This statistic shows a forecast of the total production value of the global medical device industry from 2015 to 2020. In 2018, medical device production worldwide is expected to reach a value of approximately 786 billion U.S. dollars.

The global Medical Device Cleaning Market to reach USD 7.3 billion by 2025. The research report provides market size, segmentation & dynamics, analytical overview, growth factors, and vendor insights. The disinfection segment is expected to observe an incremental growth of over USD 1.5 billion by 2025.

In 2023, sports and fitness applications among the global wearable healthcare devices market was worth around *** billion U.S. dollars, with medical diagnosis applications worth around *** billion U.S. dollars. By 2029, sports and fitness wearable devices were forecast to grow to almost **** billion U.S. dollars.

Medical Device And Accessories Market size was valued at USD 1.5 Billion in 2023 and is projected to reach USD 3.3 Billion by 2031, growing at a CAGR of 7.8% during the forecast period 2024-2031.

Global Medical Device And Accessories Market Drivers

The market drivers for the Medical Device And Accessories Market can be influenced by various factors. These may include:

Technological Advancements: The medical device and accessories market is primarily driven by rapid technological advancements. Innovations in materials, miniaturization, and electronic enhancements facilitate the development of sophisticated healthcare products. For instance, the integration of artificial intelligence (AI) and machine learning in imaging devices improves diagnostic accuracy and patient outcomes. Additionally, the rise of telemedicine has spurred demand for wearable devices that monitor health remotely, enhancing patient engagement and compliance. Companies continuously invest in R&D to create next-generation devices that provide better functionality, reliability, and user-friendliness, thereby fostering competitive differentiation and market growth.

Increasing Aging Population: The global increase in the aging population significantly drives the medical device and accessories market. As people age, they often experience chronic health conditions, necessitating advanced medical care and devices for management. The World Health Organization (WHO) projects that the number of individuals aged 65 and older will double from 2020 to 2050, leading to a rise in demand for orthopedic implants, cardiovascular devices, and monitoring tools. This demographic shift not only escalates healthcare costs but also propels innovations in geriatric care solutions, ensuring that healthcare systems evolve to accommodate the needs of an older population.

Global Medical Device And Accessories Market Restraints

Several factors can act as restraints or challenges for the Medical Device And Accessories Market. These may include:

Regulatory Challenges: The medical device and accessories market is heavily regulated, which can impede innovation and market entry for new products. Compliance with stringent regulations set by agencies like the FDA in the U.S. and the EMA in Europe can be time-consuming and costly. Manufacturers must undergo rigorous testing and approval processes, including pre-market submissions and post-market surveillance. These requirements can delay the introduction of new devices, limit the scope of development, and increase expenditure. Smaller companies, in particular, may struggle to navigate these complex regulatory landscapes, hindering their ability to compete with larger firms that have more resources.

High R&D Costs: Research and development (R&D) costs for medical devices are substantial, often requiring significant investment in technology, material testing, and clinical trials. The financial burden associated with R&D can deter new entrants and impede market expansion. For established companies, the need to continuously innovate to stay competitive can strain budgets. Many devices require years of research before gaining regulatory approval, further inflating costs. Additionally, the high failure rate in medical device development can lead to losses that discourage investment. Consequently, the high R&D costs can create barriers to entry and diminish the overall growth potential of the market.

Medical device cleaning market is segmented into surgical instruments, endoscope. Market is estimated to grow at a significant CAGR during the forecast period, 2020-2030. Medical device cleaning market report by BIS Research provides deep market insight that will help your business to grow.

The Report Covers Global Connected Medical Devices Manufacturers and the Market is Segmented by Application (Consumer (Patient) Monitoring, Wearable Devices, Internally Embedded Devices, and Stationary Devices) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are in Terms of Value (USD Million) for all the Above Segments.

Global Mobility Aid Medical Devices Market was valued at USD 5.32 Billion in 2024 and is expected to reach USD 6.95 Billion by 2030 with a CAGR of 4.75%.

The global medical device cleaning market is projected to expand at a substantial CAGR during the forecast period, 2020-2027. The growth of the market is attributed to increasing adoption of preventive measures to decrease rate of hospital-acquired infections.
Medical devices are required to be sterile to offer optimum safety to the patients and avoid the possibility of infections at the site of wounds and incisions. Moreover, cleaning of the surgical instruments is more crucial as compared to cleaning other devices. The surgical instruments are stained with blood, pus, tissue, organic materials, and others which may lead to further infections to others. Therefore, to cleaning these instruments disinfectants are utilized by healthcare workers.

