Global Medical Equipment market size is expected to reach $1183.02 billion by 2029 at 8.9%, segmented as by type, in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices

Between 2017 and 2022, the U.S. medical technology market is expected to grow from *** billion U.S. dollars in 2017 to a size of *** billion U.S. dollars in 2022. This statistic depicts the global medical technology market size in 2017 and a forecast for 2022, by major country.

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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 diseases and the emergence of innovative medical technologies.

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, regulatory requirements, and changing healthcare trends. Evolving patterns in the market include the integration of personalized medicine, regulatory approvals, and clinical validation in the development of new devices. Minimally invasive surgery and drug delivery systems are gaining popularity due to their ability to improve patient outcomes and reduce recovery time. Medical robotics, government agencies, and big data analytics are revolutionizing surgical procedures, while regenerative medicine and biocompatible materials are paving the way for innovative medical implants. Service and support, quality management, and machine learning are essential components of the medical device industry, ensuring patient safety and regulatory compliance.

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

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Remote patient monitoring, distribution networks, and diagnostic imaging are transforming healthcare delivery, enabling precision medicine and digital health. Cardiovascular devices, insurance companies, contract manufacturers, and artificial intelligence are also key players in the market, contributing to research and development and supply chain management. Three-dimensional (3D) printing is revolutionizing the manufacturing process, allowing for the production of complex and customized medical devices. Wearable technology and medical implants are increasingly being adopted by healthcare providers, offering patients greater convenience and improved health outcomes. The ongoing unfolding of market activities in these areas underscores the dynamic nature of the medical devices industry. The clinics segment is the second largest segment of the end-user and was valued at USD 104.10 billion in 2023.

The rise in chronic diseases, such as diabetes and cardiovascular conditions, is fueling the demand for advanced medical devices that can improve patient outcomes and quality of life. Moreover, technological advancements, including the integration of artificial intelligence and machine learning, are revolutionizing medical devices, enabling more accurate diagnoses and personalized treatments. However, this market is not without challenges. The implementation of stringent cost containment measures and declining reimbursement rates pose significant obstacles for market players. As healthcare systems seek to reduce costs, medical device manufacturers must find ways to make their products more affordable without compromising quality.

Additionally, regulatory compliance remains a critical challenge, with stringent regulations governing the design, development, and marketing of medical devices. Companies must invest heavily in research and development to ensure their products meet the highest safety and efficacy standards. To capitalize on market opportunities and navigate these challenges effectively, medical device manufacturers must stay abreast of industry trends and regulatory requirements, and focus on delivering innovative, cost-effective solutions that 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

  Cardiovascular
  Orthopedic
  Diagnostic imaging
  Dental
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The hospitals and ascs segm

The global medical biomimetics market garnered a market value of US$ 32.10 Billion in 2023 and is expected to accumulate a market value of US$ 63.15 Billion by registering a CAGR of 7% in the forecast period 2023 to 2033. The growth of the medical biomimetics market can be attributed to increasing government funding for research pertaining to biomimetics, along with the adoption and innovations of medical engineering and nanotechnology in healthcare. The market for medical biomimetics registered a CAGR of 5% in the historical period 2016 to 2021.

Report Attribute	Details
Expected Market Value (2023)	US$ 32.10 Billion
Anticipated Forecast Value (2033)	US$ 63.15 Billion
Projected Growth Rate (2023 to 2033)	7% CAGR

Report Scope

Report Attribute	Details
Market Value in 2023	US$ 32.10 Billion
Market Value in 2033	US$ 63.15 Billion
Growth Rate	CAGR of 7% from 2023 to 2033
Base Year for Estimation	2021
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD Billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type Application Region
Regions Covered	North America Latin America Europe South Asia East Asia Oceania Middle East and Africa
Key Countries Profiled	USA Canada Brazil Mexico Germany United Kingdom France Spain Italy India Malaysia Singapore Thailand China Japan South Korea Australia New Zealand GCC Countries South Africa
Key Companies Profiled	Otsuka Medical Devices Group Stryker Abbott AVINENT Science and Technology SynTouch Inc. Osteopore International Pte Ltd Vandstrom, Inc. Biomimetics Technologies Inc Swedish Biomimetics 3000 ApS Keystone Dental Group LifeMatrix Curasan, Inc. CorNeat Vision NanoHive Medical LLC Zimmer Biomet
Customization	Available Upon Request

