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Pulished Date September, 2021
ID: 12132
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North America Medical devices Market Research Report - Segmented By Type, End-Users & Country (United States, Canada & Rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2021 to 2026)

Pulished: September, 2021
ID: 12132
Pages: 200

North America Medical Devices Market Size (2021 to 2026)

The size of the North American Medical Devices Market is forecasted to be worth USD 158.47 billion in 2021 and USD 195.85 billion by 2026, growing at a CAGR of 4.33% during the forecast period.

The North America medical devices market has grown in recent years due to an increase in the number of healthcare institutions, rapid expansion in the aging population, economic growth in this region, quick technical advancements, and rising healthcare spending. The demand for medical devices in the North American region is expected to be driven by the emergence of serious illnesses on their own, such as the current Coronavirus epidemic. Since the advent of COVID-19 in this nation, demand for medical supplies, in-vitro diagnostic instruments, and respiratory care devices has surged dramatically. The growing absorption of investment in the industry, together with favourable and loosened medical laws on the approval and testing of these devices, are the key driving forces behind the medical device market.

A growth in regional support for the installation and demand of these devices, as well as the economy steadily inching towards post-pandemic hard times, are further expected to continue to the growth rate of the market. The market is also predicted to be swollen during the forecast because of the recent trend of wearable medical devices catching on with a broader consumer base. Over the forecast period, factors such as advanced models being offered by leading market players, the latest features, optimal prices, and rising marketing efforts will move the medical device market forward. Due to the increasing incidence of poor vision and hip fractures in the elderly population, a rapid increase in the geriatric population is complementing the growth of ophthalmic and orthopaedic devices. Through an expanding number of awareness campaigns, healthcare authorities from various countries are concentrating on raising diagnostic and treatment rates. This is causing a surge in medical device demand in this region.

In the last decade, the medical devices market has seen significant changes in terms of new technology and design revisions, among other things. However, the high cost of these devices, which includes both the initial purchase price and continuing maintenance costs, resulting in a higher overall device cost and ownership, is expected to restrain the growth rate of the North American medical devices market during the forecast period.

This research report on the North American medical devices market has been segmented and sub-segmented based on the following categories.

By Type:

  • Orthopaedic Devices
  • Cardiovascular Devices
  • Diagnostic Imaging
  • IVD
  • MIS
  • Wound Management
  • Diabetes Care
  • Ophthalmic
  • Dental
  • Nephrology
  • General Surgery
  • Others

By End-User:

  • Hospital & ASC’s
  • Clinics
  • Others

By Country:

  • United States
  • Canada
  • Rest of North America

Geographically, North American region is predicted to have the greatest market share in the global market during the forecast period. In 2020, North America was the largest region in the global medical devices market, accounting for the largest share. The presence of key market participants in this region, strong healthcare infrastructure, quick acceptance of advanced medical technologies, and favourable regulation surrounding the approval of these devices will all contribute to the market's dominating position over the forecast period. Its dominance is partly due to the presence of adequate and advantageous reimbursement regulations, a well-developed healthcare infrastructure, and rapid adoption of innovative medical technologies. This is exacerbated by the expanding number of patients in the region receiving diagnosis and treatment as a result of the rising incidence and prevalence of chronic diseases. The cost of treating diabetic foot ulcers in the United States was estimated to be around USD 16 billion, according to the Centres for Disease Control and Prevention (CDC). Market participants are aggressively investing in R&D of innovative and easy-to-use medical equipment for the treatment of chronic disorders, citing attempts by healthcare agencies to shift patients to home care settings.

KEY MARKET PARTICIPANTS:

A few of the promising companies dominating the North American medical devices market profiled in this report are Medtronic, Stryker, Fresenius SE & Co. KGaA, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd, General Electric Company, Siemens Healthineers AG, BD, Boston Scientific Corporation, and Johnson & Johnson Services, Inc.

