The global medical devices market size is expected to reach over $922.39 billion in 2027 at a CAGR of 7.3%!
Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These changes are related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes. For instance, according to cookieyed data 2021, in the US, PwC reported that 68% of 200 businesses surveyed intended to spend between $1 million and $10 million to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. Additionally, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts a strain on investments relating to new product development, thereby affecting the growth of the medical equipment market.
Medical Equipment Market Coverage
The medical devices market consists of sales of medical equipment or devices and related services by entities (organizations, sole traders and partnerships) that manufacture medical equipment or devices used in the diagnosis, treatment and monitoring of medical conditions. The medical equipment market is segmented into 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. Only goods and services traded between entities or sold to end consumers are included.
The Business Research Company covers 93 markets overall in the medical equipment market providing global market numbers, market growth, market-specific drivers and restraints, trends, and other market specific information. The medical equipment market is segmented in the following manner:
- 1. In-Vitro Diagnostics
The in-vitro diagnostics devices and equipment market consists of sales of in-vitro diagnostic equipment and related services by entities (organizations, sole traders and partnerships) that produce in-vitro diagnostics equipment. In-vitro diagnostics are tests performed on samples collected from human body such as tissues and blood. The in-vitro diagnostics equipment market is segmented into point-of-care diagnostics devices and equipment; immunochemistry diagnostic devices and equipment; clinical chemistry diagnostics devices and equipment; molecular diagnostics devices and equipment; microbiology diagnostic devices and equipment; hemostasis diagnostic devices and equipment; hematology diagnostic devices and equipment; immunohematology diagnostic devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The In-Vitro Diagnostics Market is sub-segmented into-
- 1.1. Point-of-Care Diagnostics Devices And Equipment
- 1.2. Immunochemistry Diagnostic Devices And Equipment
- 1.3. Immunochemistry Diagnostic Devices And Equipment
- 1.4. Clinical Chemistry Diagnostics Devices And Equipment
- 1.5. Molecular Diagnostics Devices And Equipment
- 1.6. Molecular Diagnostics Devices And Equipment
- 1.7. Microbiology Diagnostic Devices And Equipment
- 1.8. Hemostasis Diagnostic Devices And Equipment
- 1.9. Hematology Diagnostic Devices And Equipment
- 1.10. Immunohematology Diagnostic Devices And Equipment
- 1.11. Cancer Diagnostics
- 1.12. Biopsy Devices
- 1.13. Allergy Diagnostics
- 1.14. Multiplex Assays
- 2. Dental Equipment And Supplies
The dental equipment and supplies market consists of sales of dental equipment and related services by entities (organizations, sole traders and partnerships) that produce dental equipment and supplies. The market is segmented into therapeutic dental equipment; general dental devices and equipment; dental diagnostic imaging devices and equipment; dental surgical devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Dental Equipment And Supplies Market is sub-segmented into-
- 2.1. Therapeutic Dental Equipment
- 2.2. General Dental Devices And Equipment
- 2.3. Dental Diagnostic Imaging Devices And Equipment
- 2.4. Dental Diagnostic Imaging Devices And Equipment
- 2.5. Dental Surgical Devices And Equipment
- 2.6. Dental Implants
- 3. Ophthalmic Devices
The ophthalmic devices market consists of sales of ophthalmic devices and related services by entities (organizations, sole traders and partnerships) that produce ophthalmic devices used in the diagnosis and treatment of eye related diseases. The market is segmented into vision care devices and equipment; cataract surgery devices and equipment; refractive surgery devices and equipment; diagnostic and monitoring ophthalmic devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Ophthalmic Devices Market is sub-segmented into-
- 3.1. Vision Care Devices And Equipment
- 3.2. Cataract Surgery Devices And Equipment
- 3.3. Refractive Surgery Devices And Equipment
