Medical Device and Accessories Market Overview
The devices used in the monitoring, diagnosis and treatment of various diseases are made up of a variety of appliances, apparatus, software, materials, and other products accessible on the market device and accessories market.
Because of the rise in chronic diseases such as asthma, back pain, cardiovascular disease, diabetes, chronic obstructive pulmonary disease, cancer, arthritis, and mental health, the medical device, and accessories market is growing rapidly. As the prevalence of chronic diseases rises, so does the demand for various medical devices and accessories. In addition, the medical devices and accessories market in the global market is driven by recent technological advancements.
The government's expanding measures for improving the medical sector, as well as their increasing spending on it, provide a variety of growth prospects for the medical devices and accessories market in the global market. Moreover, during the anticipated time, the government will spend a significant amount of money on research and development. Because the majority of the population is worried about healthcare, the medical devices and accessories market has numerous prospects for growth in the global market.
The medical device and accessories market is expanding in the global market, but there are some restraints, such as government regulations and a lack of R&D spending in various developing and underdeveloped economies, that are limiting its growth.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type of Device, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Johnson and Johnson Services, Inc., Stryker, KONINKLIJKE PHILIPS NV, GENERAL ELECTRIC, Siemens, Abbot Laboratories Inc., Medtronic, Danaher, Boston Scientific Corporation. |
Covid-19 Impact on Medical Device and Accessories Market
In addition, the current Medical Device and Accessories Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Medical Device and Accessories Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Medical Device and Accessories Market Segment Overview
According to the Type of Device, Cardiovascular Applications is one of the largest segments in the global Medical Device and Accessories Market. Some of the biomaterial devices used for the cardiovascular purpose is the cardiopulmonary bypass system, heart valves, vascular grafts, stents, pacemakers, and the complete artificial heart. The cardiovascular, or circulatory, the system supplies the body with blood. It consists of the heart, arteries, veins, and capillaries. CVD is now the most common cause of death worldwide. However, there are many ways to reduce the risk of developing these conditions.
Medical Device and Accessories Market, By Type of Device
· Suture Needles
· Diabetes Monitors
· A Nerve Stimulator
· Cochlear Implant
· Dental Implant
· Therapeutic Medical Guide
· Catheters
· Coronary Pressure Monitors
· Cardiovascular Applications
Medical Device and Accessories Market Regional Overview
In terms of geography, the global Medical Device and Accessories market is classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is at the forefront and is predicted to continue to retain its lead position through the forecast period. Because of high healthcare expenditures, the presence of major manufacturers, well-developed technology, and a large population, the American region holds the highest share in the medical devices and accessories market. The European area holds the second-largest share of the medical device and accessories market, owing to an increase in chronic diseases, well-developed technology, and significant government backing. Because of the advancement of technology, the growing need for better monitoring equipment, and the growing pool of elderly patients, the Asia-Pacific region is the fastest-growing region in the global market and thus has a favorable outlook in the medical devices and accessories market. Because of the slow and weak growth of several emerging countries, the Middle East and Africa region have the smallest proportion.
Medical Device and Accessories Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Medical Device and Accessories Market, Key Players
· Johnson and Johnson Services, Inc.
· Stryker
· KONINKLIJKE PHILIPS NV
· GENERAL ELECTRIC
· Siemens
· Abbot Laboratories Inc.
· Medtronic
· Danaher
· Boston Scientific Corporation
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Medical Device and Accessories market?
Because of the rise in chronic diseases such as asthma, back pain, cardiovascular disease, diabetes, chronic obstructive pulmonary disease, cancer, arthritis, and mental health, the medical device, and accessories market is growing rapidly
Q2. What are the restraining factors for the global Medical Device and Accessories market?
There are some restraints, such as government regulations and a lack of R&D spending in various developing and underdeveloped economies, that are limiting its growth.
Q3. Which segment is projected to hold the largest share in the global Medical Device and Accessories market?
