The Medical Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Medical Equipment Market?
The market size for medical equipment has seen significant growth lately. It is expected to expand from $764.67 billion in 2024 to $842.49 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.2%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Medical Equipment Industry?
The global market for medical equipment is predicted to increase to $1183.02 billion by the year 2029, with a compound annual growth rate (CAGR) of 8.9%.
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What are the Key Growth Drivers Fueling the Medical Equipment Market?
The key drivers in the medical equipment market are:
• Rapid growth in the elderly population
• Increasing prevalence of chronic diseases
• Government support for the medical equipment sector
• Development and integration of new technological solutions in medical equipment
Global Market Segmentation: Identifying Major Medical Equipment Industry Segments
The medical equipment market covered in this report is segmented –
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, Others
2) By Type Of Expenditure: Public, Private
3) By Product: Instruments And Equipment, Disposables And Consumables
4) By End User: Hospitals And Clinics, Homecare And Diagnostic Centers, Other End Users
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What are the Emerging Trends Shaping the Future of the Medical Equipment Market?
The key trends in the medical equipment market are:
• Developing new technological solutions is a key emerging trend in the medical equipment market.
• There is a growing focus on expanding medical equipment manufacturing facilities.
• Trends indicate an increased emphasis on partnerships and collaborations in this industry.
• Manufacturing of cardiovascular devices and development of hybrid imaging technologies are upcoming trends in the market.
Who Are the Top Competitors & Leading Players in the Medical Equipment Market?
Major companies in the medical equipment market are:
• Medtronic Inc
• Abbott Laboratories
• Johnson & Johnson
• Siemens AG
• Becton Dickinson and Company(BD)
• STRYKER CORPORATION
• Cardinal Health
• Danaher Corporation
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• SCHILLER Healthcare India Pvt. Ltd
• GE Healthcare
• Covidien Healthcare India Private Limited
• Philips Healthcare India
• Fisher & Paykel Healthcare India Private Limited
• Smiths Medical India Pvt Ltd
• Agappe Diagnostics Ltd
• ARKRAY Healthcare Pvt. Ltd
• Accord Medical Products Private Limited
• Shinva Medical Instrument Company Limited
• Shandong WeiGao Group Medical Polymer Company Limited
• Lepu Medical Technology Company (Beijing) Co., Ltd
• Yuwell
• Jiangsu Yuyue Medical Equipment & Supply Co., Ltd
• Shanghai Runda Medical Technology Co., Ltd
• Terumo Corporation
• Olympus Medical Systems Corporation
• Canon Medical Systems Corporation
• Hitachi Group
• Nihon Koden Corporation
• Sanko Manufacturing Co., Ltd
• Fukuda Denshi
• Metran Co. Ltd
• Clarity Medical
• Welcare Industries S.P.A
• F.L. Medical S.r.l
• Empire MEDICAL UK LTD
• Europlaz Technologies Ltd
• Alfa-Med LLC
• Medplant LLC
• Medical-Lomza Sp. z o.o.
• P.H.U. Medical
• ProVeterináre
• Panop CZ
• Baxter
• SunMed
• Beckman Coulter
• Draegerwerk AG
• Getinge Group
• Masimo
• Teleflex Inc
• Nipro Medical Ltda
• LINET Brazil
• Fotoptica Ltda
• Leistung Engineering Pvt. Ltd
• Saudi Mais Co. for Medical Products (SMMP)
• Life Pulse Medical Co
• Watan
• AlKawashef
• 3BY Ltd
• Qatari German Medical Devices Co
• Israeli Hospitals Ltd
• CAPS Medical
• Amana Healthcare (Pty) Ltd
• CapeRay
• TiTaMED (Pty) Ltd
• Sinapi Biomedical
• Egyptian Medical And Environment Group
• ResMed Inc.
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the global medical equipment market in 2024
