Medical Device Technologies Market: By devices (Neurostimulators, Insulin pumps, Passive implants, Orthopaedic implants, Cochlear implants, Pacemakers, Cardiac devices, Kidney device, Endoscopy devices, Diagnostic and imaging devices, Others), By application (Disease diagnosis, Identification, Prevention, Imaging), end user (Diagnostic centres, Multi-speciality hospitals, Ambulatory surgical centre, Research centres) and Geography  


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Medical Device Technologies Market size was valued USD 558.4 million 2021 and expected to reach USD 757.4 million by 2028, at a CAGR of 5.4% during the forecast period 2022-2028. An article, instrument, apparatus or machine that is used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for some health purpose is known as a medical device. Typically, the purpose of a medical device is not achieved by pharmacological, immunological or metabolic means. Medical devices require maintenance, calibration, user training, decommissioning and repair which are predominantly handled by the clinical engineers. Medical devices are used for certain purposes of treatment, rehabilitation and diagnosis of diseases or injuries may be used alone or in association with any other accessories, consumables or other medical equipment. The medical device technologies market is expected to show significant growth during the foreseen period due to huge unmet needs in the healthcare sector. Currently, many clinics and hospitals are positioning automatic processes to diminish errors and also to achieve fast and accurate data analysis. Medical device companies are spending huge amounts of investments for quality product development and to enhance product portfolio by developing respiratory products, medical imaging devices, orthopaedic implants, vascular drug-eluting stents microelectronics, bio-materials etc.

Global Medical Device Technologies Market Summary

Study Period


Base Year




Largest Market

North America

Fastest Growing Market

Medical Device Technologies Market Dynamics

Increase in advanced technologies, rise and prevalence of chronic diseases such as cardiovascular diseases, cancer, and COPD are expected to create demand for medical device technologies market. Rise in an ageing population, a high need of preventive health care, a rise in awareness about health concerns and changes in lifestyles of people are few factors which are expected to propel the growth of global medical devices technologies market. However, stringent government regulations, increased taxes on the products, increase in technology piracy incidence rate, a rise in the cost of devices and services are restraints of the market.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Medical Device Technologies Market Segmentation

By Device
  • Neurostimulators
  • Insulin pumps
  • Passive implants
  • Orthopaedic implants
  • Cochlear implants
  • Pacemakers
  • Cardiac devices
  • Kidney devices
  • Endoscopy devices
  • Diagnostic and imaging devices
  • Others
By Application
  • Disease diagnosis
  • Identification
  • Prevention
  • Imaging
By End User
  • Diagnostic centres
  • Multi-speciality hospitals
  • Ambulatory surgical centres
  • Research centres

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

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  • Becton, Dickinson and Company (U.S)
  • Abbott Laboratories, Inc. (U.S)
  • bioMerieux, Inc. (France)
  • Biomerica, Inc.(USA)
  • Novartis AG(Switzerland)
  • Olympus Corporation (Japan)
  • Johnson & Johnson Diagnostics, Inc. (USA)
  • Qiagen N.V. (Geramany)
  • Siemens AG (Germany)
  • Thermo Fischer Scientific, Inc. (U.S.)