • Advancements in material science
  • Increasing incidences of chronic diseases
  • Aging population
  • Rising awareness

Future Projections

• Expected Growth:
  • 2028: $9.18 billion
  • CAGR: 10.88%
• Growth Drivers:
  • Higher demand for diagnostic equipment
  • Increased awareness for early diagnosis and treatment
  • Rise in use of monitoring devices
• Major Trends:
  • Innovations in pharmacy, diagnostics, surgical products, and interventional procedures

Read More On The Medical Device Technologies Market Report 2024 – https://www.thebusinessresearchcompany.com/report/medical-device-technologies-global-market-report

Rise in Chronic Diseases Fueling Market Growth

• Chronic Diseases Impact:
  • Chronic diseases are long-term and progress slowly
  • Medical devices provide timely and personalized interventions
• Statistics:
  • National Institutes of Health: Population aged 50+ with at least one chronic disease to increase from 71.522 million in 2020 to 142.66 million
• Outcome:
  • Increased demand for medical device technologies

Key Players in the Market

• Major Companies:
  • Cardinal Health Inc.
  • Johnson & Johnson
  • Siemens AG
  • Hoffmann-La Roche Ltd.
  • Novartis AG
  • Thermo Fischer Scientific Inc.
  • Abbott Laboratories Inc.
  • Zenith Healthcare
  • 3M Company
  • Medtronic plc
  • Becton Dickinson and Company
  • KONINKLIJKE PHILIPS N.V.
  • Stryker Corporation
  • GE HealthCare Technologies Inc.
  • Baxter International Inc.
  • Boston Scientific Corporation

Technological Advancements

• Minimally Invasive Techniques:
  • Performed with minimal damage compared to traditional surgeries
  • Example:
    • November 2023: Medtronic’s Symplicity Spyral RDN system for hypertension
    • FDA-approved, available in over 70 countries

Johnson & Johnson’s Strategic Acquisition

• Acquisition Details:
  • December 2022: Johnson & Johnson acquired Abiomed Inc. for $16.6 billion
• Impact:
  • Accelerates heart failure devices line
  • Complements existing MedTech products

Market Segmentation

• By Type:
  • Molecular Diagnostics
  • Diagnostic Imaging
  • Non-Invasive Monitoring
  • Drug Delivery
  • Mobility Aid Technologies
  • Micro Fluids and MEMS
  • Bio-Implants
  • Biomaterials
  • Minimal or Non-Invasive Surgery
  • Telemedicine
• By Application:
  • Cardiology
  • Orthopedics
  • Oncology
  • Neurology
  • Respiratory
  • Other Applications
• By End-User:
  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Diagnostics Centers
  • Research Organizations
  • Other End Users

Regional Insights

• Largest Market:
  • North America in 2023
• Regions Covered:
  • Asia-Pacific
  • Western Europe
  • Eastern Europe
  • North America
  • South America
  • Middle East
  • Africa

The medical device technologies market is poised for significant growth driven by technological advancements, increasing demand for diagnostic and monitoring devices, and rising incidences of chronic diseases. With key players continuously innovating and expanding their capabilities, the future of this market looks promising.

Request for A Sample Of The Global Medical Device Technologies Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=13877&type=smp