Market Size statistics on the Medical Device Manufacturing industry in the US

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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. 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.
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.

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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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.

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

  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 segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of technologies and applications, including cardiovascular device technology, surgical instrument design, surgical robotics systems, 3D printed implants, regulatory device compliance, mobile health applications, biomaterial compatibility testing, medical imaging systems, neurological device implantation, in-vitro diagnosti

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%

Between 2007 and 2021, the revenue generated by the medical devices industry worldwide boomed. In 2007 the sales of medical devices generated revenue of *** billion euros, while by 2021 this figure reached *** billion euros. Revenue from medical devices was forecast to grow even further in the following years, reaching *** billion euros by 2024.

The Single-Use Medical Device Reprocessing Market report segments the industry into By Device Type (Class I Devices, Class II Devices) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). Get five years of historical data alongside five-year market forecasts.

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 […]

Number of Businesses statistics on the Medical Device Manufacturing industry in the US

The Portable Medical Devices Market is Segmented by Product Type (Diagnostic Imaging Systems, Monitoring Devices [Cardiac Monitoring, and More], and More), Component (Sensors, Batteries & Power Modules, and More), Portability Type (Hand-Held, and More), End User (Hospitals, Physician Offices & Clinics, and More), and Geography (North America, Europe, Asia-Pacific and More). The Market Forecasts are Provided in Terms of Value (USD).

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

In 2021, the AI and machine learning medical device market was valued at around *** billion U.S. dollars globally. By 2032, the market was forecast to increase to a value of **** billion U.S. dollars.

Major companies have continued to dominate medical device manufacturing, making strategic acquisitions and heavily investing in research and development (R&D) to boost market share. Industry giants like Johnson & Johnson and Boston Scientific have actively pursued acquisitions to expand their portfolios and strengthen their market positions. Johnson & Johnson's 2022 acquisition of Abiomed fortified its place in treating cardiovascular diseases, and Boston Scientific's 2023 acquisition of Axionics expanded its urology product offerings. At the same time, high demand for healthcare from the aging population has made room for an influx of start-ups. Revenue has been climbing at a CAGR of 1.2% to an estimated $56.4 billion over the five years through 2025, including an expected lift of 3.1% in 2024 alone. Innovation has remained a pivotal element in securing growth for medical device manufacturers. Advances in technology and research have led to the development of sophisticated products that can treat rare chronic conditions and ailments. New smart implantable devices, like Biotronik's Dynagen A3 cardiac defibrillator, enhance physicians' ability to treat patients. Government support has been a solid boon for manufacturers, with initiatives like revamped R&D tax credits fuelling innovation. Medical device manufacturers are increasingly focusing on personalizing products and integrating AI, as seen with Medtronic's Genius GI endoscopy tool, allowing them to cater to specific patient needs and improve healthcare outcomes. Since healthcare professionals are under pressure to use the best tools available, the release of new innovative products has directly spurred sales and pushed revenue upward. Buyers' reliance on effective medical devices gives manufacturers significant control over prices, allowing them to maintain solid profit despite swelling R&D budgets. Demographic changes and technological advancements will continue enabling medical device manufacturers to drive revenue growth. As the median age of the U.S. population climbs, demand for orthopedic and neurological devices will surge. Companies will continue investing heavily in R&D to outpace competition in domestic and international markets. Upcoming regulatory changes and potential tariffs under the second Trump administration could present opportunities and challenges, easing regulations but deterring international trade. Despite these hurdles, revenue is set to outpace the previous period's growth, surging at a CAGR of 2.6% to an estimated $64.3 billion through the end of 2030.

Medical Device Training Market Outlook

The global medical device training market size was valued at approximately USD 1.8 billion in 2023 and is projected to reach USD 3.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% over the forecast period. This significant growth is driven by the increasing complexity of medical devices, the rising adoption of advanced medical technologies, and stringent regulatory requirements necessitating comprehensive training programs for healthcare professionals.

