Global Medical Device Market Research Report Covers Industry Trends, Analysis and is Segmented by Type of Device (Respiratory Devices, Cardiology Devices, Orthopedic Devices, Diagnostic Imaging Devices (Radiology Devices), Endoscopy Devices, Ophthalmology Devices, and Other Devices) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).

According to Cognitive Market Research, the global Medical Equipment market size is USD 63581.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 25432.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 19074.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 14623.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.0% from 2024 to 2031.
Latin America holds the market of more than 5% of the global revenue with a market size of USD 3179.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.
Middle East and Africa held the market of around 2% of the global revenue with a market size of USD 1271.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.
The fastest-growing category in the Medical Equipment Market is Diagnostic Imaging, which includes devices used to create images of the body's internal structures for diagnosis and treatment planning.

Market Dynamics of Medical Equipment Market

Key Drivers for Medical Equipment Market

Technological Advancements Driving Innovation to Increase the Demand Globally

One of the key drivers in the Medical Equipment Market is technological advancements, which are driving innovation and the development of new medical devices. Advances in technology, such as robotics, artificial intelligence, and 3D printing, are revolutionizing the field of medical equipment by improving the accuracy, efficiency, and safety of medical procedures. For example, robotic-assisted surgery systems enable surgeons to perform minimally invasive procedures with greater precision, leading to faster recovery times and reduced complications for patients. Similarly, the use of AI algorithms in diagnostic equipment allows for more accurate and timely diagnosis of diseases, improving patient outcomes. These technological advancements not only enhance the capabilities of medical equipment but also create new opportunities for market growth and development.

Increasing Demand for Personalized Healthcare to Propel Market Growth

Another driver in the Medical Equipment Market is the increasing demand for personalized healthcare solutions. Patients are increasingly seeking treatments that are tailored to their specific needs and conditions, driving the development of personalized medical devices and equipment. For example, wearable devices that monitor vital signs and activity levels allow for continuous remote monitoring of patients, enabling healthcare providers to deliver personalized care plans and interventions. Additionally, advancements in genetic testing and molecular diagnostics are enabling healthcare providers to identify genetic markers and biomarkers that can inform personalized treatment strategies. This growing demand for personalized healthcare is fueling the development of innovative medical equipment and driving market growth in the Medical Equipment Market.

Restraint Factor for the Medical Equipment Market

High Cost of Medical Equipment to Limit the Sales

One of the key restraints in the Medical Equipment Market is the high cost associated with acquiring and maintaining medical equipment. Advanced medical devices and equipment often come with a significant price tag, making them inaccessible to healthcare facilities with limited budgets, particularly in developing regions. The high cost of medical equipment can also strain the budgets of healthcare providers and increase the overall cost of healthcare services, leading to affordability issues for patients. Additionally, the need for regular maintenance, upgrades, and training further adds to the cost burden. Addressing this restraint requires innovative pricing models, partnerships with financing institutions, and government incentives to make medical equipment more affordable and accessible to a wider range of healthcare providers and patients.

Impact of Covid-19 on the Medical Equipment Market

The Covid-19 pandemic has had a profound impact on the Medical Equipment Market, both positively and negatively. On one hand, the pandemic has led to a surge in dema...

This statistic depicts the projected percentage of global medical device revenue attributed to select major countries as of 2018. As of that year, some 39 percent of medical device sales worldwide will occur in the United States.

The global medical device market size is anticipated to increase from USD 528.88 billion in 2024 to reach USD 857.39 billion by 2035, growing at a CAGR of 4.49% during the forecast period.

