Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the medical device market is projected to reach an estimated $426.2 billion by 2025, at a CAGR of 3.6% from 2019 to 2025. Growth in this market is primarily driven by increasing healthcare expenditure, technological development, growing aging population, and chronic diseases.

Browse 80 figures / charts and 53 tables in this 177-page report to understand trends, opportunities and forecast in medical devices market by application (surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices), by function (diagnostic and monitoring, therapeutic, surgical and other devices), by end use (homecare medical device and hospital and ambulatory care medical device), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Cardiovascular device market is expected to remain the largest segment during the forecast period.”

Based on application, the medical device market is segmented into surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and other devices. Lucintel forecasts that the cardiovascular devices market is expected to remain the largest segment over the forecast period due to increasing geriatric population, inactive lifestyle, and poor eating habits.

“Within the medical device market, the surgical device segment is expected to remain the largest function”

Based on function, the surgical device segment is expected to witness the largest segment over the forecast period due to increasing number of surgical procedures, growing aging population, and increase in incidence of several chronic diseases.

“North America will dominate the medical device market in near future” 

North America is expected to be the largest region during the forecast period due to a large target patient pool coupled with a high adoption rates for advanced treatments in this region.  Asia Pacific is expected to witness the highest growth over the forecast period due to growing health awareness, increasing per capita income, and improving healthcare infrastructure.

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Major players of medical devices market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Medtronic, Johnson & Johnson, GE Healthcare, Siemens, and Cardinal Health and others are among the major medical devices providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/medical-device-market.aspx or helpdesk@lucintel.com