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Table of Contents
Executive Summary
Scope of Study
- Data Collection and Analysis
- Data Sources
- Data Triangulation
- Market Estimation
- Forecast
- Assumption and Limitations
- Data Summary Tables
1. Impact on Medical Facilities
2. Impact on Market Size
1. Scenario Comparative Analysis (Pre-COVID, During COVID, and Post COVID)
3. Future Outlook and Recommendations
1. Technology Landscape
1. Key Trends
1. Short Term Potential
2. Mid Term Potential
3. Long Term Potential
2. Supply Chain Analysis
3. Regulatory Framework
1. India
2. Indonesia
3. Thailand
4. Malaysia
5. Philippines
6. Singapore
7. Vietnam
8. Taiwan
9. South Africa
10. Saudi Arabia
11. U.A.E.
12. Brazil
4. Patent Analysis
1. Patent Filled, by Year
2. Patent Filled, by Country
5. Product Benchmarking Matrix
6. Ongoing Clinical Trials
1. Market Share Analysis
2. Key Strategies and Developments
1. Funding Activities
2. M&A Activities
3. Partnership, Alliances, and Business Expansion
4. Regulatory and Legal
5. New Offerings
3. Key Players Competitive Benchmarking
1. Assumption and Limitation
2. Key Findings and Opportunity Assessment
3. Market Dynamics
1. Impact Analysis
2. Market Growth Promoting Factors
3. Market Growth Restraining Factors
4. Market Growth Opportunities
1. Overview
2. India Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. India Endoscopes Market
1. By Value
2. By Volume
2. India Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. India CT/MRI Market
1. By Value
2. By Volume
4. India Artificial Lung Market
1. By Value
2. By Volume
5. India Ventricular Assist Device Market
1. By Value
2. By Volume
6. India Artificial Organ Equipment Market
1. By Value
2. By Volume
7. India Dialysis Equipment Market
1. By Value
2. By Volume
3. Indonesia Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Indonesia Endoscopes Market
1. By Value
2. By Volume
2. Indonesia Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Indonesia CT/MRI Market
1. By Value
2. By Volume
4. Indonesia Artificial Lung Market
1. By Value
2. By Volume
5. Indonesia Ventricular Assist Device Market
1. By Value
2. By Volume
6. Indonesia Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Indonesia Dialysis Equipment Market
1. By Value
2. By Volume
4. Thailand Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Thailand Endoscopes Market
1. By Value
2. By Volume
2. Thailand Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Thailand CT/MRI Market
1. By Value
2. By Volume
4. Thailand Artificial Lung Market
1. By Value
2. By Volume
5. Thailand Ventricular Assist Device Market
1. By Value
2. By Volume
6. Thailand Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Thailand Dialysis Equipment Market
1. By Value
2. By Volume
5. Malaysia Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Malaysia Endoscopes Market
1. By Value
2. By Volume
2. Malaysia Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Malaysia CT/MRI Market
1. By Value
2. By Volume
4. Malaysia Artificial Lung Market
1. By Value
2. By Volume
5. Malaysia Ventricular Assist Device Market
1. By Value
2. By Volume
6. Malaysia Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Malaysia Dialysis Equipment Market
1. By Value
2. By Volume
6. Philippines Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Philippines Endoscopes Market
1. By Value
2. By Volume
2. Philippines Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Philippines CT/MRI Market
1. By Value
2. By Volume
4. Philippines Artificial Lung Market
1. By Value
2. By Volume
5. Philippines Ventricular Assist Device Market
1. By Value
2. By Volume
6. Philippines Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Philippines Dialysis Equipment Market
1. By Value
2. By Volume
7. Singapore Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Singapore Endoscopes Market
1. By Value
2. By Volume
2. Singapore Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Singapore CT/MRI Market
1. By Value
2. By Volume
4. Singapore Artificial Lung Market
1. By Value
2. By Volume
5. Singapore Ventricular Assist Device Market
1. By Value
2. By Volume
6. Singapore Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Singapore Dialysis Equipment Market
1. By Value
2. By Volume
