LONDON--(BUSINESS WIRE)--The medical devices market is poised to grow by USD 134.2 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Medical Devices Market Analysis Report by Product (Therapeutic and surgical devices, PMDMID and Other medical devices), Geographic segmentation (Asia, Europe, North America and ROW), and the Segment Forecasts, 2020-2024".
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The market is driven by the growing penetration of medical devices in emerging countries. In addition, increasing initiatives by public and private organizations are anticipated to boost the growth of the medical devices market.
The medical devices market is witnessing growth in the emerging economies to the extent that by 2022, more than 30% of the global healthcare expenditure is expected to arise from these economies. Medical device companies in emerging markets leverage low manufacturing and labor costs and generate significant profit margins for investors. In addition, unlike developed economies that are governed by strong government and payor actions in terms of competitive pricing and regulation, emerging markets are benign for healthcare companies. Furthermore, several emerging economies have an increasing geriatric population and are struggling with an increase in the prevalence of chronic diseases, which will lead to an increase in the demand for medical devices. Thus, the growing penetration of medical devices in emerging countries is expected to drive market growth during the forecast period.
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Major Five Medical Devices Market Companies:
Becton, Dickinson and Co.
Becton, Dickinson and Co. operates the business under various segments such as BD Medical, BD Life Sciences, and BD Interventional. The company offers medical devices for surgical, infusion, diabetes care, and interventional procedures.
F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. offers products through the following business units: Pharmaceuticals and Diagnostics. The company provides medical devices for diabetes care and sample collection.
Fresenius SE & Co. KGaA
Fresenius SE & Co. KGaA operates under various business segments, namely Fresenius Medical Care, Fresenius Kabi, Fresenius Helios, and Fresenius Vamed. The company offers medical devices for dialysis, apheresis, transfusion technology, and infusion therapy.
General Electric Co.
General Electric Co. offers products through the following business segments: Aviation, Power, Oil and gas, Healthcare, Renewable energy, Transportation, Lighting, and Capital. The company offers Accessories & supplies, GE Health Cloud, Bone health and metabolic health, and other solutions.
Johnson and Johnson Services Inc.
Johnson and Johnson Services Inc. offers products through the following business segments: Pharmaceutical, Medical Devices, and Consumer. The company offers medical devices for surgery, orthopedics, infection prevention, and other procedures.
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Medical Devices Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Therapeutic and surgical devices
- PMDMID
- Other medical devices
Medical Devices Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- Asia
- Europe
- North America
- ROW
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