The Global Medical Devices Outsourcing market is expanding at a healthy growth rate of 13% due to the increasing tendency of OEMs to outsource various stages of production and development. The market is further driven by the growing demand for cost-effective and high-quality medical devices, coupled with the rising prevalence of chronic diseases. Additionally, the […]

According to Cognitive Market Research, the global Medical Device Connectivity market size will be USD 2.80 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 20.73% from 2024 to 2031. Market Dynamics of Medical Device Connectivity Market Key Drivers for Medical Device Connectivity Market Rising Internet of Things (IoT) Integration- The integration of medical devices into IoT ecosystems drives connectivity growth by enabling real-time data transmission, remote monitoring, and seamless interoperability across healthcare systems. IoT connectivity enhances patient care through continuous monitoring and predictive analytics, improving treatment outcomes and operational efficiencies in hospitals and clinics. The increasing demand for remote patient monitoring and healthcare delivery solutions is anticipated to drive the Medical Device Connectivity market's expansion in the years ahead. Key Restraints for Medical Device Connectivity Market Compatibility issues hinder seamless integration among diverse medical devices in the Medical Device Connectivity industry growth. Stringent regulations limit data sharing and connectivity expansion related to data security and privacy impact market growth. Introduction of the Medical Device Connectivity Market Medical Device Connectivity includes the increasing adoption of electronic health records (EHRs) and healthcare information systems (HIS), which necessitate seamless integration with medical devices for real-time data exchange and interoperability. This integration enhances clinical workflow efficiency, patient monitoring capabilities, and data-driven decision-making in healthcare settings. Additionally, the rise of telemedicine and remote patient monitoring fuels demand for connected medical devices that facilitate remote diagnostics and patient care, especially in managing chronic conditions and improving healthcare access. Regulatory initiatives promoting interoperability standards and data security further stimulate market growth by encouraging healthcare providers to invest in connectivity solutions that ensure patient safety and compliance with healthcare regulations.

Global Medical Software market size is expected to reach $116.66 billion by 2029 at 14.6%, segmented as by electronic health records (ehr), cloud-based ehr, on-premise ehr, ehr for small practices, ehr for large healthcare institutions

Medical Device Training Services Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period from 2024–2031.

Global Medical Device Training Services Market Drivers

The market for medical device training services is influenced by several drivers, including:

Technological Advancements: Rapid advancements in medical technology lead to the introduction of new medical devices. As these devices become increasingly complex, the need for comprehensive training becomes crucial. Regulatory Compliance: Healthcare regulations often require proper training on the usage of medical devices to ensure compliance with safety and effectiveness standards. Organizations must ensure their staff is trained to meet regulatory requirements, driving demand for training services. Growing Healthcare Sector: The expansion of the healthcare sector, including hospitals, clinics, and outpatient facilities, increases the need for medical device training services as new facilities and personnel are onboarded.

Global Medical Device Training Services Market Restraints

The Medical Device Training Services Market, like any sector, faces several market restraints that can impact its growth and sustainability. Here are some key restraints to consider:

Regulatory Challenges: Medical devices are subject to stringent regulations by agencies like the FDA in the U.S. or the EMA in Europe. Compliance with these regulations can be complex and costly, potentially hindering the market's growth. High Costs of Training Programs: Setting up and maintaining training programs can be expensive. Companies may hesitate to invest in extensive training, especially smaller organizations with limited budgets. Technological Advancements: Rapid technological advancements in medical devices can make training programs quickly outdated. This requires continuous updates and adaptations in training materials and methods, which can strain resources.

The global medical equipment maintenance market is approximated at a value of US$ 47.8 billion in 2024 and is forecasted to expand at a CAGR of 7.5% to reach US$ 98.6 billion by 2034-end.

Report Attribute	Detail
Medical Equipment Maintenance Market Size (2024E)	US$ 47.8 Billion
Forecasted Market Value (2034F)	US$ 98.6 Billion
Global Market Growth Rate (2024 to 2034)	7.5% CAGR
South Korea Market Value (2034F)	US$ 5.3 Billion
Surgical Instrument Demand Growth Rate (2024 to 2034)	8.4% CAGR
Key Companies Profiled	Canon Medical Systems Corporation; Zimmer Biomet; General Electric; Koninklijke Philips N.V.; Siemens Healthcare GmbH; Medtronic; Carestream Health; Shimadzu Corporation; Agfa-Gevaert HealthCare; Olympus Corporation; Boston Scientific Corporation; Viatronix, Inc.; Terarecon, Inc.; Agenor Mantenimientos; Hoya Corporation; Smith+Nephew; Richard Wolf GmbH; KARL STORZ.