- 3.4. Diagnostic And Monitoring Ophthalmic Devices And Equipment
- 4. Diagnostic Imaging Equipment
The diagnostic imaging equipment market consists of sales of diagnostic imaging equipment and related services by entities (organizations, sole traders and partnerships) that produce diagnostic imaging equipment used in diagnosis of various diseases. The market is segmented into x-ray systems devices and equipment; ultrasound systems devices and equipment; computed tomography (ct) scanners devices and equipment; magnetic resonance imaging systems devices and equipment; cardiovascular monitoring and diagnostic devices and equipment; nuclear imaging devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Diagnostic Imaging Equipment Market is sub-segmented into-
- 4.1. X-Ray Systems Devices And Equipment
- 4.2. Ultrasound Systems Devices And Equipment
- 4.3. Computed Tomography (CT) Scanners Devices And Equipment
- 4.4. Magnetic Resonance Imaging Systems Devices And Equipment
- 4.5. Cardiovascular Monitoring And Diagnostic Devices And Equipment
- 4.6. Nuclear Imaging Devices And Equipment
- 4.7. Breast Imaging Devices
- 4.8. Brain And Neuroimaging Devices
- 4.9. 3D Medical Imaging Devices
- 5. Cardiovascular Devices
The cardiovascular devices market consists of sales of cardiovascular devices and related services by entities (organizations, sole traders and partnerships) that produce cardiovascular devices used in diagnosing and treating cardiovascular diseases. The market is segmented into cardiovascular surgery devices and equipment; cardiac rhythm management (CRM) devices and equipment; interventional cardiology devices and equipment; defibrillator devices and equipment; peripheral vascular devices and equipment; prosthetic heart valve devices and equipment; electrophysiology devices and equipment; cardiac assist devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Cardiovascular Devices Market is sub-segmented into-
- 5.1. Cardiovascular Surgery Devices And Equipment
- 5.2. Cardiac Rhythm Management (CRM) Devices And Equipment
- 5.3. Interventional Cardiology Devices And Equipment
- 5.4. Defibrillator Devices And Equipment
- 5.5. Peripheral Vascular Devices And Equipment
- 5.6. Prosthetic Heart Valve Devices And Equipment
- 5.7. Electrophysiology Devices And Equipment
- 5.8. Cardiac Assist Devices And Equipment
- 5.9. Coronary Atherectomy Devices
- 5.10. Resuscitation Devices
- 6. Hospital Supplies
The hospital supplies market consists of sales of hospital supplies and related services by entities (organizations, sole traders and partnerships) that produce hospital supplies. This market is segmented into disposable hospital supplies; sterilization equipment and disinfectants; mobility aids and transportation equipment; operating room equipment. Only goods and services traded between entities or sold to end consumers are included.
The Hospital Supplies Market is sub-segmented into-
- 6.1. Disposable Hospital Supplies
- 6.2. Sterilization Equipment And Disinfectants
- 6.3. Mobility Aids And Transportation Equipment
- 6.4. Operating Room Equipment
- 6.5. ICU Beds
- 6.6. Injection Pen
- 7. Surgical Equipment
The surgical equipment market consists of sales of surgical equipment and related services by entities (organizations, sole traders and partnerships) that produce surgical equipment used during surgeries. This market is segmented into surgical sutures and staples; handheld surgical devices and equipment; electrosurgical devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Surgical Equipment Market is sub-segmented into-
- 7.1. Surgical Sutures And Staples
- 7.2. Handheld Surgical Devices And Equipment
- 7.3. Electrosurgical Devices And Equipment
- 7.4. Robotic Surgery Devices
- 7.5. Minimally Invasive Surgical Instruments
- 8. Orthopedic Devices
The orthopedic devices market consists of sales of orthopedic devices and related services by entities (organizations, sole traders and partnerships) that produce orthopedic devices used in treating bone abnormalities. This market is segmented into joint reconstruction devices and equipment; spinal surgery devices and equipment; trauma fixation devices and equipment; orthobiologics devices and equipment; arthroscopy devices and equipment; orthopedic braces and support devices and equipment; craniomaxillofacial (CMF) devices and equipment; orthopedic prosthetics; orthopedic accessories. Only goods and services traded between entities or sold to end consumers are included.