8. Vietnam Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Vietnam Endoscopes Market
1. By Value
2. By Volume
2. Vietnam Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Vietnam CT/MRI Market
1. By Value
2. By Volume
4. Vietnam Artificial Lung Market
1. By Value
2. By Volume
5. Vietnam Ventricular Assist Device Market
1. By Value
2. By Volume
6. Vietnam Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Vietnam Dialysis Equipment Market
1. By Value
2. By Volume
9. Taiwan Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Taiwan Endoscopes Market
1. By Value
2. By Volume
2. Taiwan Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Taiwan CT/MRI Market
1. By Value
2. By Volume
4. Taiwan Artificial Lung Market
1. By Value
2. By Volume
5. Taiwan Ventricular Assist Device Market
1. By Value
2. By Volume
6. Taiwan Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Taiwan Dialysis Equipment Market
1. By Value
2. By Volume
10. South Africa Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. South Africa Endoscopes Market
1. By Value
2. By Volume
2. South Africa Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. South Africa CT/MRI Market
1. By Value
2. By Volume
4. South Africa Artificial Lung Market
1. By Value
2. By Volume
5. South Africa Ventricular Assist Device Market
1. By Value
2. By Volume
6. South Africa Artificial Organ Equipment Market
1. By Value
2. By Volume
7. South Africa Dialysis Equipment Market
1. By Value
2. By Volume
11. Saudi Arabia Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Saudi Arabia Endoscopes Market
1. By Value
2. By Volume
2. Saudi Arabia Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Saudi Arabia CT/MRI Market
1. By Value
2. By Volume
4. Saudi Arabia Artificial Lung Market
1. By Value
2. By Volume
5. Saudi Arabia Ventricular Assist Device Market
1. By Value
2. By Volume
6. Saudi Arabia Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Saudi Arabia Dialysis Equipment Market
1. By Value
2. By Volume
12. U.A.E. Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. U.A.E. Endoscopes Market
1. By Value
2. By Volume
2. U.A.E. Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. U.A.E. CT/MRI Market
1. By Value
2. By Volume
4. U.A.E. Artificial Lung Market
1. By Value
2. By Volume
5. U.A.E. Ventricular Assist Device Market
1. By Value
2. By Volume
6. U.A.E. Artificial Organ Equipment Market
1. By Value
2. By Volume
7. U.A.E. Dialysis Equipment Market
1. By Value
2. By Volume
13 Brazil Medical Device Market
1. Key Findings and Opportunity Assessment
2. Market Dynamics: Impact Analysis
3. Market Size and Forecast
1. Brazil Endoscopes Market
1. By Value
2. By Volume
2. Brazil Ultrasound Diagnostic Imaging Equipment Market
1. By Value
2. By Volume
3. Brazil CT/MRI Market
1. By Value
2. By Volume
4. Brazil Artificial Lung Market
1. By Value
2. By Volume
5. Brazil Ventricular Assist Device Market
1. By Value
2. By Volume
6. Brazil Artificial Organ Equipment Market
1. By Value
2. By Volume
7. Brazil Dialysis Equipment Market
1. By Value
2. By Volume
1. Overview
2. Abbott Laboratories
1. Overview
2. Role of Abbott Laboratories in Medical Device Market
3. Financials
4. R&D Insights
5. Key Developments
6. SWOT Analysis
3. Baxter International Inc.
4. Becton, Dickinson and Company
5. Boston Scientific Corporation
6. B.Braun Melsungen AG
7. Fresenius Medical Care AG & Co. KGaA
8. FUJIFILM Holdings Corp
9. General Electric Company
10. KARL STORZ SE & Co.KG
11. LivaNova PLC
12. Medtronic PLC
13. Nipro Corporation
14. Olympus Corporation
15. Siemens Healthineers
Note: The list of companies is indicative in nature and is subject to change/modification based on research
Financial Information will be provided for public listed companies
Market Report Coverage
|
Medical Device Market |
|||
|
Base Year |
2020 |
Market Size in 2020 |
$XX Million |
|
Forecast Period |
2021-2030 |
Value Projection and Estimation by 2030 |
$XX Million |
|
CAGR During Forecast Period |
XX% |
Number of Tables |
XX |
|
Number of Pages |
XX |
Number of Figures |
|
|
Market Segmentation |
• Product: Endoscopes, Ultrasound Diagnostic Equipment, CT/MRI Devices, Artificial Lung, Ventricular Assist Device, Artificial Organ, Dialysis Equipment |
||
|
Country Segmentation |
• India |
