Oct 26, 2018   SOURCE: PR NewsWire

Global Medical Devices Market Report 2017-2024 - Market is Expected to Rise with the CAGR of About 5.3%

DUBLIN, Oct. 26, 2018 /PRNewswire/ --

The "Global Medical Devices Market- Technologies, Market share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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Global medical devices market is expected to rise with the CAGR of about 5.3% during forecast period 2017-2024.

Medical devices include apparatus and instruments such as lasers, sutures, orthopedic pins, vascular grafts, pacemakers, intraocular lenses, etc. which are specifically used for diagnostic and therapeutic purposes.

Strategic initiatives taken by various market players is expected to contribute to the growth of global medical devices market during forecast period. According to the official company sources, in 2018, Siemens Healthineers launched Acuson Juniper ultrasound system, a next generation ultrasound system.

The ultrasound system integrates high-end imaging performance and advanced applications with flexible, ergonomic design and lightweight applications which makes it suitable to be used across different clinical segments. Also, in 2017, Abbott Laboratories acquired St. Jude Medical, Inc. with the intent to establish itself as a leader in medical device market. The major aim of this acquisition was for the development of diverse and strong portfolio of medical devices and diagnostic instruments, as per the official company sources.

Further, in 2017, Johnson and Johnson's DePuy Synthes launched a new high definition visualisation system, Purevue. The system comprises of an autoclavable camera embedded with endoscopy sensitive sensor to capture high definition images and is used in minimally invasive endoscopic surgeries, as per the official company sources.

Moreover, in 2018, Roche Diagnostics signed a strategic collaboration with GE Healthcare for the development of digital clinical decision support solutions. The digital platform would improve the treatment for oncology and patient care, as per the official company sources. Such strategic initiatives for the development of advanced medical devices is expected to contribute to the growth of global medical devices market during forecast period.

Rapidly increasing geriatric population to fuel large scale adoption of medical devices

Rapid growth witnessed in geriatric population across the globe is one of the major factor which contributes to the growth of global medical devices market during forecast period. According to the National institute of health (NIH, United States), about 8.5 % of global population i.e. 617 million people were of age 65 and above (geriatric) in 2015.

The geriatric population is expected to reach up to approximately 1.6 billion by the end of 2050. Increasing geriatric population would increase the need and demand for medical devices for diagnosis and treatment of age related diseases such as alzheimers, visual impairment, bone related disorders, etc.

Also, major developed and developing countries are witnessing rapid rise in geriatric population. For instance, as per the Population Reference Bureau (United States), population of China of age 65 years and more was recorded to be around 90 million in 2010. Geriatric population across China is expected to increase and reach up to 300 million by the end of 2050. In addition, geriatric population (more than 65 years) in the United States is expected to get about double and would reach up to 98 million by the end of 2060 as compared to 46 million in 2016. Increasing geriatric population is expected to increase the adoption of medical devices globally which would fuel growth in the global medical devices market during forecast period.

Increasing healthcare spending: Growth promoter

Increasing healthcare spending and expenditure is one of the major factors which promotes the growth of global medical devices market during forecast period. According to the Institute of Health Metrics and Evaluations (United States), health expenditure across the globe is expected to reach to about $18.28 trillion by the end of 2040.

Also, according to the Centers for Medicare and Medicaid Services (United States), in 2015, national healthcare expenditure across the United States was recorded to be around $3.2 trillion. The national healthcare expenditure was increased and reached upto $3.35 trillion in 2016 across United States.

Further, according to the Public Broadcasting service, healthcare spending per person in United States was $10,000 in 2015. This was increased up to nearly $10,345 per person in 2016 across United States. Moreover, healthcare expenditure across India is projected to riseby nearly12% to approx. $195.7 billion by the end of 2018 from $96.3 billion in 2013, as per the India Brand Equity Foundation (IBEF, India).

Increasing healthcare expenditure is expected to enhance the research and development of medical devices that would contribute to the growth of global medical devices market during forecast period. However, product failures and recalls pertaining to medical devices and high cost of medical devices are some of the major factors restraining the growth of global medical devices market during forecast period.