One of the primary growth factors of the medical device training market is the rapid technological advancements in the medical device industry. As new and more complex devices are introduced to the market, there arises a critical need for healthcare professionals to be adequately trained in their use to ensure patient safety and device efficacy. This technological evolution includes the advent of AI-driven diagnostic tools, robotic surgery equipment, and personalized medical devices, all of which require specialized training modules.

Another significant driver is the rigorous regulatory landscape governing medical devices. Regulatory bodies like the FDA in the United States and the European Medicines Agency (EMA) in Europe have stringent requirements for the proper usage and handling of medical devices. Compliance with these regulations often mandates formal training programs for healthcare providers, driving demand in the medical device training market. Additionally, the increasing focus on reducing medical errors and enhancing patient outcomes further underscores the importance of comprehensive training programs.

The growing prevalence of chronic diseases and the rising geriatric population are also contributing to the market's expansion. With an increasing number of patients requiring advanced diagnostic and therapeutic devices, there is a parallel need for healthcare professionals trained in using these devices. Training programs not only ensure that devices are used correctly but also optimize their therapeutic benefits, thereby improving patient care standards. This growing demand for trained professionals is a crucial factor bolstering the market growth.

Regionally, North America holds the largest share of the medical device training market, attributed to the high adoption rate of advanced medical technologies, stringent regulatory requirements, and a well-established healthcare infrastructure. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. Factors such as increasing healthcare expenditure, growing awareness about advanced medical devices, and expanding healthcare infrastructure in emerging economies like China and India are driving this regional growth. Europe and Latin America are also significant markets, driven by similar factors of technological adoption and regulatory compliance.

Training Type Analysis

The medical device training market is segmented by training type into Instructor-Led Training, Online Training, Simulation-Based Training, and Others. Instructor-Led Training remains a predominant segment due to its effectiveness in providing hands-on experience and immediate feedback to the trainees. This type of training is particularly beneficial for complex surgical devices and procedures where real-time interaction with an instructor is crucial. Moreover, the ability to customize training programs to address specific needs of different medical devices further enhances the value of instructor-led sessions.

Online Training is gaining substantial traction, driven by the increasing adoption of digital learning platforms and the need for flexible training solutions. Online modules offer the convenience of self-paced learning, making it easier for healthcare professionals to integrate training into their busy schedules. The COVID-19 pandemic has further accelerated the shift towards online training, as it provides a safe and accessible alternative to in-person sessions. The scalability of online training also makes it a cost-effective solution for institutions looking to train large numbers of staff.

Simulation-Based Training is another segment witnessing robust growth. This type of training employs advanced technologies such as virtual reality (VR) and augmented reality (AR) to create realistic scenarios for hands-on practice. Simulation-based training is particularly effective for high-risk procedures, as it allows trainees to gain experience without the risk of harming actual patients. The increasing adoption of sophisticated medical

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Medical Technologies Market Size 2025-2029

The medical technologies market size is forecast to increase by USD 346.4 billion, at a CAGR of 8% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing prevalence of diseases and the growing use of connected devices and technologies. Public health surveillance and digital therapeutics are transforming disease prevention and treatment, while speech therapy and behavioral health technologies are addressing the growing need for mental health services. The advancements in medical technology are enabling early disease detection and diagnosis, leading to improved patient outcomes and reduced healthcare costs. Furthermore, the integration of technology in healthcare is enhancing the overall patient experience and facilitating remote monitoring and telemedicine services. However, the market faces challenges in the form of declining reimbursement and cost containment measures.
Additionally, regulatory requirements and compliance issues can pose significant challenges for market participants. Companies must navigate these obstacles by focusing on innovation, cost reduction, and regulatory compliance to remain competitive and capitalize on the market's potential. As healthcare costs continue to rise, payers are increasingly looking for cost-effective solutions, which may limit the adoption of advanced medical technologies. Medical regulations and data analytics shape the industry, ensuring compliance and informed decision-making.