1. Introduction                                                 

            1.1 Market Definition                                       

            1.2 Scope of the report                         

            1.3 Study Assumptions                         

            1.4 Base Currency, Base Year and Forecast Periods        

2. Research Methodology                                             

            2.1 Analysis Design                                           

            2.2 Research Phases                                         

                        2.2.1 Secondary Research                     

                        2.2.2 Primary Research             

                        2.2.3 Data Modelling                            

                        2.2.4 Expert Validation             

            2.3 Study Timeline                                           

3. Report Overview                                                      

            3.1 Executive Summary                        

            3.2 Key Inferences                                            

4. Market Dynamics                                                     

            4.1 Impact Analysis                                          

                        4.1.1 Drivers                            

                        4.1.2 Restraints                        

                        4.1.3 Opportunities                              

            4.2 Regulatory Environment                             

            4.3 Technology Timeline & Recent Trends                     

5. Competitor Benchmarking Analysis                           

            5.1 Key Player Benchmarking                            

                        5.1.1 Market share analysis                  

                        5.1.2 Products/Service             

                        5.1.3 Regional Presence           

            5.2 Mergers & Acquisition Landscape                

            5.3 Joint Ventures & Collaborations                  

6. Market Segmentation                                               

            6.1 North America medical devices market, By Type                  

            6.2   Orthopedic Devices                                   

            6.3 Cardiovascular Devices                               

            6.4 Diagnostic Imaging                         

            6.5 IVD                                                

            6.6 MIS                                                

            6.7    Wound Management                               

            6.8   Diabetes Care                                           

            6.9 Ophthalmic                                    

            6.10 Dental                                          

            6.11   Nephrology                                            

            6.12 General Surgery                                        

            6.13 Others                                         

                        6.13.1 Market Size Estimations & Forecasts (2021-2026)

                        6.13.2 Y-o-Y Growth Rate Analysis                    

                        6.13.3 Market Attractiveness Index       

            6.14 North America medical devices market, By Application       

            6.15 Hospital & ASC’s                                       

            6.16 Clinics                                          

                        6.16.1 Market Size Estimations & Forecasts (2021-2026)

                        6.16.2 Y-o-Y Growth Rate Analysis                    

                        6.16.3 Market Attractiveness Index       

7. Geographical Landscape                                           

            7.1 North America Medical Devices Market, by Region

            7.2 North America - Market Analysis (2021 - 2026)        

                        7.2.1 By Country                                  

                                    7.2.1.1 USA                  

                                    7.2.1.2 Canada             

                        7.2.2 By Type                           

                        7.2.3 By Application                             

8. Key Player Analysis                                                                                                              

8.1 Medtronic

8.1.1 Business Description                    

                             8.1.2 Products/Service             

                             8.1.3 Financials                        

                             8.1.4 SWOT Analysis                             

                             8.1.5 Recent Developments

                             8.1.6 Analyst Overview 

              8.2 Stryker

              8.3 Fresenius SE & Co. KGaA

              8.4 Koninklijke Philips N.V.

              8.5 F. Hoffmann-La Roche Ltd

              8.6 General Electric Company

              8.7 Siemens Healthineers AG

              8.8 BD

              8.9 Boston Scientific Corporation

              8.10 Johnson & Johnson Services, Inc.

9. Market Outlook & Investment Opportunities             

10. Appendix                                                                     

            List of Tables                                        

            List of Figures                             

 

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

 

  1. North America medical devices Market, By Type, From 2021 to 2026 (USD Billion)
  2. North America Orthopaedic Devices Market, By Region, From 2021 to 2026 (USD Billion)
  3. North America Cardiovascular Devices Market, By Region, From 2021 to 2026 (USD Billion)
  4. North America Diagnostic Imaging Market, By Region, From 2021 to 2026 (USD Billion)
  5. North America IVD Market, By Region, From 2021 to 2026 (USD Billion)
  6. North America MIS Market, By Region, From 2021 to 2026 (USD Billion)
  7. North America Wound Management Market, By Region, From 2021 to 2026 (USD Billion)
  8. North America Diabetes Care Market, By Region, From 2021 to 2026 (USD Billion)
  9. North America Ophthalmic Market, By Region, From 2021 to 2026 (USD Billion)
  10. North America    Dental Market, By Region, From 2021 to 2026 (USD Billion)
  11. North America Nephrology Market, By Region, From 2021 to 2026 (USD Billion)
  12. North America  medical devices Market, By End-user, From 2021 to 2026 (USD Billion)
  13. North America Hospital & ASC’s Market, By Region, From 2021 to 2026 (USD Billion)
  14. North America Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  15. North America Others Market, By Region, From 2021 to 2026 (USD Billion)
  16. United States medical devices Market, By Type, From 2021 to 2026 (USD Billion)
  17. United States medical devices Market, By End-user, From 2021 to 2026 (USD Billion)
  18. Canada medical devices Market, By Type, From 2021 to 2026 (USD Billion)
  19. Canada medical devices Market, By End-user, From 2021 to 2026 (USD Billion)

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