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Medical Devices Market Size 2025-2029

The medical devices market size is forecast to increase by USD 223 billion, at a CAGR of 6.5% between 2024 and 2029. The market is witnessing significant growth, driven by the increasing prevalence of diseases and the emergence of innovative medical technologies. The market is experiencing a surge in demand due to the rising burden of chronic diseases and the growing aging population.

Major Market Trends & Insights

North America dominated the market and accounted for a 37% share in 2023.
The market is expected to grow significantly in Europe region as well over the forecast period.
Based on the End-user, the hospitals and ASCs segment led the market and was valued at USD 430.60 billion of the global revenue in 2023.
Based on the Product Type, the diagnostic devices segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 597.90 Billion
Future Opportunities: USD 223 Billion
CAGR (2024-2029): 6.5%
North America: Largest market in 2023

The market continues to evolve, driven by advancements in technology and the growing demand for innovative solutions across various sectors. Cardiovascular device technology, for instance, has seen significant progress with the development of more efficient and effective stents, leading to a 5% annual growth rate. Surgical instrument design has been revolutionized by surgical robotics systems, enabling minimally invasive procedures and improved therapeutic device efficacy. Three-dimensional printed implants are another area of focus, with biomaterial compatibility testing ensuring optimal patient safety and long-term success. Regulatory device compliance remains a critical factor, as mobile health applications and artificial intelligence diagnostics gain popularity.

What will be the Size of the Medical Devices Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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Advanced medical devices, such as implantable devices and diagnostic equipment, are increasingly being adopted to improve patient outcomes and enhance the quality of healthcare. However, the market faces challenges in the form of declining reimbursement and cost containment measures. Healthcare providers and insurers are increasingly focusing on cost savings, leading to pressure on medical device manufacturers to reduce prices. The clinics segment is the second largest segment of the end-user and was valued at USD 104.10 billion in 2023.

Additionally, regulatory compliance and stringent approval processes pose significant challenges to market entrants. Companies must navigate these challenges by developing cost-effective solutions, focusing on regulatory compliance, and collaborating with healthcare providers and insurers to ensure reimbursement for their products. To capitalize on the market opportunities and stay competitive, companies must invest in research and development to bring innovative products to market and collaborate with healthcare providers to address unmet clinical needs.

Neurological device implantation and in-vitro diagnostic testing are also seeing advancements, with precision medicine devices and machine learning algorithms driving diagnostic accuracy. In the realm of diabetes management systems, remote patient monitoring and wearable health trackers are transforming care delivery. Respiratory device performance and drug delivery systems are being optimized for better patient outcomes. Advanced wound care and rehabilitation device technology are also making strides, with connected medical devices and telemedicine platforms facilitating remote care. The market for implantable devices, such as orthopedic implants, is expected to grow at a steady pace, driven by improvements in implantable device design and device cybersecurity standards.

Biomedical device sterilization methods continue to evolve, ensuring patient safety and reducing the risk of infection. A notable example of market dynamism is the integration of health data analytics into clinical trial protocols and patient safety protocols, streamlining research and improving patient care. Overall, the market is characterized by continuous innovation and adaptation to meet the evolving needs of healthcare providers and patients.

How is this Medical Devices Industry segmented?

The medical devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Hospitals and ASCs
  Clinics
  Others


Product Type

  Diagnostic devices
  Therapeutic devices
  Monitoring devices
  Assistive and rehabilitation devices
  Others


Application

  Cardiovascul

The global implantable medical devices market size reached USD 141.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 209.1 Billion by 2033, exhibiting a growth rate (CAGR) of 4.5% during 2025-2033. The rising prevalence of chronic diseases, increasing demand for smaller, more advanced implantable medical devices, and growing integration of digital health technologies and connectivity features in implantable devices are some of the key factors driving the growth of the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 141.3 Billion
Market Forecast in 2033	USD 209.1 Billion
Market Growth Rate 2025-2033	4.5%

IMARC Group provides an analysis of the key trends in each segment of the global implantable medical devices market report, along with forecasts at the global and regional levels from 2025-2033. Our report has categorized the market based on product type, material and end-user.

The global sales of homecare medical devices are estimated to be worth USD 172.6 billion in 2025 and are anticipated to reach a value of USD 403.4 billion by 2035.

Attributes	Key Insights
Historical Size, 2024	USD 158.5 billion
Estimated Size, 2025	USD 172.6 billion
Projected Size, 2035	USD 403.4 billion
Value-based CAGR (2025 to 2035)	8.9%

Semi Annual Market Update

Particular	Value CAGR
H1	9.6% (2024 to 2034)
H2	9.3% (2024 to 2034)
H1	8.9% (2025 to 2035)
H2	8.4% (2025 to 2035)

Country-wise Insights

Country	Value CAGR (2025 to 2035)
United States	2.3%
Germany	2.0%
Italy	2.5%
UK	4.6%
India	7.3%
China	6.8%

Category-wise Insights

Product	Value Share (2025)
Wheelchairs	57.4%

By Distribution Channel	Value Share (2025)
Online Retailers	39.5%

Global connected medical devices market size & share predicted to reach USD 190.63 billion by 2032, to grow at a CAGR of 14.4% during the forecast period. The market for connected diagnostic imaging equipment is in a phase of notable expansion, fueled by the increasing demand for advanced and remote diagnostic capabilities.