The Orthopedic Devices Market is sub-segmented into-
- 8.1. Joint Reconstruction Devices And Equipment
- 8.2. Spinal Surgery Devices And Equipment
- 8.3. Trauma Fixation Devices And Equipment
- 8.4. Orthobiologics Devices And Equipment
- 8.5. Arthroscopy Devices And Equipment
- 8.6. Orthopedic Braces And Support Devices And Equipment
- 8.7. Craniomaxillofacial (CMF) Devices And Equipment
- 8.8. Orthopedic Prosthetics
- 8.9. Orthopedic Accessories
- 9. Patient Monitoring Devices
The patient monitoring devices market consists sales of patient monitoring devices and related services by entities (organizations, sole traders and partnerships) that produce patient monitoring devices used in monitoring vital health parameters. This market is segmented into fetal and neonatal monitoring devices; weight monitoring and body temperature monitoring devices and equipment; vital parameter monitoring devices and equipment; remote patient monitoring devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Patient Monitoring Devices Market is sub-segmented into-
- 9.1. Fetal And Neonatal Monitoring Devices
- 9.2. Weight Monitoring And Body Temperature Monitoring Devices And Equipment
- 9.3. Vital Parameter Monitoring Devices And Equipment
- 9.4. Remote Patient Monitoring Devices And Equipment
- 10. Diabetes Care Devices
The diabetes care devices market consists of sales of diabetes care devices and related services by entities (organizations, sole traders and partnerships) that produce diabetes care devices used to monitor and control blood glucose levels in diabetic patients. This market is segmented into blood glucose test strips; insulin pens, syringes, pumps and injectors; lancing devices and equipment; continuous glucose monitoring devices and equipment; blood glucose meters. Only goods and services traded between entities or sold to end consumers are included.
The Diabetes Care Devices Market is sub-segmented into-
- 10.1. Blood Glucose Test Strips
- 10.2. Insulin Pens, Syringes, Pumps And Injectors
- 10.3. Lancing Devices And Equipment
- 10.4. Continuous Glucose Monitoring Devices And Equipment
- 10.5. Blood Glucose Meters
- 11. Nephrology And Urology Devices
The nephrology and urology devices market consists of sales of nephrology and urology devices and related services by entities (organizations, sole traders and partnerships) that produce nephrology and urology devices used in the diagnosis and treatment of kidney and genitourinary diseases. This market is segmented into dialysis devices and equipment; urinary stone treatment devices and equipment; urinary incontinence & pelvic organ prolapse devices and equipment; benign prostatic hyperplasia (BPH) treatment devices and equipment; endoscopy devices and equipment. Only goods and services traded between entities or sold to end consumers are included.
The Nephrology And Urology Devices Market is sub-segmented into-
- 11.1. Dialysis Devices And Equipment
- 11.2. Urinary Stone Treatment Devices And Equipment
- 11.3. Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment
- 11.4. Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment
- 11.5. Endoscopy Devices And Equipment
- 12. ENT Devices –
The ENT devices market consists of sales of ENT devices and related services by entities (organizations, sole traders and partnerships) that produce ENT devices used in diagnosis and treatment of ear, nose and throat diseases. This market is segmented into hearing aid devices and equipment; hearing diagnostic devices and equipment; ENT surgical devices and equipment; hearing implants; voice prosthesis devices and equipment; nasal splints. Only goods and services traded between entities or sold to end consumers are included.
The ENT Devices Market is sub-segmented into-
- 12.1. Hearing Aid Devices And Equipment
- 12.2. Hearing Diagnostic Devices And Equipment
- 12.3. ENT Surgical Devices And Equipment
- 12.4. Hearing Implants
- 12.5. Voice Prosthesis Devices And Equipment
- 12.6. Nasal Splints
- 13. Anesthesia And Respiratory Devices
The anesthesia and respiratory devices market consists of sales of anesthesia and respiratory devices and related services by entities (organizations, sole traders and partnerships) that produce anesthesia and respiratory devices used in diagnosis and treatment of respiratory diseases. This market includes respiratory devices used to provide medication in medical conditions such as asthma, cystic fibrosis, acute cute respiratory distress syndrome and others. The anesthesia and respiratory devices market is segmented into respiratory devices and equipment (therapeutic and diagnostic); anesthesia machines; anesthesia disposables; respiratory disposables. Only goods and services traded between entities or sold to end consumers are included.
