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(Health-NewsWire.Net, May 25, 2021 ) The rising prevalence of chronic diseases such as diabetes and cancer is expected to be a major driver of the medical devices market. According to the United Nations, the proportion of total global deaths due to chronic diseases is expected to increase to 70% and the global burden of chronic diseases is expected to reach about 60% by 2030. Extended working hours, limited physical activity, and unhealthy food habits are the major causes of chronic diseases such as diabetes and cancer. The high prevalence of chronic diseases also increases the vulnerability to other contagious infections such as the coronavirus infection which severely attacks the patient’s lungs. This will further increase the demand for medical devices used in diagnosis, prognosis, and treatment of a number of diseases, driving the medical devices market.
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The Business Research Company’s report titled Medical Devices Global Market Report 2021 covers major companies, medical devices market share by company, medical devices market size, and medical devices market forecasts. The report also covers the global medical devices market and its segments.
The Business Research Company’s Global Medical Devices Market Report Is Segmented -
1) By Type Of Device - 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.
2) By Type Of Expenditure – Public Expenditure, Private Expenditure
3) By End-User - Homecare, Hospitals and Clinics, Diagnostic Centers
Read More On The Global Medical Devices Market Report
https://www.thebusinessresearchcompany.com/report/medical-devices-market
Medical Devices Market Size Forecast
The global medical devices market declined from $456.9 billion in 2019 to $442.5 billion in 2020 at a rate of -3.2%. The decline is mainly due to lockdowns imposed by the governments across the world that hindered the supply chain in the medical devices manufacturing industry. However, there is an unprecedented increase in the manufacturing of the ventilators that are used to treat COVID-19 patients. The market is then expected to recover and grow at a CAGR of 6.1% from 2021 and reach $603.5 billion in 2023.
North America is the largest region in the global medical devices market, accounting for almost 40% of the global medical devices market in 2020. It was followed by Asia-Pacific and Western Europe, and others.
The countries covered in the global medical devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major Players In The Medical Devices Market
Major companies in the medical devices market include Medtronic Plc, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company, Siemens Healthineers AG
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Medical Devices Market Global Report 2020-30 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, market trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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