The Hi-Tech Medical Devices Market Report Segments the Industry Into by Device Type (Diagnostic & Monitoring Devices and Therapeutic Devices), by Form Factors (Smart Watches, Fitness Bands, and More), by Connectivity (Wi-Fi, Cellular, and More), by Application (Sports & Fitness, Home Healthcare, and More), and by Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD).

The Connected Drug Delivery Devices Market is estimated to be valued at USD 845.9 million in 2025 and is projected to reach USD 7039.1 million by 2035, registering a compound annual growth rate (CAGR) of 23.6% over the forecast period.

Metric	Value
Industry Size (2025E)	USD 845.9 million
Industry Value (2035F)	USD 7039.1 million
CAGR (2025 to 2035)	23.6%

The antimicrobial-coated medical devices market size is projected to be valued at US$ 1,485.0 million in 2023 and is expected to rise to US$ 5,123.5 million by 2033. The sales of antimicrobial-coated medical devices are expected to register a significant CAGR of 13.2% during the forecast period.

Attribute	Details
Market Estimated Size (2023)	US$ 1,485 million
Market CAGR (2023 to 2033)	13.2%
Devices Market Forecasted Size (2033)	US$ 5,123.5 million

Scope of the Report

Attribute	Details
Growth Rate	CAGR of 13.2% from 2023 to 2033
Base Year of Estimation	2023
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ million and Volume in Units and F-CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis
Key Segments Covered	Device Type Coating Material By Region
Regions Covered	North America Latin America Europe East Asia South Asia The Middle East & Africa Oceania
Key Countries Profiled	The United States Canada Brazil Mexico Germany Italy France The United Kingdom Spain Russia China Japan India GCC Countries Australia
Key Companies Profiled	AST Products Inc. Covalon Technologies Ltd. BASF SE Bio Interaction Ltd. Royal DSM Sciessent LLC Specialty Coating Systems Inc. Hydromer Inc. Dow Chemical Company Biocote PPG Industries, Inc.
Customization & Pricing	Available upon Request

The Minimally Invasive Surgery Devices Market Report is Segmented by Product Type (Handheld Instruments, Guiding Devices, Electrosurgical Devices, Endoscopic Devices, and More), Application (Aesthetic, Cardiovascular, Gastrointestinal, and More), End User (Hospitals, and More), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, South America). The Market Forecasts are Provided in Terms of Value (USD).

Wearable medical devices market size is valued at USD 39.31 billion in 2025 and is estimated to reach USD 232.98 billion by 2035, representing a CAGR of 19.48%

The medical devices market is projected to grow at a CAGR of 7% from 2025 to 2030, driven by technological advancements, a rapidly growing aging population, and the rising prevalence of chronic diseases. Key factors fueling growth include increased healthcare expenditure, expansion of minimally invasive procedures, and rising adoption of digital health solutions like wearable […]

• The industry was valued at US$ 27.6 Bn in 2022
• It is estimated to grow at a CAGR of 6.3% from 2023 to 2031 and reach US$ 47.4 Bn by the end of 2031

Pediatric Medical Devices Market Snapshot

Attribute	Detail
Market Size in 2022	US$ 27.6 Bn
Market Forecast (Value) in 2031	US$ 47.4 Bn
Growth Rate (CAGR)	6.3%
Forecast Period	2023-2031
Historical Data Available for	2017-2021
Quantitative Units	US$ Bn for Value
Market Analysis	It includes segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces Analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2022) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy and recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Product In Vitro Diagnostic (IVD) Devices Cardiology Devices Diagnostic Imaging Devices Anesthesia & Respiratory Care Devices Neonatal ICU Devices Monitoring Devices Telemedicine Home-use Medical Devices End-user Hospitals Diagnostic Laboratories Ambulatory Surgical Centers Others
Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Spain Italy Russia and CIS Japan China India ASEAN Brazil Mexico GCC South Africa
Companies Profiled	Abbott Boston Scientific Corporation Baxter International, Inc. Medtronic Cardinal Health, Inc. F. Hoffmann-La Roche Ltd. GE Healthcare Johnson & Johnson Siemens Healthinners Koninklikje Philips N.V. Stryker Corporation
Customization Scope	Available upon request
Pricing	Available upon request

[191 Pages Report] Sales in the global Mucus Clearance Devices Market are slated to top US$ 595.2 Mn in 2022. Expanding at a healthy 6.1% CAGR, the market size is projected to total US$ 847.0 Mn by 2028.

Attribute	Details
Mucus Clearance Devices Market Estimated Size 2022	US$ 595.2 Million
Mucus Clearance Devices Market Value-based CAGR (2022 to 2028)	~6.1%
Mucus Clearance Devices Market Size in Projected 2028	US$ 847.0 Million

How The Market Progressed Till June 2022?

