Medical Devices Market by Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, In-vitro Diagnostics, Minimally Invasive Surgery, Wound Management, Diabetes Care, Ophthalmic Devices, Dental Devices, Nephrology, General Surgery, Others), by End-User (Hospitals & ASCs, Clinics, Others), by North America (U.S., Canada) Forecast 2024-2032
The Medical Devices Marketsize was valued at USD 518.46 USD Billion in 2023 and is projected to reach USD 795.15 USD Billion by 2032, exhibiting a CAGR of 6.3 % during the forecast period. Medical devices are any instrument, apparatus, appliance, implement, or material, other than drugs or serialized products, intended to be used in the diagnosis, cure, prevention, treatment, mitigation, alleviation, or relief of disease in human beings. This includes basic items like thermometers and bandages, as well as machines and instruments, for instance, MRI scanners and pacemakers. Other aspects of medical devices include their effectiveness in coming up with accurate diagnostic information, factors contributing to quality of life, and better treatments through enhanced precision. They regularly engage in employing modern technologies in the form of sensors, software, and artificial intelligence to provide unique solutions in the field of medicine. On the same note, it is crucial to consider the following benefits of medical devices: They are valuable in helping diagnose illnesses at an early stage before they progress, hence improving the patient’s prognosis. In addition, using medical devices, improved techniques and approaches can help decrease the invasiveness of surgeries, which may shorten recovery time and lead to lower healthcare expenses.
Type:
End-User:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.3% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.3% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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