Medical Technologies Market size is set to grow by USD 313 bn from 2023-2027, Abbott Laboratories, B. Braun … – PR Newswire

NEW YORK, March 13, 2024 /PRNewswire/ --The global medical technologies market size is estimated to grow by USD 313bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.3% during the forecast period. The major Companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Medical Technologies Market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, B. Braun Melsungen AG, Baxter International Inc., Becton Dickinson and Co., Boston Scientific Corp., Canon Inc., F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, General Electric Co., Johnson and Johnson Services Inc., Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corp., Olympus Corp., OMRON Corp., Siemens AG, Smith and Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc., Cardinal Health Inc..

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Medical Technologies Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 - 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.3%

Market growth 2023-2027

USD 313 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

7.34

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key countries

US, Germany, France, China, and Japan

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Market Segmentation by Application

In the 21st century, the medical technologies market experiences significant growth, driven by economic expansion, aging populations, and health initiatives. The Act 21st Century Cures facilitates innovation in diagnostic and therapeutic devices. The COVID-19 vaccine development relies on advanced medical technologies like CT scans. Construction of medical facilities continues, while data security becomes crucial with increasing database usage for patient records, such as those related to diabetes and glucose monitoring via continuous monitors. Dublin hosts major medical technology conferences. The Chinese economy's growth fuels demand for medical devices. Data breaches pose threats to email communications containing sensitive medical information. Food technology innovations intersect with medical devices, such as insulin pumps.

Factors influcing the market

Market Sizing

Advanced medical technologies refer to innovative solutions and tools in the healthcare sector. These include advanced imaging technologies like MRI and CT scans, as well as wearable devices such as fitness trackers and smartwatches. Health monitoring devices, like blood glucose monitors and blood pressure cuffs, are also essential medical technologies. Genomics and precision medicine are emerging areas, utilizing technology to provide personalized healthcare. Patient-centric care and value-based care models are being prioritized, with technologies like telehealth and AI facilitating remote consultations and improved care efficiency.

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Table of Contents:

1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation by Product Type 7 Market Segmentation by Distribution Channel 8 Customer Landscape 9 Geographic Landscape 10 Drivers, Challenges, and Trends 11 Company Landscape 12 Company Analysis 13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [emailprotected] Website: http://www.technavio.com/

SOURCE Technavio

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Medical Technologies Market size is set to grow by USD 313 bn from 2023-2027, Abbott Laboratories, B. Braun ... - PR Newswire