The report covers Global Medical Supplies Industry Trends and the market is segmented by Product Type (Diagnostic Supplies, Infusion & Injectable Supplies, Intubation & Ventilation Supplies, Disinfectants, Personal Protective Equipment, Sterilization Consumables, Wound Care Consumables, Dialysis Consumables, Radiology Consumables, Catheters, Sleep Apnea Consumables, and Other Medical Supplies), Application (Urology, Wound Care, Radiology, Respiratory, Infection Control, Cardiology, IVD, and Other Applications), End-User (Hospitals, Clinics/Physician Offices and Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Global medical equipment market size is expected at $1,660,695.4 million by 2033 at a growth rate of 8.9%

In 2021, the worldwide medical devices market had a value of 536 billion U.S. dollars. By 2027, the market was forecast to reach over 773 billion U.S. dollars with a CAGR in this period of 6.16 percent.

Medical Equipment Maintenance Market is Segmented by Service Type (Preventive Maintenance, Corrective Maintenance, and Operational Maintenance), Service Providers (Independent Service Organizations, and Original Equipment Manufacturers), End Use (Imaging Equipment, Endoscopic Devices, Surgical Equipment, Other Products), End User (Hospitals, Laboratories, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics and Speciality Clinics, Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). Global Market Size and Forecasts are Provided in Terms of Value (USD Million) for the Above Segments.

The market for medical device packaging is estimated to generate a market size of USD 43.2 billion in 2025 and would increase to 67.7 billion by 2035. It is expected to increase its sales at a CAGR of 4.6% over the forecast period 2025 to 2035. Revenue generated from medical device packaging in 2024 was USD 41.7 billion.

Metric	Value
Industry Size (2025E)	USD 43.2 Billion
Industry Value (2035F)	USD 67.7 Billion
CAGR (2025 to 2035)	4.6%

Semi Annual Market Update

Particular	Value CAGR
H1	2.0% (2023 to 2034)
H2	3.3% (2023 to 2034)
H1	2.9% (2024 to 2035)
H2	4.5% (2024 to 2035)

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
USA	3.4%
Germany	2.7%
China	6.1%
UK	2.6%
Spain	2.9%
India	6.9%
Canada	3.0%

Category-wise Insights

Material	Market Share (2025)
Plastic	40.7%

Packaging Format	Market Share (2025)
Bags & Pouches	31.5%

Global portable medical devices market share in 2025 will be USD 72.5 Billion, and is expected to take place USD 191.1 Billion in 2035, at a CAGR of 10.4% between 2025 and 2035.

Market Size (2025E)	USD 72.5 Billion
Market Value (2035F)	USD 191.1 Billion
CAGR (2025 to 2035)	10.4%

Country-wise outlook

Country	CAGR (2025 to 2035)
USA	10.7%

Country	CAGR (2025 to 2035)
UK	10.3%

Country	CAGR (2025 to 2035)
European Union (EU)	10.4%

Country	CAGR (2025 to 2035)
Japan	10.6%

Country	CAGR (2025 to 2035)
South Korea	10.7%

Competitive Outlook

Company Name	Estimated Market Share (%)
Medtronic plc	12-17%
GE Healthcare	10-14%
Koninklijke Philips N.V.	9-13%
Omron Healthcare, Inc.	7-11%
Abbott Laboratories	5-9%
Other Companies (combined)	45-55%

Global Medical Device market size 2025 was XX Million. Medical Device Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

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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 experiencing significant growth, driven by the increasing prevalence of chronic diseases and an aging population. This demographic shift, coupled with advancements in medical technology, is fueling innovation and demand for medical devices. However, market expansion is not without challenges. Declining reimbursement and cost containment measures are putting pressure on device manufacturers to reduce costs while maintaining quality. These factors necessitate strategic planning and operational efficiency for companies seeking to capitalize on market opportunities and navigate challenges effectively. The market's dynamic landscape requires a keen knowledge of regulatory requirements, technological advancements, and market trends to remain competitive. Companies that can effectively address these challenges and leverage opportunities presented by the evolving healthcare landscape will be well-positioned for success.