Cardiovascular Applications segment is projected to hold the largest share in the global Medical Device and Accessories market
Q4. Which region holds the largest share in the global Medical Device and Accessories market?
North America holds the largest share in the global Medical Device and Accessories market
Q5. Which are the prominent players in the global Medical Device and Accessories market?
Johnson and Johnson Services, Inc., Stryker, KONINKLIJKE PHILIPS NV, GENERAL ELECTRIC, Siemens, Abbot Laboratories Inc., Medtronic, Danaher, Boston Scientific Corporation. are some key players in the global Medical Device and Accessories market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Medical Device and Accessories Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type of Device
- 5.2.1. Suture Needles
- 5.2.2. Diabetes Monitors
- 5.2.3. A Nerve Stimulator
- 5.2.4. Cochlear Implant
- 5.2.5. Dental Implant
- 5.2.6. Therapeutic Medical Guide
- 5.2.7. Catheters
- 5.2.8. Coronary Pressure Monitors
- 5.2.9. Cardiovascular Applications
- 5.3. Market Analysis, Insights and Forecast – By Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America, Middle East and Africa
6. North America Medical Device and Accessories Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type of Device
- 6.2.1. Suture Needles
- 6.2.2. Diabetes Monitors
- 6.2.3. A Nerve Stimulator
- 6.2.4. Cochlear Implant
- 6.2.5. Dental Implant
- 6.2.6. Therapeutic Medical Guide
- 6.2.7. Catheters
- 6.2.8. Coronary Pressure Monitors
- 6.2.9. Cardiovascular Applications
- 6.3. Market Analysis, Insights and Forecast – By Country
- 6.3.1. U.S.
- 6.3.2. Canada
7. Europe Medical Device and Accessories Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type of Device
- 7.2.1. Suture Needles
- 7.2.2. Diabetes Monitors
- 7.2.3. A Nerve Stimulator
- 7.2.4. Cochlear Implant
- 7.2.5. Dental Implant
- 7.2.6. Therapeutic Medical Guide
- 7.2.7. Catheters
- 7.2.8. Coronary Pressure Monitors
- 7.2.9. Cardiovascular Applications
- 7.3. Market Analysis, Insights and Forecast – By Country
- 7.3.1. UK
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Russia
- 7.3.7. Rest of Europe
8. Asia Pacific Medical Device and Accessories Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type of Device
- 8.2.1. Suture Needles
- 8.2.2. Diabetes Monitors
- 8.2.3. A Nerve Stimulator
- 8.2.4. Cochlear Implant
- 8.2.5. Dental Implant
- 8.2.6. Therapeutic Medical Guide
- 8.2.7. Catheters
- 8.2.8. Coronary Pressure Monitors
- 8.2.9. Cardiovascular Applications
- 8.3. Market Analysis, Insights and Forecast – By Country
- 8.3.1. China
- 8.3.2. India
- 8.3.3. Japan
- 8.3.4. Australia
- 8.3.5. South East Asia
- 8.3.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Medical Device and Accessories Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type of Device
- 9.2.1. Suture Needles
- 9.2.2. Diabetes Monitors
- 9.2.3. A Nerve Stimulator
- 9.2.4. Cochlear Implant
- 9.2.5. Dental Implant
- 9.2.6. Therapeutic Medical Guide
- 9.2.7. Catheters
- 9.2.8. Coronary Pressure Monitors
- 9.2.9. Cardiovascular Applications
- 9.3. Market Analysis, Insights and Forecast – By Country
- 9.3.1. Brazil
- 9.3.2. Saudi Arabia
- 9.3.3. UAE
- 9.3.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Johnson and Johnson Services, Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Stryker
- 10.6. KONINKLIJKE PHILIPS NV
- 10.7. GENERAL ELECTRIC
- 10.8. Siemens
- 10.9. Abbot Laboratories Inc.
- 10.10. Medtronic
- 10.11. Danaher
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
