According to a new market report published by Lucintel, the future of the medical device market looks good with opportunities in the general medical devices, cardiovascular, and surgical & infection control segments. The global medical device market is expected to reach an estimated $342.9 billion by 2021 with a CAGR of 4.6% from 2016 to 2021. The major drivers of growth for this market are the growth in healthcare expenditure, increasing health awareness, and ageing population.
In this market, surgical & infection control, general medical devices, cardiovascular, home healthcare are the major applications. Lucintel forecasts that cardiovascular is expected to remain as the largest market supported by growth in multiple chronic cardiovascular diseases and increasing ageing population. On the basis of its comprehensive research, Lucintel predicts that the general medical device segment is likely to experience the highest growth during forecast period due to the growth in hospitals and healthcare institutions.
North America is expected to remain the largest market due to the high number of ageing population with multiple chronic diseases and stringent government regulation related to healthcare.
Asia Pacific is expected to witness good growth over the forecast period because of increasing investment in healthcare infrastructures, increasing health insurance facilities, and changing lifestyle.
For business expansion, the report suggests innovation and new product development to enhance medical experience with lower cost solutions.
The emerging trends, which have a direct impact on the dynamics of the industry, include design and manufacturing of portable and smaller devices and increasing usage of software as a differentiator in medical devices. Johnson & Johnson, Roche Holding Ltd., 3M, Philips Healthcare, and Medtronic are among the major suppliers of medical devices. There are some companies that are opting for merger and acquisition as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global medical devices market by application and region and has come up with a comprehensive research report, “Growth Opportunities in the Global Medical Devices Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global medical devices market by application and region as follows:
By Application [$ billion shipment analysis for 2010 – 2021]:
• Surgical & Infection Control
• General Medical Devices
• Home Healthcare
• Other Device Roof
By Region [$ billion shipment analysis for 2010 – 2021]:
• North America
• Asia Pacific
• Rest of the World
This 135-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Medical Market Analysis, Medical Market Research, Strategic Growth Consulting, Commercial Due Diligence Report and Market Research Reports Online.
This report answers following 11 key questions:
Q.1: What are some of the most promising, high-growth opportunities for the global medical devices market by application, (Surgical & Infection Control, General Medical Devices, Cardiovascular, Home Healthcare and Other devices) and regions (North America, Europe, APAC, and ROW?
Q. 2. Which segments will grow at a faster pace and why?
Q.3: Which regions will grow at a faster pace and why?
Q.4: What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5: What are the business risks and threats to the market?
Q.6: What are emerging trends in this market and reasons behind them?
Q.7: What are some changing demands of customers in the market?
Q.8: What are the new developments in the market? Which companies are leading these developments?
Q.9: Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10: What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution
Q.11: What are M & A activities in the last 5 years in this market? What reasons can be attributed to these activities and how have they impacted the industry?