The Anesthesia And Respiratory Devices Market is sub-segmented into-
- 13.1. Respiratory Devices And Equipment (Therapeutic And Diagnostic)
- 13.2. Anesthesia Machines
- 13.3. Anesthesia Disposables
- 13.4. Respiratory Disposables
- 14. Neurology Devices –
The neurology devices market consists of sales of neurology devices and related services by entities (organizations, sole traders and partnerships) that produce neurology devices to diagnose and treat neurological diseases. This market is segmented into cerebrospinal fluid management (CSF) devices and equipment; interventional neurology devices and equipment; neurosurgery devices and equipment; neurostimulation devices. Only goods and services traded between entities or sold to end consumers are included.
The Neurology Devices Market is sub-segmented into-
- 14.1. Cerebrospinal Fluid Management (CSF) Devices And Equipment
- 14.2. Interventional Neurology Devices And Equipment
- 14.3. Neurosurgery Devices And Equipment
- 14.4. Neurostimulation Devices
- 15. Wound Care Devices –
The wound care devices market consists of sales of wound care devices and related services by entities (organizations, sole traders and partnerships) that produce wound care devices used to prevent wound infections and promote wound healing. This market is segmented into traditional adhesive dressings; negative-pressure wound therapy (NPWT); traditional gauze dressings; advanced wound care devices.
Only goods and services traded between entities or sold to end consumers are included.
The Wound Care Devices Market is sub-segmented into-
- 15.1. Traditional Adhesive Dressings
- 15.2. Negative-pressure Wound Therapy (NPWT)
- 15.3. Traditional Gauze Dressings
- 15.4. Advanced Wound Care Devices
- 16. Gastrointestinal Devices
The gastrointestinal devices market consists of sales of gastrointestinal devices and related services by entities (organizations, sole traders and partnerships) that manufacture gastrointestinal devices. These devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract. Some of these products include gastroscope, enteroscope, ultrasound endoscope. Only goods and services traded between entities or sold to end consumers are included.
- 17. Medical Lasers
The medical lasers market consists of sales of medical lasers and related services by entities (organizations, sole traders and partnerships) that manufacture medical lasers. Medical lasers are devices that treat or remove tissues using precisely focused light sources. This market is segmented into ophthalmic medical lasers; dermatology medical lasers; gynecology medical lasers; dentistry medical lasers; urology medical lasers; cardiovascular medical lasers. Only goods and services traded between entities or sold to end consumers are included.
The Medical Lasers Market is sub-segmented into-
- 17.1. Ophthalmic Medical Lasers
- 17.2. Dermatology Medical Lasers
- 17.3. Gynecology Medical Lasers
- 17.4. Dentistry Medical Lasers
- 17.5. Urology Medical Lasers
- 17.6. Cardiovascular Medical Lasers
- 18. Drug Delivery Devices
The drug delivery devices market consists of sales of medical devices and related services by entities (organizations, sole traders and partnerships) that are used for delivering specific drugs to a specific part of the body to cure diseases. Drug delivery devices used in various patient care settings such as hospitals, diagnostic centers, clinics and home care settings are included in this market. This market is segmented into injectable drug delivery devices; liposomal drug delivery devices; implantable drug delivery devices; transdermal drug delivery patches; other drug delivery devices. Only goods and services traded between entities or sold to end consumers are included.
The Drug Delivery Devices Market is sub-segmented into-
- 18.1. Injectable Drug Delivery Devices
- 18.2. Liposomal Drug Delivery Devices
- 18.3. Implantable Drug Delivery Devices
- 18.4. Transdermal Drug Delivery Patches
- 18.5. Other Drug Delivery Devices
- 19. Oncology Devices
The oncology devices market consists of sales of oncology devices and related services by entities (organizations, sole traders and partnerships) that manufacture oncology devices. Oncology devices are medical devices used in the diagnosis, management and treatment of cancer. This market is segmented into interventional oncology devices and radiotherapy devices. Only goods and services traded between entities or sold to end consumers are included.
The Oncology Devices Market is sub-segmented into-
- 19.1. Interventional Oncology Devices
- 19.2. Radiotherapy Devices
- 20. Wearable Medical Devices
The wearable medical devices market consists of sales of wearable medical devices and related services by entities (organizations, sole traders and partnerships) that manufacture wearable medical devices. Wearable medical devices are autonomous medical devices that can be worn by a person and perform functions such as medical monitoring and support. Only goods and services traded between entities or sold to end consumers are included.