Particulars	Details
H1, 2021	6.05%
H1, 2022 Projected	6.06%
H1, 2022 Outlook	5.56%
BPS Change - H1, 2022 (O) – H1, 2022 (P)	(-) 50 ↓
BPS Change – H1, 2022 (O) – H1, 2021	(-) 49 ↓

Scope of Report

Attribute	Details
Forecast Period	2013 to 2021
Historical Data Available for	2022 to 2028
Market Analysis	Units for Volume and US$ Million for Value
Key Regions Covered	North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Market Segments Covered	Cycle Type, Indication, End User, and Region
Key Companies Profiled	Hill-Rom Inc. Allergan Koninklijke Philips N.V. Respiratory Technologies, Inc. Smiths Medical Electromed, Inc. Monaghan Medical Corporation Thayer Medical VORTRAN Medical
Pricing	Available upon Request

In 2023, the wearable healthcare devices market in North America was worth over **** billion U.S. dollars. Furthermore, the market in Europe was worth *** billion U.S. dollars. By 2029, the wearable devices market was forecast to reach almost ** billion U.S. dollars in North America.

The market is projected to reach approximately USD 5,912.7 million in 2025 and expand to around USD 11,099.0 million by 2035, reflecting a compound annual growth rate (CAGR) of 6.5% over the forecast period.

Metric	Value
Industry Size (2025E)	USD 5,912.7 million
Industry Value (2035F)	USD 11,099.0 million
CAGR (2025 to 2035)	6.5%

Country-wise Insights

Year	CAGR (2025 to 2035)
2025 to 2035	3.7%

Year	CAGR (2025 to 2035)
2025 to 2035	5.2%

Year	CAGR (2025 to 2035)
2025 to 2035	5.6%

Year	CAGR (2025 to 2035)
2025 to 2035	3.9%

Year	CAGR (2025 to 2035)
2025 to 2035	4.2%

Competitive Outlook

Company Name	Estimated Market Share (%)
Cynosure (Hologic)	23.3%
Cutera Inc.	18.6%
Lumenis	16.0%
Alma Lasers	13.4%
Solta Medical (Bausch Health)	8.7%
Other Companies (combined)	19.9%

The 5G Devices Market report segments the industry into Form Factor (Modules, CPE (Indoor/Outdoor), Smartphone, Hotspots, Laptops, Industrial Grade CPE/Router/Gateway, Other Form Factors), Spectrum Support (Sub-6 GHz, mmWave, Both Spectrum Bands), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). Get five years of historical data alongside five-year market forecasts.

The UAE Medical Device Market size was valued at around USD 1.92 billion in 2023 and is estimated to grow at a CAGR of about 8.87% during the forecast period, i.e., 2024-30.

• The global industry was valued at US$ 390.7 Mn in 2023
• It is expected to grow at a CAGR of 6.8% from 2024 to 2034 and reach US$ 796.1 Mn by the end of 2034

On-body Drug Delivery Devices Market Overview

Attribute	Detail
Market Drivers	Patients’ Shift toward Advanced Drug Delivery Systems Rise in Incidence of Chronic Diseases

Regional Analysis of On-body Drug Delivery Devices Market

Attribute	Detail
Leading Region	North America

On-body Drug Delivery Devices Market Snapshot

Attribute	Detail
Market Size in 2023	US$ 390.7 Mn
Market Forecast (Value) in 2034	US$ 796.1 Mn
Growth Rate (CAGR)	6.8%
Forecast Period	2024-2034
Historical Data Available for	2020-2022
Quantitative Units	US$ Bn for Value
Market Analysis	It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2023) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Product Type Wearable Injectors Auto-injectors Patches Others Application Cardiovascular Diseases Cancer Autoimmune Diseases Diabetes Others (Orthopedic Disorders, etc.) End-user Hospitals Specialty Clinics Ambulatory Surgery Centers Others (research Institutes, etc.)
Regions Covered	North America Europe Asia Pacific Latin America Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Italy Spain China India Japan Australia & New Zealand Brazil Mexico South Africa GCC
Companies Profiled	Enable Injections, Inc. NOVO Engineering Elcam Medical Battelle Gerresheimer AG
Customization Scope	Available Upon Request
Pricing	Available Upon Request

The global Subcutaneous Drug Delivery Devices Market in terms of revenue was estimated to be worth $30.43 bn in 2023 & is poised to reach $53.50 bn by 2032, growing at a CAGR of 6.5% from 2024 to 2032.

The global IT devices market size was valued at USD 1.96 trillion in 2024 and is expected to reach USD 6.53 trillion by 2037, registering around 9.7% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific industry is likely to dominate majority revenue share of 40.5% by 2037, as consumer electronics sector is expanding at a high pace in the region owing to the presence of strong manufacturing hubs.

Wearable Medical Devices Market is predicted to USD 143.7 Billion by 2034 and CAGR 14.90% Market by Indications by Distribution Channels.