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

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The market encompasses a diverse range of technologies and products designed to diagnose, monitor, and treat various health conditions. Driven by the global burden of chronic diseases, including cardiovascular diseases, cancer, and diabetes, the market experiences significant growth. Changing lifestyles, an aging population, and increasing prevalence of sedentary lifestyles further fuel demand for health monitoring solutions, such as wearable electronics and fitness trackers. In the realm of medical diagnostics, wireless medical technologies and smart technologies are revolutionizing cancer screening and insulin level monitoring, among others.
Therapeutic devices, including implantable defibrillators and insulin pumps, are transforming patient care and improving outcomes. Surgical procedures, ophthalmic procedures, and orthopedic procedures continue to benefit from medical advancements, while the economic burden of hospital inpatient care and home healthcare necessitates the development of cost-effective solutions. The market's direction remains focused on enhancing patient care, improving health outcomes, and reducing the overall economic burden of healthcare.

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

  Cardiovascular
  Orthopedic
  Diagnostic imaging
  Dental
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Asia
  Rest of World (ROW)

By End-user Insights

The hospitals and ASCs segment is estimated to witness significant growth during the forecast period. The market encompasses a vast array of products utilized in hospitals and Ambulatory Surgical Centers (ASCs). Hospitals and ASCs are primary consumers of medical devices, necessitating equipment for diagnosis, treatment, and patient monitoring. Devices such as imaging equipment, surgical instruments, patient monitoring systems, and diagnostic tools are essential. The escalating healthcare expenditure from both public and private sectors fuels the demand for advanced medical devices, which improve patient care and treatment outcomes.

Further, the expanding global population and aging demographics result in increased patient volumes in hospitals and ASCs, necessitating more medical devices to cater to the rising patient care demands. Chronic diseases, changing lifestyles, and the economic burden of healthcare further drive the need for medical devices, particularly in areas like cancer, cardiovascular diseases, and diabetes. Technological advancements, including wearable electronics, wireless medical devices, smart technologies, and telemedicine tools, are revolutionizing healthcare and enhancing patient-centric care.

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The hospitals and ASCs segment was valued at USD 380.90 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is th

The Report Covers Durable Medical Equipment Companies and It is Segmented by Device Type (Personal Mobility Devices (Wheelchair, Crutch and Cane, Walker and Other Personal Mobility Devices), Medical Furniture and Bathroom Safety Devices (Medical Bed and Mattress, Commode and Toilet and Other Medical Furniture and Bathroom Safety Devices), and Monitoring and Therapeutic Devices (Blood Glucose Monitor, Oxygen Equipment, Vital Sign Monitor, Infusion Pump and Other Monitoring and Therapeutic Devices)), End-User (Hospital/Clinics, Ambulatory Surgical Center, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market Size and the Value (USD Million) for the Above Segments.

Explore the Medical Equipment Maintenance Market trends! Covers key players, growth rate 12.2% CAGR, market size $71.76 Billion, and forecasts to 2034. Get insights now!

The global durable medical equipment (DME) market size reached USD 228.93 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 370.38 Billion by 2033, exhibiting a growth rate (CAGR) of 5.05% during 2025-2033.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 228.93 Billion
Market Forecast in 2033	USD 370.38 Billion
Market Growth Rate 2025-2033	5.05%

IMARC Group provides an analysis of the key trends in each sub-segment of the global durable medical equipment (DME) market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on product and end use.

Explore the Refurbished Medical Equipment Market trends! Covers key players, growth rate 15.9% CAGR, market size $32.84 Billion, and forecasts to 2034. Get insights now!

Experience robust expansion in the Global Medical Device Connectivity Market, with an anticipated CAGR of approximately 22.26% throughout the forecast period from 2024 to 2030.

The worldwide medical equipment reimbursement market size is expected to reach USD 581.6 million by 2024. Owing to an impressive CAGR of 11.5% through 2034, the industry is set to reach USD 1727.2 million by the end of the forecast period.

