The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Medical Equipment Global Market Report 2024, the medical equipment market is expected to show promising growth in the forecast period.

Current Landscape and Projections

• The medical equipment market has experienced robust growth in recent years.
• From $709.55 billion in 2023, it’s projected to reach $775.42 billion in 2024, with a CAGR of 9.3%.
• This growth is attributed to increased healthcare expenditure, economic growth in emerging markets, and a surge in healthcare facilities and surgical procedures.

Anticipated Growth and Contributing Factors

• The market is expected to soar to $1,077.6 billion by 2028, boasting a CAGR of 8.6%.
• Factors driving this growth include an aging population, escalating chronic diseases, and government support.
• Key trends in this period encompass technological advancements, expansion of manufacturing facilities, partnerships, and a focus on cardiovascular devices and hybrid imaging technologies.

Surge In Cardiovascular Disease Prevalence Drives Growth

• Cardiovascular diseases are poised to fuel market growth.
• The prevalence of conditions like atherosclerosis and blood clots necessitates medical equipment for prevention, diagnosis, and treatment.
• Heart disease alone claimed 695,000 lives in the US in 2021, emphasizing the market’s potential for growth.

View More On The Medical Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/medical-equipment-global-market-report

Major Players in the Arena

• Leading companies in the medical equipment market include Medtronic Inc, Abbott Laboratories, Johnson & Johnson, and more.
• Innovation is key, with companies like Stryker Corporation introducing groundbreaking products such as the EasyFuse Dynamic Compression System.

Innovative Easyfuse Dynamic Compression System

• The EasyFuse system offers advanced fixation in foot and ankle surgeries.
• Launched by Stryker Corporation, it simplifies procedures, reduces surgical waste, and ensures consistent implant strength.

Segmentation for Market Understanding

1. By Type: Includes In-Vitro Diagnostics, Dental Equipment, Ophthalmic Devices, and more.
2. By Type of Expenditure: Segregated into Public and Private sectors.
3. By Product: Categorized as Instruments and Equipment, or Disposables and Consumables.
4. By End User: Encompasses Hospitals, Homecare, Diagnostic Centers, and Other End Users.

Regional Insights

• North America emerged as the largest region in the global medical equipment market in 2023.

Conclusion

The medical equipment market is on an upward trajectory, driven by various factors including technological advancements, demographic shifts, and strategic collaborations. With a burgeoning demand for healthcare services worldwide, the industry is poised for continued growth and innovation. As major players continue to invest in research and development, the landscape of medical equipment will undoubtedly evolve to meet the ever-changing needs of healthcare providers and patients alike.

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