The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest medical equipment market share.

The global medical equipment market is expected to grow from $639.75 billion in 2022 to $695.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The medical equipment market is expected to grow to $922.39 billion in 2027 at a CAGR of 7.3%.

Major Driver In The Medical Equipment Market ­– Rise In Sedentary Jobs, Busy Lifestyles, And Changing Consumer Preferences
Chronic disease prevalence is anticipated to climb by 57% globally by 2020, according to the World Health Organisation. This is driving up demand for medical devices used in the diagnosis, prognosis, and treatment of a variety of ailments, as well as demand for medical equipment. These factors are projected to expand the worldwide patient pool, propelling the market throughout the forecast period.

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Key Medical Equipment Market Segments
1) By Type: In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Hospital Supplies, Surgical Equipment, Orthopedic Devices, Patient Monitoring Devices, Diabetes Care Devices, Nephrology And Urology Devices, ENT Devices, Anesthesia And Respiratory Devices, Neurology Devices, Wound Care Devices
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Homecare, Diagnostics Centers, Other End Users

Recent Medical Equipment Market Trend – Integrating Medical Device Data With EMR
Healthcare professionals may now access device performance and patient data, which is assisting them in improving patient monitoring and overall care quality. To improve transparency and collaboration, some companies are integrating medical device data with EMR (Electronic Medical Records). Patient data volumes are increasing as consumer wearables become more widespread, and firms are investing in data management, warehousing, and security solutions. Medtronic, for example, created a solution to complement their cardiac devices, allowing doctors to securely transfer device data and monitor vital health indicators in their patients.

Medical Equipment Market Prominent Players
Major players in the medical equipment market are Medtronic Inc., Abbott Laboratories, Johnson & Johnson, Cardinal Health, Inc., Becton Dickinson, Siemens AG, STRYKER CORPORATION, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., and Boston Scientific Corporation.

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The Medical Equipment Global Market Report 2023  provides a comprehensive overview on the medical equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Medical equipment is any instrument, apparatus, or machine that is used to prevent, diagnose, or treat illness or disease, or to detect, measure, restore, rectify, or modify the structure or function of the body for health purposes.

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