North America Medical Device Technology Market

North America Medical Device Technology Market Size (2023 to 2028):

The size of the North America Medical Device Technology Market has been predicted at USD 211.79 Million in 2023. This value is forecasted to reach USD 276.93 Million by 2028, growing at a CAGR of 5.51% between 2023 to 2028.

Y-O-Y growth in the incidence of chronic diseases and aging people are significantly increasing the need for medical device Technology. Technology advancements, increasing government funds and investments, and growing demand for new medications to overcome the unsatisfied medical needs in healthcare are further assisting the medical devices market. The rise in the elder people population is adding fuel to the growth rate of market growth. More than 6,500 medical device companies exist in the United States, involving both small and medium-sized enterprises, which is to fuel the demand of this market. Besides, the rising scale of the hospitals in developed and developing countries is leveling up the growth rate of the market. 

Increasing maintenance and installation cost of the devices is hindering the growth rate of the market. Also, reluctance to adopt the latest technologies in undeveloped countries is impeding the demand of the market.

This research report on the North America Medical Device Technologies Market has been segmented and sub-segmented into the following categories.

By Device Type:

• Electro-medical Equipment
  • Pacemakers
  • MRI Systems
  • Patient Monitoring System
  • Ultrasonic Scanning System
  • Diagnostic Imaging System
• Irradiation Apparatus
  • X-Ray Devices
  • Tomography Devices
  • Surgical And Medical Apparatus
• Dental Apparatus
  • Dentists
  • Dental Hygienists
  • Laboratories
• In Vitro Diagnostics (IVD) Devices
• Kidney/Dialysis Devices
• Diagnostic Imaging Devices
• Ophthalmology Devices
• Orthopedic Devices
• Endoscopy Devices
• Diabetes Care Devices
• Anaesthesia & Respiratory Care Devices
• Wound Management Devices

By Technology:

• Biomarkers
• Bio-implants
• Molecular Diagnostics

By Country: 

• The United States
• Canada
• Rest of North America

Regional Analysis:

Geographically, North America is expected to have the largest share in the medical device technology market during the analysis period. Factors like deep-rooted healthcare infrastructure, quick obtainment of novel medical technology are to impel the medical device technology market during the forecast period. The United States is leading the market shares in recent years. The medical device industry has displayed justifiable and robust growth in the recent past. Adopting sedentary lifestyles and food habits changes are causing severe health disorders, increasing the growth rate of this market. The top medical device technology companies are in the United States, like Johnson & Johnson Medical Devices & Diagnostics, which propel the medical device technology market growth. In Canada, there is massive support from government organizations to develop innovative medical devices in favor of the end-users, which is significantly prompting the market's growth rate. Growing old aged people and increasing expenses on healthcare are solely leveraging the demand of the market.  

Promising Companies leading the North America Medical Device Technologies Market Profiled in the Report are Abbott Laboratories, Inc., Becton, Dickinson and Company, GE Healthcare, Novartis Diagnostics, bioMerieux, Inc., Biomerica, Inc., Johnson and Johnson Diagnostics, Inc., Olympus Corporation, Qiagen N.V., Siemens AG, Thermo Fischer Scientific, Inc., and Zenith Healthcare Ltd.