Market Trends, Drivers, Restraints, and Opportunities:

• Increasing geriatric population is anticipated to drive the market growth during the forecast period.
• Growing number of advanced materials & methods for reprocessing of medical equipment is projected to propel the overall demand in the coming years.
• Strict regulations for reprocessing reusable medical equipment to reduce incidence of hospital-acquired infections are projected to bolster the market growth during the projected timeline.
• Rising number of hospitals & clinics is estimated to augment the market growth in the coming years.
• The market growth between 2019 and 2020 has been affected due to the adverse impact of the COVID-19 pandemic and the trend is expected to continue till mid-2021.
• Growing R&D activities by key players are estimated to generate lucrative market opportunities for the overall market growth over the forecast period.

Scope of the Report:

The CAGR of IoT Medical Devices market is expected to be around 25% during 2020-25, says MarkNtel Advisors.

The Implantable Medical Devices Market size was valued at USD 108.44 Billion in 2024 and is projected to reach USD 179.73 Billion by 2032, growing at a CAGR of 6.52% from 2026 to 2032.

Global Implantable Medical Devices Market Dynamics

The key market dynamics that are shaping the global implantable medical devices market include:

Key Market Drivers:

Aging Population: The aging population drives demand for implantable medical devices. According to the World Health Organization, the proportion of the global population over the age of 60 is anticipated to nearly double between 2015 and 2050, from 12% to 22%. This demographic change is increasing the prevalence of age-related illnesses, many of which require implanted devices.

Increasing Healthcare Expenditure: Global healthcare spending is increasing, leading to higher adoption of modern medical technologies. The Centers for Medicare & Medicaid Services predicted that national health spending in the United States would increase at an average annual rate of 5.4% between 2019 and 2028, reaching $6.2 trillion by 2028.

Technological Advancements: Technological advancements in implanted devices are improving patient outcomes. In 2020, the US Food and Drug Administration (FDA) authorized 59 innovative medical devices, many of which were implantable, demonstrating the field's rapid advancement.

Key Challenges:

Biocompatibility and Material Selection: To avoid unpleasant reactions like inflammation or rejection, implantable medical devices (IMDs) must be made from materials that are compatible with the human body. Biocompatibility testing and improvements in biomaterial science are continuing efforts to enhance safety and performance.

Patient Acceptance and Psychological Impact: Patients' acceptance of IMDs can vary depending on factors such as surgery, device visibility, and psychological effects. Educating patients and healthcare providers on the benefits and risks of IMDs is critical for making educated decisions and increasing patient acceptance rates.

Surgical Techniques and Implantation Procedures: IMD implantation involves precise surgical skills and techniques to reduce damage and infection risks while also ensuring the correct location within the body. Advances in minimally invasive surgery and robotic-assisted techniques are helping to resolve these challenges.

Cost and Affordability: The development and production of IMDs incur significant research, manufacturing, and regulatory expenditures, which might have an impact on patient affordability and accessibility. Balancing innovation with cost-effectiveness is an ongoing challenge.

Key Trends:

Wireless Connectivity and Remote Monitoring: Implantable Medical Devices (IMDs) with wireless connectivity can transmit real-time data to healthcare providers, which improves remote monitoring capabilities. This movement promotes proactive healthcare management, early intervention, and individualized therapy adjustments based on patient-specific information.

Smart Implants and Artificial Intelligence: Advances in AI are encouraging the creation of smart implants that can respond adaptively and regularly. These implants can automatically monitor physiological data, detect anomalies, and alter therapy, thereby enhancing treatment efficacy and patient outcomes.

Patient-Centric Design: There is a trend toward creating IMDs that prioritize patient comfort, aesthetics, and usability. User-friendly interfaces, ergonomic designs, and integrated patient feedback all help to increase therapy acceptance and adherence.

Global Market Expansion: The IMD market is growing due to rising healthcare costs, aging populations, and an increasing prevalence of chronic diseases. Emerging countries in Asia-Pacific and Latin America offer growth possibilities for IMD producers, driven by improved healthcare infrastructure and expanding patient.

• Global Medical Devices Coatings Market

Global Medical Devices Coatings Market is estimated to be valued US$ XX.X million in 2019. The report on Medical Devices Coatings Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global medical devices coatings market is segmented on the basis of type, application, and geography.

Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Read More

Market Overview:

The global wearable medical device market is expected to grow at a CAGR of 10.5% from 2022 to 2030. The growth in the market can be attributed to the increasing prevalence of chronic diseases, the growing geriatric population, and technological advancements in wearable medical devices. The global wearable medical device market is segmented by type into smart rings and watches, wearable diagnostic equipment, and wearable therapeutic equipment. The diagnostic equipment segment is expected to grow at the highest CAGR during the forecast period owing to the increasing demand for point-of-care diagnostics. By application, the adult segment accounted for the majority of the share in 2016 and is projected to maintain its dominance during the forecast period.

Product Definition:

A wearable medical device is a device that can be worn by a patient to collect data or deliver therapy. The data collected by the wearable medical device can be used to monitor the patient's health, diagnose an illness, or treat a condition.

Smart Rings and Watches:

Smart rings and watches are wearable medical devices that can be used to monitor vital signs such as heart rate, blood oxygen level, body temperature, etc. These products are gaining popularity owing to the increasing incidences of lifestyle diseases such as high blood pressure, diabetes, and obesity.

Wearable diagnostic equipment:

Wearable diagnostic equipment is a type of medical device that can be worn on the body and used to diagnose or monitor health conditions. These devices may include sensors that measure vital signs, heart rate, blood pressure, and other physical parameters. They may also include cameras or other sensors that can be used to capture images or data.

Wearable therapeutic equipment:

Wearable therapeutic equipment is a type of medical device that can be worn on the body and used to treat medical conditions. These devices may include sensors that measure vital signs, heart rate, blood pressure, and other physical parameters. They may also include actuators or motors that are used to deliver treatments such as massage therapy, heat therapy, Electrical Stimulation Therapy, or medication delivery.

Application Insights:

The application segment includes adults and children. The adult segment held the largest share of over 70.0% in 2019 owing to the increasing prevalence of chronic diseases such as diabetes, cardiac disorders, cancer, and respiratory problems among adults. Moreover, a rise in sports activities has led to an increase in injuries which is expected to boost demand for wearables for healthcare applications among adults during the forecast period. The growing popularity of smart jewelry among women aged between their 20s and 40s are expected to drive demand for these devices during the forecast period as these jewelry items are considered fashionable accessories along with being functional medical devices that can monitor various health parameters remotely via Bluetooth connectivity without exposing patients to additional risks or costs associated with hospitalization or surgical procedures.

Regional Analysis:

North America dominated the global wearable medical device market in terms of revenue share in 2020. The region is expected to continue its dominance over the forecast period owing to the increasing geriatric population, which requires constant monitoring and high-tech treatment. In addition, the growing adoption of Fitness Technology by consumers is anticipated to boost demand for smart wearable devices in this region. Asia Pacific is expected to witness lucrative growth over the forecast period due to rising disposable income coupled with improving healthcare infrastructure and awareness regarding advanced diagnostic technologies among patients; these factors are likely to drive regional market growth during the forecast period. Moreover, government initiatives promoting healthy lifestyles are also contributing toward industry expansion across this region.

Growth Factors:

• Increasing demand for wearable medical devices from the geriatric population.
• Rising prevalence of chronic diseases and disorders.
• Technological advancements in the field of wearable medical devices.
• Growing awareness about the benefits of using wearable medical devices.
• Increasing funding for research and development activities in the field of wearable medical devices.

Report Scope

The global medical device contract manufacturing market size was valued at USD 73.31 billion in 2020 and is expected to reach USD 132.4 billion by 2026, growing at a CAGR of 10%.

• PVD Medical Device Market Scope:

Global PVD Medical Device Market is estimated to be valued US$ XX.X million in 2019. The report on PVD Medical Device Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global pvd medical device market is segmented on the basis of type, application, and geography.

In 2019, the North America market is valued US$ XX.X million and the market share is estimated X.X%, and it is expected to be US$ XX.X million and X.X% in 2029, with a CAGR X.X% from 2020 to 2029. Read More

BCC Research Market Analyst says global market for medical devices reached $739.6 billion in 2023 & expected to grow from $810.4 billion in 2024 to $1.3 trillion by the end of 2029 at a CAGR of 9.8%.

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.

Country-wise Analysis

Category-wise Analysis

• Global Home Medical Equipments Market

Global Home Medical Equipments Market is estimated to be valued US$ XX.X million in 2019. The report on Home Medical Equipments Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global home medical equipments market is segmented on the basis of type, application, and geography.

