Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "Medical Equipment Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
The global medical equipment market reached a value of nearly $647.38 billion in 2022, having grown at a compound annual growth rate (CAGR) of 7.2% since 2017.
The market is expected to grow from $647.38 billion in 2022 to $963.11 billion in 2027 at a rate of 8.3%. The market is then expected to grow at a CAGR of 8.0% from 2027 and reach $1,414.01 billion in 2032.
Growth in the historic period resulted from an increased healthcare expenditure, strong economic growth in emerging markets, growth in the number of healthcare facilities and an increased number of surgical procedures.
Going forward, rapid growth in the elderly population, an increasing prevalence of chronic diseases and government support will drive the growth. Factors that could hinder the growth of the medical equipment market in the future include insufficient public health insurance coverage in developing economies, a shortage of surgeons, stringent government regulations and the Russia-Ukraine war impact.
The medical equipment market is fairly concentrated, with a few large competitors. The top ten competitors in the market made up to 33.22% of the total market in 2021. Medtronic Inc was the largest competitor with 4.96% share of the market, followed by Abbott Laboratories with 4.72%, Johnson & Johnson with 4.71%, Siemens AG with 3.74%, Becton Dickinson and Company (BD) with 3.21%, STRYKER CORPORATION with 2.98%, Cardinal Health with 2.77%, Danaher Corporation with 2.23%, Boston Scientific Corporation with 2.07%, and Koninklijke Philips N.V. with 1.83%.
The top opportunities in the medical equipment market segmented by type will arise in the in-vitro diagnostics segment, which will gain $58.18 billion of global annual sales by 2027. The top opportunities in segment by type of expenditure will arise in the public segment, which will gain $191.57 billion of global annual sales by 2027. The top opportunities in segment by product will arise in the disposables and consumables segment, which will gain $203.30 billion of global annual sales by 2027. The top opportunities in segment by end user will arise in the hospitals and clinics segment, which will gain $279.88 billion of global annual sales by 2027. The medical equipment market size will gain the most in the USA at $74.87 billion.
The report covers the following chapters
- Introduction and Market Characteristics
Brief introduction to the segmentations covered in the market, definitions and explanations about the medical equipment market.
- Key Trends
Highlights the major trends shaping the global medical equipment market. This section also highlights likely future developments in the market.
- Global Market Size and Growth
Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis
Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.
- Market Segmentation
Contains the market values (2017-2032) and analysis for each segment by type, by type of expenditure, by product and by end user in the market.
- Regional Market Size and Growth
Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies
Describes market Opportunities and Strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations
This section Includes recommendations for medical equipment providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Type: In-Vitro Diagnostics; Dental Equipment And Supplies; Ophthalmic Devices; Diagnostic Imaging Equipment; Cardiovascular Devices; Hospital Supplies; Surgical Equipment; Orthopedic Devices; Patient Monitoring Devices; Diabetes Care Devices; Nephrology And Urology Devices; ENT Devices; Anesthesia And Respiratory Devices; Neurology Devices; Wound Care Devices.
2) By Type Of Expenditure: Public; Private
3) By Product: Instruments And Equipment; Disposables And Consumables
4) By End User: Hospitals And Clinics; Homecare And Diagnostic Centers; Other End Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 522 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $647.38 Billion |
| Forecasted Market Value (USD) by 2031 | $1414.01 Billion |
| Compound Annual Growth Rate | 8.1% |
A selection of companies mentioned in this report includes
- Medtronic Inc
- Abbott Laboratories
- Johnson & Johnson
- Siemens AG
- Becton Dickinson and Company(BD)
For more information about this report visit https://www.researchandmarkets.com/r/z3fquf
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