- 21. 3D Printed Medical Devices
The 3D printed medical devices market consists of sales of 3D printed medical devices and related services by entities (organizations, sole traders and partnerships) that manufacture 3D printed medical devices. 3D printed medical devices are artificial devices that replace a missing body part or biological structure and are manufactured by laying successive layers of material using inputs from a digital 3D model. These devices include 3D printed prosthetics and implants. Only goods and services traded between entities or sold to end consumers are included.
The 3D Printed Medical Devices Market is sub-segmented into-
- 21.1. 3D Printed Prosthetics
- 21.2. 3D Printed Implants
- 22. Influenza Diagnostic
The influenza diagnostic market consists of sales of diagnostic tests used to diagnose influenza including viral culture, serology, rapid antigen testing, reverse transcription-polymerase chain reaction (RT-PCR), immunofluorescence assays, and rapid molecular assays. Influenza, commonly known as flu, is a contagious illness caused by the influenza virus. Three varieties of this virus affect people: type A, type B, and type C. Common symptoms include fever, sore throat, cough, body ache, fatigue, and headache. The market consists of revenues generated by establishments conducting the diagnostics tests for influenza virus detection.
- 23. Autoimmune Disease Diagnosis
The market for autoimmune disease diagnosis consists of sales of diagnostic assay kits, reagents, consumables and instruments used for the diagnosis of autoimmune diseases. Autoimmune diseases are the diseases in which the production of antibodies takes place in the body which attacks and destroys own healthy cells in the body. These include Crohn's disease, rheumatoid arthritis, Hashimoto’s disease, multiple sclerosis, Grave’s disease, psoriasis, coeliac disease, type 1 diabetes, lupus and inflammatory bowel syndrome, and are diagnosed by immunological tests.
- 24. Medication Adherence
The medication adherence market consists of sales of medication adherence hardware systems and software applications. Medication adherence systems check if a person follows medication recommended by a healthcare provider, whether patients take their medications as prescribed, as well as whether they continue to take a prescribed medication. Medication adherence hardware and software help medical personnel with the patient’s intake to prescribed medication to reduce cases of worsening disease and deaths and decrease healthcare costs. The market consists of revenue generated by the companies manufacturing the medical adherence hardware systems and software solutions by the sales of these products.
- 25. Food Testing Kits
The food testing kits market consists of sales of food testing kits by entities (organizations, sole traders, and partnerships) that are specifically designed for testing and detection of pathogens, meat species, GMOs, allergen, and mycotoxin in the food. These kits are more efficient and effective to test the integrity and quality of foods. Food testing is important for standard quality control and it begins with laboratory or field testing.
- 26. GMO Testing
The GMO testing market consists of sales of GMO testing technologies by entities (organizations, sole traders, and partnerships) that can be used to detect genetically modified organisms in food or feed. GMO testing qualifies and quantifies genetically modified organisms present in the food or feed samples to meet the appropriate national and international controls, performs independent verification to trade in confidence with countries specifying GMO-free products and prevents cross-contamination throughout the supply chain.
- 27. Enteral Feeding Devices
The enteral feeding devices market consists of sales of enteral feeding devices and related products by entities (organizations, sole traders, and partnerships) that are used to provide nutrition by tube feedings through the gastrointestinal (GI) tract. An enteral feeding device is a medical device that is used by people who are unable to take their food by mouth, are unable to swallow safely, or need nutritional supplementation such as bedridden people, cancer patients, neurological disorder patients and severely ill patients even at home that helps them in feeding.
How Can We Help?
The Business Research Company`s Medical Equipment Market Research Practice provides marketing, planning and strategy departments with a wider range of market, business, customer and competitor intelligence services across different segments of the medical equipment industry. The medical equipment market research services and solutions The Business Research Company provides are as follows —
- Medical Equipment Market Sizing, Forecast and Trend Analysis
- Medical Equipment Market Competitor Analysis
- Medical Equipment Market Supply Chain Analysis
- Medical Equipment Market Customer Research
- Medical Equipment Market Partner or Distribution Research
- Medical Equipment Market Entry Strategy Research Study
- Medical Equipment Industry Analysis and Profiling
- Medical Equipment Market Regulations
