US Medical Devices Market Outlook to 2027
by type (Orthopaedic, Cardiovascular, Diagnostic Imaging devices, IVD Devices, MIS Devices, Nephrology Devices, Wound Care, Diabetes Care), by End-User (Hospital, ambulatory service centres, clinics & others)
Region:North America
Author(s):Rishita Trivedi
Product Code:KROD174
May 2023
70
About the Report
The report provides a comprehensive analysis of the potential of US Medical Device The report covers an overview and genesis of the industry, market size in terms of revenue generated.
The report has market segmentation which include segments by type of segment & by End-User. The report includes Porter’s five force analysis, growth enablers, recent trends & developments, pain points & solutions. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview
According to Ken Research estimates, the US Medical Devices Market which grew at a robust CAGR from 2017-2022 & is forecasted to grow steadily from 2022-2027 driven by rising technological implementation, cosmetic procedure market impacting the trends & increasing chronic lifestyle diseases.
Key Trends by Market Segment
By Segment: In-Vitro diagnostics is expected to register a higher CAGR in the upcoming years owing to increasing uptake of real time diagnostic tests for precise diagnosis of chronic & infectious diseases such as diabetes & cancer.
By End-Users: The Hospitals & ASC held a dominating share in 2022 due to increasing number of multi-speciality hospitals.
Competitive Landscape:
The US Medical Device market is fragmented with players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. The major companies dominating the US Medical Device market for its products, services, and continuous product developments are the basis of flexibility and price, brand recognition, quality, and the overall variety of the product offering among others.
Future Outlook:
The USA Medical Device Market witnessed significant growth during the period 2017-2022, owing to increase in lifestyle diseases, technological implementation & increasing surgery procedures.
Growth rate of the market is going to increase over the period as market penetration rates increase.
Scope of the Report
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US Medical Device Market Segmentation |
|
|
By Type of Segment |
IVD Cardiovascular Device Orthopedic Devices Nephrology Diabetes care Wound care Diagnostic Imaging General Surgery Others |
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By Type of End use |
Hospitals ASC Clinics |
Products
Key Target Audience:
- Hospital
- ASC
- Clinics
- Government Agencies
- Distributors
Time Period Captured in the Report:
- Historical Period:2017- 2022
- Base Year: 2022
- Forecast Period: 2022-2027
Companies
Major Players Mentioned in the Report:
- Abbott
- Johnson & Johnson
- Beckton
- 3M Company
- General Electric
- Stryker
- Cardinal Health
Table of Contents
1. Executive Summary
2. Market Overview
2.1 Taxonomy of US Medical Devices Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for US Medical Devices Market
2.5 Growth Drivers of US Medical Devices Market
2.6 Issues and Challenges of US Medical Devices Market
2.7 Impact of COVID-19 on US Medical Devices Market
2.8 PESTLE/SWOT Analysis
3. US Medical Devices Market Size, 2017 – 2022
4. US Medical Devices Market Segmentation
4.1 By Type of Medical Devices, 2017 - 2022
4.2 By End-User, 2017 - 2022
4.3 By Regional Split (North /South/East/West), 2017 - 2022
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 Abbott
5.3.2 Johnson & Johnson
5.3.3 Beckton
5.3.4 3M Company
5.3.5 General Electric
5.3.6 Stryker
5.3.7 Cardinal Health
6. US Medical Devices Future Market Size, 2022 – 2027
7. US Medical Devices Future Market Segmentation
7.1 By Type of Medical Devices, 2022 - 2027
7.2 By End-User, 2022 - 2027
7.3 By Regional Split (North /South/East/West), 2022 - 2027
8. Analyst Recommendations
9. Research Methodology
10. Disclaimer
11. Contact Us
Research Methodology
Step: 1 Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step: 2 Market Building:
Collating statistics on used car and new car over the years, penetration of car finance and down payment ratio to compute overall credit disbursed for cars. We will also review central bank statistics to understand credit disbursed and outstanding amount which can ensure accuracy behind the datapoint shared.
Step: 3 Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step: 4 Research output:
Our team will approach multiple finance providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from car finance providers.
Frequently Asked Questions
01 How big is the US medical devices market?
In 2022, the US Medical Devices was valued at USD 178 billion.
02 What is the future of the US Medical Devices Market?
The future market size of the US Medical Devices is expected to reach USD 245 Bn in the forecasted period of 2023-2027 with a CAGR of 5.8 %.
03 Which are the top players in the US Medical Devices Market?
Abbott, Johnson & Johnson, Beckton, 3M Company, General Electric, Stryker, and Cardinal Health are major players active in the US Medical Devices Market.
04 How many medical device companies are there in the US?
In the US total of 6500 medical companies are operating in the medical devices market which are mostly small-sized and medium-sized.
Why Buy From Us?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
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