Attributes	Key Insights
Estimated Worldwide Medical Equipment Reimbursement Market Size in 2024	USD 581.6 million
Projected Medical Equipment Reimbursement Industry Value in 2034	USD 1727.2 million
Value-based CAGR from 2024 to 2034	11.5%

Semi-annual Industry Updates

Particulars	Value CAGR
H1	12.4% (2023 to 2033)
H2	11.9% (2023 to 2033)
H1	11.5% (2024 to 2034)
H2	11.2% (2024 to 2034)

Country-wise Analysis

Countries	Forecasted CAGR
The United States of America	3.6%
The United Kingdom	4.1%
India	13%

Category-wise Insights

Category	Payer Type- Private
Industry Share in 2024	89.5%

Category	Healthcare Setting- Hospitals
Industry Share in 2024	57%

Medical Device Packaging Market size was valued at USD 34.35 Billion in 2023 and is projected to reach USD 54.76 Billion by 2031, growing at a CAGR of 6% from 2024 to 2031.

Global Medical Device Packaging Market Dynamics

The key market dynamics that are shaping the Medical Device Packaging Market include:

Key Market Drivers

Regulatory Compliance: The Medical Device Packaging Market is heavily influenced by tight regulatory regulations around the world. Regulatory authorities, such as the FDA and EMA, enforce tight packaging rules to ensure the sterility, safety, and efficacy of medical devices. This needs new packaging solutions that comply with rules, hence promoting market growth.

Technological Advancements: Advancements in packaging materials and procedures move the market forward. Smart packaging, which contains sensors for tracking conditions and assuring product integrity, and sustainable biodegradable materials are examples of innovations that meet the growing demand for innovative and environmentally friendly packaging solutions.

Increase in Healthcare Expenditure: The global rise in healthcare expenditure, driven by ageing populations and the frequency of chronic diseases, has increased demand for medical devices. This, in turn, increases the demand for dependable and efficient packing to ensure that these devices are delivered in a sterile and safe way.

Globalization of Medical Device Manufacturing: The globalization of medical device manufacture, with companies spreading their operations and supply chains across borders, needs strong packaging solutions that can endure long transit distances and changing climatic conditions. This desire for high-quality packaging solutions fuels market expansion.

Key Challenges:

Cost Pressures: The medical device industry is under constant pressure to cut costs while maintaining high levels of quality and safety. The creation of novel, compatible packaging solutions is costly, and balancing cost-efficiency with regulatory constraints and material costs is an ongoing problem that limits market demand.

Sustainability Concerns: As environmental rules tighten and consumer preferences shift towards sustainable products, the medical device packaging industry is under pressure to innovate with eco-friendly materials and procedures. Transitioning to sustainable solutions while maintaining sterility and protection is a big challenge, inhibiting the market’s expansion.

Supply Chain Complexity: The complexity of global supply networks, worsened by geopolitical tensions, trade restrictions, and the COVID-19 pandemic, presents obstacles in material acquisition and completed product distribution. Ensuring timely delivery of high-quality packaging materials while controlling costs and logistics remains a significant concern for the market.

Key Trends:

Sustainability and Eco-friendliness: In the medical device industry, there is an increasing trend towards sustainable packaging options. Companies are increasingly using biodegradable, recyclable materials and designs to reduce their environmental effect, pushed by regulatory demands and consumer demand for eco-friendly products.

Smart Packaging Technologies: The use of smart technologies such as RFID tags, QR codes, and sensors in medical device packaging is in increasing popularity. These advances improve traceability, monitor product integrity, and assure regulatory compliance, resulting in increased value through better safety and convenience.

Customization and Personalization: As medical devices become increasingly specialized, there is a growing demand for customized packaging solutions that are adapted to individual device requirements. This includes custom designs for enhanced protection, user experience, and branding, tailored to the specific requirements of various medical equipment and their end users.

Sterile Barrier Systems Advancements: The development of sophisticated sterile barrier systems is a major trend. These systems are critical for ensuring that medical devices remain sterile until they are used. Materials and sealing technology innovations are improving the efficacy, dependability, and longevity of sterile packaging, while also meeting demanding regulatory standards.

Explore the Durable Medical Equipment Global Market Report 2025 Market trends! Covers key players, growth rate 8.1% CAGR, market size $316.13 Billion, and forecasts to 2033. Get insights now!