Key Topics Covered:

1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology

2. Market Overview
2.1. Global Medical Devices Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.6. Estimation Analysis
2.7. Strategic Analysis
2.8. Competitive Analysis
2.9. Strategic Recommendations & Key Conclusions

3. Market Determinants
3.1. Market Drivers
3.1.1. Rising Prevalence Of Chronic Diseases
3.1.2. Rapid Increase In Geriatric Population
3.1.3. Increasing Healthcare Spending And Expenditure
3.1.4. Increasing Adoption Of Minimally Invasive Techniques
3.2. Market Restraints
3.2.1. Product Failures And Recalls
3.2.2. High Cost Of Devices
3.3. Market Opportunities
3.3.1. Increasing Medical Tourism
3.3.2. Technological Advancements In Medical Devices
3.3.3. Increasing Government Spending For Development Of Healthcare Infrastructure
3.4. Market Challenges
3.4.1. Regulatory Compliance

4. Global Medical Devices Market By Technology
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
4.5.1. Global Drug Delivery Devices Market
4.5.1.1. Adoption Scenario & Market Determinants
4.5.1.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.1.3. Key Conclusions
4.5.1.4. Market Sub-Segments
4.5.1.4.1. Infusion Systems And Injectables
4.5.1.4.2. Inhalation Systems
4.5.1.4.3. Needle-Free Injections/Transdermal Systems And Others
4.5.2. Global Urology And Renal Market
4.5.2.1. Adoption Scenario & Market Determinants
4.5.2.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.2.3. Key Conclusions
4.5.2.4. Market Sub-Segments
4.5.2.4.1. Incontinence Devices
4.5.2.4.2. Lithotripters
4.5.2.4.3. Renal Dialysis Devices
4.5.3. Global In Vitro Diagnostics Market
4.5.3.1. Adoption Scenario & Market Determinants
4.5.3.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.3.3. Key Conclusions
4.5.3.4. Market Sub-Segments
4.5.3.4.1. Clinical Chemistry
4.5.3.4.2. Hematology/Hemostasis
4.5.3.4.3. Immunochemistry
4.5.3.4.4. Molecular Diagnostics
4.5.3.4.5. Point-Of-Care Testing
4.5.4. Global Orthopedics And Spine Market
4.5.4.1. Adoption Scenario & Market Determinants
4.5.4.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.4.3. Key Conclusions
4.5.4.4. Market Sub-Segments
4.5.4.4.1. Orthopedic Robotic Systems
4.5.4.4.2. Reconstructive Implants
4.5.4.4.3. Spinal Implants
4.5.4.4.4. Trauma Fixation Devices
4.5.5. Global Imaging Devices Market
4.5.5.1. Adoption Scenario & Market Determinants
4.5.5.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.5.3. Key Conclusions
4.5.5.4. Market Sub-Segments
4.5.5.4.1. Clinical/Point Of Care
4.5.5.4.2. Computed Tomography (Ct)
4.5.5.4.3. Interventional Radiology
4.5.5.4.4. Laser Imaging
4.5.5.4.5. Magnetic Resonance Imaging (Mri) Systems
4.5.5.4.6. Nuclear Medicine/Positron Emission Tomography (Pet)
4.5.5.4.7. Ultrasound Systems
4.5.5.4.8. X-Ray Systems
4.5.6. Global Cardiovascular Devices Market
4.5.6.1. Adoption Scenario & Market Determinants
4.5.6.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.6.3. Key Conclusions
4.5.6.4. Market Sub-Segments
4.5.6.4.1. Cardiac Rhythm Management
4.5.6.4.2. Transcatheter Technologies
4.5.7. Global Endoscopy Market
4.5.7.1. Adoption Scenario & Market Determinants
4.5.7.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.7.3. Key Conclusions
4.5.7.4. Market Sub-Segments
4.5.7.4.1. Flexible Endoscopes
4.5.7.4.2. Rigid Endoscopes

5. Competitive Landscape
5.1. Key Strategies
5.1.1. List Of Mergers And Acquisitions
5.1.2. List Of Joint Ventures
5.1.3. List Of Product Launches
5.1.4. List Of Partnerships

6. Geographic Analysis
6.1. Decision Support Database & Estimation Methodology
6.2. Comparative Analysis Across Market Segments
6.3. Opportunity Matrix
6.4. Global Medical Devices Market By Region 2015-2024

7. Company Profiles

    --  Abbott Laboratories (U.S.)
    --  Baxter International (U.S.)
    --  Beckman Coulter (U.S.)
    --  Becton Dickinson And Co. (U.S.)
    --  Fujifilm Sonosite (U.S.)
    --  Ge Healthcare (U.S.)
    --  Hitachi Aloka Medical, Ltd. (Japan)
    --  Johnson & Johnson (U.S.)
    --  Medison Ltd. (Israel)
    --  Medtronic Inc. (U.S)
    --  Mindray (China)
    --  Philips Healthcare Informatics, Inc. (U.S.)
    --  Qiagen (Germany)
    --  Roche Diagnostics (Switzerland)
    --  Shimazdu Corp. (Japan)
    --  Siemens Healthcare (Germany)
    --  Smith & Nephew (U.K.)
    --  Stryker Corp. (U.S.)
    --  Thermofisher Scientific (U.S.)
    --  Toshiba (Japan)
    --  Zimmer Biomet (U.S.)

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