The global market for emerging medical devices is estimated to increase from $136.6 billion in 2024 to reach $223.9 billion by 2029, at a compound annual growth rate (CAGR) of 10.4% from 2024 through 2029.
The IVD market for emerging medical devices is estimated to increase from $28.7 billion in 2024 to reach $48.1 billion by 2029, at a CAGR of 10.9% from 2024 through 2029.
The Cardiovascular devices market for emerging medical devices is estimated to increase from $23.4 billion in 2024 to reach $40.6 billion by 2029, at a CAGR of 11.6% from 2024 through 2029.
Report Scope
This report provides an in-depth analysis of the emerging medical device technology market, including market estimations and trends through 2029. Major players, competitive insights, imaginative innovations, advertising flow and geographic opportunities are examined in detail. The report looks at product innovations and item portfolios of major players. The report covers drivers, restraints, opportunities, emerging technologies and a regulatory scenario assessment. The report includes market projections for 2029 and market shares for key players.
The report's scope encompasses developing therapeutic devices, advances that create the most worldwide income. Dental devices with new innovations and a few imaging devices utilized in dentistry are covered under other devices.
Based on device type, the market is segmented into in vitro diagnostics (IVD), cardiovascular devices, neurology, orthopedics, diabetic care, endoscopy, urology and others. Based on the end-user type, the market is segmented into hospitals and clinics, home healthcare, ambulatory surgical centers and diagnostic laboratories.
The market is segmented by geographic region into North America, Europe, Asia-Pacific and the Rest of the World. Also included in the regional breakdown are detailed analyses of major countries such as the U.S., Germany, the U.K., Italy, France, Spain, Japan, China, India, Brazil, Mexico and Gulf Cooperation Council (GCC) countries. Each country's market is estimated with segmental analysis. For market estimates, data is provided for 2023 as the base year, with estimates for 2024 and a forecast value for 2029.
Report Includes
70 data tables and 56 additional tables
Analyses of the global market trends for emerging medical device technologies, with market revenue data (sales figures) for 2021-2022, estimates for 2023, forecasts for 2024, and projected CAGRs through 2029
Estimates of the market size and revenue prospects, along with a corresponding market share analysis by disease indication, application, end user and region
Discussion of the market potential and opportunities in the medical device industry, along with an analysis of the competitive environment, regulatory scenario, and technological advances
Facts and figures pertaining to R&D activity, technology issues, industry-specific challenges, and the impact of macroeconomic factors
A look at the regulatory and pricing scenarios in the global market, with an emphasis on recent regulations in the U.S., Europe and Japan
Insights derived from the Porter's Five Forces model, as well as global supply chain and PESTLE analyses
Analysis of the industry structure, including companies' market shares and rankings, strategic alliances, M&A activity and a venture funding outlook
Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
Evaluation of recent patent activity and key granted and published patents
Company profiles of major players within the industry, including Medtronic, Abbott, Siemens Healthineers AG, Boston Scientific Corp., and Johnson & Johnson Services Inc.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Chapter 2 Market and Technology Background
Background
Innovation
Overview
Types
Current Trends
Development in Cybersecurity Considerations
Wearable Fitness Technology
Internet of Medical Things Technology
Healthcare and Robotics
3D Printing
Device Connectivity and Software as a Medical Device
PESTLE Analysis
Chapter 3 Market Dynamics
Market Drivers
Emerging Health and Wellness Trends
Increasing Use of AI/ML in Medical Devices
Technology and Services Support Chronic Disease Management
Need for Improving Public Health
Rise in Disease Diagnosis Demand
Increased Patient Education
Market Restraints
Challenges in R&D Funding
Cybersecurity Risks in Healthcare
Failure in Medical Device Designs
Supply Chain Risks and Vulnerabilities
Market Opportunities
Healthcare Delivery with Mobile Medical Imaging
Technological Developments in Medical Devices
Challenges
Chapter 4 Emerging Technologies and Developments
Major Medical Device and Technology Advances in 2024
Adaptive Hearing Aids
Bioprinting
Glucose Monitoring Devices and Digital Wearables
Brain-Machine Interfaces
Major Medical Device and Technology Advances in 2023