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|
Market Growth Drivers |
• Improving Healthcare Infrastructure • Rising Prevalence of Chronic Diseases • Growing Geriatric Population • Presence of Key Medical Device Companies in the Emerging Economies • Favorable Regulatory Landscape |
||
|
Market Challenges |
• Lack of Public Reimbursement • High Upfront Cost of Advanced Devices and Treatments |
||
|
Market Opportunities |
• Entry of Regional Companies Offering Advanced Medical Devices • Partnerships Between Key Companies and Local Healthcare Facilities |
||
|
Key Companies Profiled |
Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, B.Braun Melsungen AG, Fresenius Medical Care AG & Co. KGaA, FUJIFILM Holdings Corp, General Electric Company, KARL STORZ SE & Co.KG, LivaNova PLC, Medtronic PLC, Nipro Corporation, Olympus Corporation, and Siemens Healthineers |
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How This Report Can Add Value
Who should buy this report?
• Non-healthcare companies planning to enter the medical device market through partnerships, acquisitions, or product launches
• Medical device manufacturers
• Regional companies planning to expand their footprint in different regional/countries market
Key Questions Answered in the Medical Device Market Report
• What has been the impact of COVID-19 on the medical device market?
• What are the key technological trends influencing the medical device market, and what is their potential in short-, mid-, and long-term duration?
• What are the key regulations for medical devices in different countries?
• Who are the key players in the medical device market, and what was their market share in 2020?
• Which key strategy was most extensively used in the medical device market in 2020?
• What are the key factors influencing the growth of the medical device market, and what are the major opportunity areas for the companies operating in the market?
• Which product sub-category is projected to witness accelerated growth in the medical device market during the forecast period 2021-2030?
• What are the major key findings for the medical device market across various regions?
Report Summary
Medical Device Market Overview
The scope of the medical device market involves various classes of medical devices that are used in the diagnosis and treatment of various diseases. The considered devices include endoscopes, ultrasound diagnostic equipment, computed tomography (CT) scanners, magnetic imaging resonance (MRI) scanners, artificial lung, ventricular assist devices, artificial organ equipment, and dialysis equipment.
The medical device market is dominated by various medical device manufacturers. These companies have extensive product portfolios and presence and hold a considerable share in as well as various regional medical devices markets. Some of the key medical device companies include Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, B.Braun Melsungen AG, Fresenius Medical Care AG & Co. KGaA, FUJIFILM Holdings Corp, General Electric Company, KARL STORZ SE & Co.KG, LivaNova PLC, Medtronic PLC, Nipro Corporation, Olympus Corporation, and Siemens Healthineers
The medical device market is influenced by various factors in emerging economies. The factors driving growth include improving healthcare infrastructure, rising prevalence of chronic diseases, growing geriatric population, presence of key medical device companies in the emerging economies, and favorable regulatory landscape. However, the market is limited by various factors such as lack of public reimbursement and high upfront cost of advanced devices and treatments.
Furthermore, there are various opportunities in the market that hold considerable growth potential. Entry of regional companies offering advanced medical devices and partnerships between key companies and local healthcare facilities are the key opportunity areas in the medical device market.
Additionally, the medical device market is influenced by various micro and macro trends. The improving income per capita, rising technology adoption in healthcare, growing vigilance for personal health, and the shift from service-based healthcare delivery to value-based healthcare delivery are the key trends that influence the market.