In 2019, the North America market is valued US$ XX.X million and the market share is estimated X.X%, and it is expected to be US$ XX.X million and X.X% in 2029, with a CAGR X.X% from 2020 to 2029. Read More

• Adhesives for Wearable Medical Device Market Scope:

Global Adhesives for Wearable Medical Device Market is estimated to be valued US$ XX.X million in 2019. The report on Adhesives for Wearable Medical Device Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global adhesives for wearable medical device market is segmented on the basis of type, application, and geography.

Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Read More

• Global Automatic Medical Devices Cleaning Market

The report on Automatic Medical Devices Cleaning Market offers in-depth analysis of market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report includes the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forecast years. The global automatic medical devices cleaning market is segmented on the basis of type, application, and geography.

The global Automatic Medical Devices Cleaning market is estimated to be US$ XX.X Mn in 2019 and is projected to increase significantly at a CAGR of x.x% from 2020 to 2028. Read More

Market Overview:

The global medical device coating market is expected to grow at a CAGR of 6.5% from 2022 to 2030. The growth in this market can be attributed to the increasing demand for coated medical devices due to their superior properties, such as improved biocompatibility, lubricity, and adhesive properties. In addition, the growing awareness about the benefits of coated medical devices is also contributing to the growth of this market. The Dry Lubricants coating segment is expected to account for the largest share of the global medical device coating market in 2022. This segment is projected to grow at a CAGR of 7% from 2022to 2030.

Product Definition:

Medical device coating is a process that helps protect medical devices from the environment and other elements. The coating can be made of a variety of materials, including plastics, metals, and composites.

Dry Lubricants Coating:

Dry lubricants coating is a dry process lube applied to the surface of medical devices. It reduces friction between two surfaces and helps in reducing the wear & tear of the device. The product has high demand in the medical device coating industry due to its several properties such as being non-toxic, environment-friendly, cost-effective, and easy application.

Adhesive Coating:

The adhesive coating is a method of applying a thin film or layer of adhesive to one or more surfaces. The process can be used for various applications including medical device coatings, food packaging, and the textile industry among others. In the medical devices industry, it is widely used in the production of surgical instruments and implants where it helps in providing protection from corrosion as well as improves aesthetics by making them look like new.

Super-Hydrophilic Coating:

The super-hydrophilic coating is a type of hydrophobic coating that can be used on medical devices to increase their water repellency. This makes them less likely to become wet and contaminated, which can lead to improved patient safety.

Application Insights:

The non-implant medical device segment led the global market in 2014 and is expected to continue its dominance over the forecast period. This can be attributed to the increasing usage of non-implant devices such as gloves, masks, swabs, and drapes among others. Implants medical devices are further classified into two categories which include spinal implants and cardiac pacemakers & defibrillators. Increasing demand for Cardiac Implants owing to the rising geriatric population across the globe is expected to drive the growth of this segment over the forecast period. The implantable Cardiovascular Devices category includes heart valves used in replacement procedures as well as artificial organs that assist with life support functions after a person has suffered from a heart attack or aneurysm rupture surgery respectively.

Regional Analysis:

North America dominated the global market in terms of revenue share in 2020. The region is expected to continue its dominance over the forecast period owing to factors such as an increasing geriatric population, high prevalence of chronic diseases, and rising healthcare expenditure. In addition, growing medical tourism due to lower treatment costs is also anticipated to drive demand for medical devices resulting in increased coating usage. Asia Pacific regional market was valued at USD X million in 2020 and is expected to witness lucrative growth over the forecast period owing to rapid economic development coupled with improving healthcare infrastructure and awareness among end-users regarding benefits offered by these products. Europe accounted for a significant share of global volume sales on account of the presence of major implantable medical device manufacturers including Arthrex Inc.

Growth Factors:

• Increasing demand for minimally invasive surgeries: The number of minimally invasive surgeries is increasing due to various factors such as shorter hospital stays, lesser pain, and quicker recoveries. This is driving the demand for medical devices that are coated with coatings that improve their performance and reduce the risk of infection.
• Growing prevalence of chronic diseases: The prevalence of chronic diseases such as cancer, heart disease, and diabetes is growing at an alarming rate across the world. This is leading to an increase in the demand for advanced medical devices that can help in the early diagnosis and treatment of these diseases. Medical device coatings play a key role in improving the performance and lifespan of these devices.
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