Country-wise Analysis

Attribute	United States
Market Value (2024E)	US$ 5.1 Billion
Growth Rate (2024 to 2034)	7.9% CAGR
Projected Value (2034F)	US$ 10.9 Billion

Attribute	Japan
Market Value (2024E)	US$ 3.1 Billion
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 6.7 Billion

Category-wise Analysis

Attribute	Imaging Equipment
Segment Value (2024E)	US$ 13.7 Billion
Growth Rate (2024 to 2034)	7.6% CAGR
Projected Value (2034F)	US$ 28.5 Billion

Medical Robots Market size was valued at USD 16.15 Billion in 2024 and is projected to reach USD 46.83 Billion by 2031, growing at a CAGR of 14.23% from 2024 to 2031.

Global Medical Robots Market Drivers

Aging Population and Increased Demand for Eldercare: As the world's old population grows, so does the demand for medical robots to help with caring and healthcare delivery. According to the World Health Organization, the proportion of the global population over the age of 60 will nearly double between 2015 and 2050, from 12% to 22%. This generational trend is likely to drive up demand for medical robots in assisted living facilities and home care settings.

Rising Prevalence of Chronic Diseases: The rising frequency of chronic diseases is driving the use of medical robots for accurate surgeries and therapies. According to the Centers for Disease Control and Prevention (CDC), 6 in 10 persons in the United States have at least one chronic disease, and 4 in 10 have two or more. This increasing prevalence is driving up demand for minimally invasive robotic operations, which provide better results and faster recovery periods.

Shortage of healthcare workers: The global lack of healthcare experts is hastening the deployment of medical robots to assist and augment human capabilities. The World Health Organization predicts a shortage of 18 million health workers by 2030, especially in low- and lower-middle-income nations. Medical robots can help eliminate the shortfall by aiding with mundane chores, freeing up healthcare personnel to focus on more sophisticated patient care activities.

The Medical Device Contract Manufacturing Market is Segmented by Device (In-Vitro Diagnostic Devices, Drug-Delivery Devices {Syringes, Pen Injectors, and More} and More), Service (Device Development & Manufacturing Services {Device Engineering, and More}, Quality Management Services, and More), and Geography (North America, Europe, Asia-Pacific, and More). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

Global Medical Assistive Technologies Market Size, market Share, Trends, Outlook and Analysis 2025 By End-User, By Region, Competition, Forecast, Opportunities.

The global medical device connectivity market is projected to grow at a CAGR of 22% from 2025 to 2030. This growth is propelled by the surge in healthcare digitization, an increasing need for real-time patient monitoring, and regulatory mandates emphasizing data integration and interoperability across healthcare systems. Medical device connectivity enhances clinical workflows, enabling seamless […]

Global Medical Device Material Market, Global Medical Device Material Market Size, Global Medical Device Material Market Trends, Global Medical Device Material Market Forecast, Global Medical Device Material Market risks, Global Medical Device Material Market Report, Global Medical Device Material Market Share

The global medical foam market size was valued at USD 32.68 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 53.49 Billion by 2033, exhibiting a CAGR of 5.35% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of over 38.6% in 2024. The market is primarily driven by the significant advancements in medical foam technology, increasing regulatory approvals, and growing demand for dermatological treatments ensuring safety compliance, enabling innovative solutions, addressing diverse clinical needs, and enhancing patient comfort and treatment outcomes.

Medical Robots Market Report is Segmented by Product Type (Surgical, Rehabilitative, and More), Component (Robotics Systems, Instruments, Services, Software), Application (General Surgery, Orthopedics, Neurosurgery, and More), Application(general Surgery, Orthopedic Surgery, and More), End User (Hospitals, Ascs, and More), Automation Level, and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Medical Scrubs Market size is growing with a CAGR of 6.5% in the prediction period and it crosses USD 80.29 Bn by 2032 from USD 51.64 Bn in 2025.

Medical Device Connectivity Market, Medical Device Connectivity Market Size, Medical Device Connectivity Market Trends, Medical Device Connectivity Market Forecast, Medical Device Connectivity Market risks, Medical Device Connectivity Market Report, Medical Device Connectivity Market Share

This statistic shows the global market size for artificial intelligence in healthcare in 2016, 2017 and a forecast for 2025. It is estimated that over this period the market will increase from roughly one billion to more than 28 billion U.S. dollars.

Global Medical Device Simulation is segmented by Application (Healthcare Training, Surgical Planning), Type (Virtual Reality, Augmented Reality) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)