What will be the Size of the Medical Technologies 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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The market continues to evolve, driven by advancements in various sectors. Supply chain management optimizes the distribution of surgical instruments, therapeutic devices, and pharmaceutical research products. Robotics in surgery and laser technology enhance minimally invasive procedures, while healthcare IT streamlines medical billing and insurance claims processing. Regulatory affairs ensure safety and efficacy of medical devices, from implantable devices to drug delivery systems. Patient engagement is facilitated through wearable sensors and remote patient monitoring, enabling preventive medicine and chronic disease management. Predictive analytics and precision medicine offer personalized treatment plans, revolutionizing disease management.

Sterilization techniques and hospital management systems maintain high standards of hygiene and efficiency. Medical lasers and radiation therapy provide precise interventions, while medical imaging software and diagnostic imaging offer accurate diagnoses. The ongoing unfolding of market activities shapes the landscape of medical technologies, with distribution channels and public health remaining key considerations. Regenerative medicine holds great potential, with ongoing clinical trials and nanotechnology in medicine pushing the boundaries of healing.

How is this Medical Technologies Industry segmented?

The medical technologies 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.

Application

  Medical devices
  In-vitro diagnostics


End-user

  Hospitals
  Clinics
  Others


Component

  Hardware
  Services
  Software


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Application Insights

The medical devices segment is estimated to witness significant growth during the forecast period. The medical devices market encompasses instruments, apparatus, appliances, materials, and articles utilized for disease diagnosis, prevention, monitoring, treatment, and relief. Major categories include therapeutic and surgical devices, patient monitoring and diagnostic devices (PMDMIDs), and other medical devices. Factors fueling market expansion include the increasing disease prevalence and related risk factors, an aging population, public and private initiatives to promote health awareness, and escalating healthcare expenditures. For instance, the European Union is projected to have approximately 22.4% of its population aged 65 and above by 2024. Quality control is a critical aspect of medical devices, ensuring their safety and effectiveness.

Robotics in surgery and minimally invasive procedures enhance precision and reduce complications. Medical billing and insurance claims processing streamline financial transactions. Medical lasers, pharmaceutical research, and drug delivery systems advance treatment modalities. Health informatics, rem

• 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

BCC Research Market Analyst says global market for medical devices is estimated to increase from 810.4 billion in 2024 to reach $1.3 trillion by 2029, at a CAGR of 9.8%.

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.

According to Future Market Insights research, during the projected period, the global medical device analytical testing outsourcing market is expected to expand at a CAGR of 6.4%. The industry value is projected to increase from USD 5,844 million in 2024 to USD 10,867.3 million by 2034. The industry was valued at USD 5,492.40 million at the end of 2023.

Attributes	Key Insights
Historical Size, 2023	USD 5,492.40 million
Estimated Size, 2024	USD 5,844 million
Projected Size, 2034	USD 10,867.3 million
Value-based CAGR (2024 to 2034)	6.4%

Semi Annual Market Update

Particulars	Value CAGR
H1	7.4% (2023 to 2033)
H2	7.1% (2023 to 2033)
H1	6.4% (2024 to 2034)
H2	5.9% (2024 to 2034)

Country-wise Insights

Countries	Value CAGR (2024 to 2034)
India	8.8%
Spain	4.3%
The United States	3.6%
Canada	3.8%

Category-wise Insights

Service	Extractable and Leachable (E&L) Testing
Value Share (2024)	26.15%

End Use	Medical Device Analytical Testing Outsourcing
Value Share (2024)	81.5%

The medical device packaging market is expanding rapidly as the healthcare industry demands secure, sustainable, and innovative packaging solutions. Manufacturers are advancing technologies to meet the needs of sectors like diagnostics, surgical instruments, and implantable devices. By 2035, this market is projected to exceed USD 72.5 billion, growing at a compound annual growth rate (CAGR) of 5.4%.

Attribute	Details
Projected Value by 2035	USD 72.5 billion
CAGR (2025 to 2035)	5.4%

Market Share & Industry Share

Category	Market Share (%)
Top 3 Players (Amcor, Berry Global, DuPont)	17%
Rest of Top 5 Players (Oliver Healthcare,Tekni-Plex)	09%
Next 5 of Top 10 Players	06%

Type of Player	Market Share (%)
Top 10 Players	32%
Next 20 Players	37%
Remaining Players	6%

Regional Analysis

Region	North America
Market Share (%)	35%
Key Drivers	Focuses on regulatory compliance and technological innovation.

Region	Europe
Market Share (%)	30%
Key Drivers	Leads in sustainable packaging practices and strong healthcare systems.

Region	Asia-Pacific
Market Share (%)	25%
Key Drivers	Rising healthcare investments drive demand for quality packaging.

Region	Other Regions
Market Share (%)	10%
Key Drivers	Growing demand for affordable, durable solutions in emerging markets.

Surgical and Medical Device Market Outlook

The global surgical and medical device market is projected to experience significant growth, with its market size estimated to reach approximately $650 billion by 2023, and a forecasted expansion to $1.1 trillion by 2032, reflecting a compound annual growth rate (CAGR) of approximately 6.3%. This growth is primarily driven by the increasing prevalence of chronic diseases, advancements in medical technology, and the rising demand for minimally invasive surgical procedures. Furthermore, the growing aging population and the expansion of healthcare infrastructure in emerging economies are anticipated to further fuel market growth throughout the forecast period.

One of the key growth factors for the surgical and medical device market is the rapid advancement in medical technology, which has led to the development of innovative and efficient devices. Technological advancements such as robotic-assisted surgeries, augmented reality in the operating room, and the integration of artificial intelligence in diagnostic imaging are transforming the landscape of surgical procedures. These innovations not only enhance the precision and outcomes of surgeries but also reduce recovery times, thereby increasing the demand for advanced surgical devices. Additionally, the continual research and development efforts by manufacturers to introduce cutting-edge products are further propelling market expansion.

The increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, and cancer is another significant driver of the surgical and medical device market. As these conditions often require surgical intervention, the demand for surgical devices and equipment is on the rise. According to the World Health Organization, non-communicable diseases are responsible for 71% of all deaths globally, underscoring the need for effective medical devices to manage these conditions. Furthermore, the growing awareness among patients and healthcare professionals about early disease detection and preventive healthcare is leading to a higher adoption of diagnostic and monitoring devices, further boosting market growth.

The expanding healthcare infrastructure in emerging economies presents a substantial opportunity for the surgical and medical device market. Countries in the Asia Pacific and Latin America regions are witnessing significant investments in healthcare facilities, aimed at improving accessibility and the quality of healthcare services. This expansion is accompanied by an increasing number of healthcare professionals and a growing focus on medical tourism, particularly in countries like India and Thailand. As a result, the demand for surgical and medical devices is expected to rise, providing lucrative opportunities for market players to expand their presence in these regions.

Regionally, North America currently dominates the surgical and medical device market, attributed to the presence of a robust healthcare system, high adoption of advanced technologies, and the presence of key market players. However, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, driven by the factors mentioned earlier, such as expanding healthcare infrastructure and increasing medical tourism. In contrast, Europe is expected to experience steady growth, supported by the well-established healthcare sector and the rising geriatric population necessitating medical interventions. Meanwhile, the Middle East & Africa region is projected to witness moderate growth due to improving healthcare systems and investments in healthcare infrastructure.

The market for Used Medical Device Sales is also gaining traction as healthcare facilities and smaller clinics look for cost-effective solutions to equip their operations. This segment is particularly appealing in emerging markets where budget constraints often limit the acquisition of brand-new equipment. Used medical devices offer a viable alternative, providing essential functionalities at a fraction of the cost. Additionally, the refurbishment and resale of medical devices contribute to sustainability efforts by extending the lifecycle of equipment and reducing electronic waste. As the demand for healthcare services continues to rise, the market for used medical devices is expected to grow, offering opportunities for both sellers and buyers in the industry.

Product Type Analysis

The product type segment of the surgical and medical devic

The global medical devices market was valued at USD 562.60 Billion in 2024 driven by the prevalence of chronic diseases and technological advancement across the globe. The market is expected to grow at a CAGR of 6.20% during the forecast period 2025-2034 and attain a market value of USD 1026.70 Billion by 2034.