Furthermore, the intellectual property portfolios of the companies also play a critical part in the medical device market. The key players have a strong portfolio of patents, trademarks, and copyrights. The presence of a strong patent portfolio ensures the proprietary use of novel technologies in medical device development. Also, patent assists in the development of a strong foothold of companies till their expiry date. According to World Intellectual Property Organisation (WIPO), more than 50,000 patents medical devices patents have been filed in 2021, already further highlighting the importance of patents in the medical device market.
Medical device manufacturers employ either one or two of the most common business models for the sales of medical devices. The companies employ either business-to-customer (B2C) or business-to-business (B2B) models for selling medical devices. Often the manufacturers employ both the business models for improving their foothold in regional markets. Additionally, a new business model, Device-as-a-Service (DaaS), is also emerging in the market and is being employed by emerging medical device companies.
Medical Device Market Drivers
The factors driving market growth include improving healthcare infrastructure, rising prevalence of chronic diseases, growing geriatric population, presence of key medical device companies in the emerging economies, and favorable regulatory landscape. The rising prevalence of chronic diseases is one of the key drivers propelling the growth of the market. For instance, according to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally. In 2019, approximately 17.9 million or 31% of the global annual deaths were caused by cardiovascular diseases. Furthermore, according to a study conducted by National Center for Biotechnology Information (NCBI), titled “Heart Disease and Stroke Statistics—2017 Update,” in 2017, approximately 92.1 million adults in the U.S. would be suffering from a kind of CVD by 2030.
Additionally, peripheral artery disease (PAD) is a rising concern for the global healthcare system. For instance, according to a study conducted by NCBI, titled “Peripheral Arterial Disease in Women: An Overview of Risk Factor Profile, Clinical Features, and Outcomes,” in 2018, more than 200 million people were suffering from PAD globally. Thus, the rising prevalence of chronic diseases such as cardiovascular diseases (CVDs) has propelled the advancements in the healthcare system and has enabled the entry of medical device companies in emerging economies as well.
Medical Device Market Challenges
The medical device market is limited by various factors such as lack of public reimbursement and high upfront cost of advanced devices and treatments.
The high upfront cost of advanced medical devices is one of the key restraints to the growth of the market. For instance, in the case of cardiovascular disorders, angioplasty procedures cost higher than alternative medical treatments and coronary artery bypass grafting (CABG). According to a study conducted by the National Center for Biotechnology Information (NCBI), titled, “Comparative cost-effectiveness of surgery, angioplasty, or medical therapy in patients with multivessel coronary artery disease: MASS II trial,” in 2018, the medical treatment (MT) was preferred by the patients in comparison to angioplasty and CABG owing to the initial high cost of angioplasty and CABG. Furthermore, according to the study, the cost of the angioplasty was revised and increased 26 times in comparison to only 15 times for MT with no significant impact on the patient’s quality of life.
Thus, the high cost of advanced medical devices and treatments limits the options of patients to conventional treatments and further limits the growth of the medical device market.
Medical Device Market Opportunities
The medical device market holds various opportunities. The entry of regional companies offering advanced medical devices and partnerships between key companies and local healthcare facilities are the key opportunity areas in the medical device market.
The entry of regional companies in emerging economies is one of the key opportunity areas in the medical device market. For instance, Bonne Sante Meditech, an India-based start-up, has developed an advanced medical device for cancer treatment. The key feature of the device is that it is completely manufactured in India and is now in the initial stages of deployment in Maharashtra.
Similar companies can be established in various emerging economies such as the U.A.E., Brazil, South Africa, and other South-East Asian countries. The presence of companies in such countries is expected to accelerate the adoption of advanced devices and improve affordability. Furthermore, it will also improve technology integration in the medical device market.
Impact of COVID-19 on Medical Device Market
The COVID-19 pandemic had a mixed impact on the medical device market. While the demand for respiratory care devices skyrocketed, the medical devices used in regular treatment and diagnosis, such as endoscopes, reduced.
Also, the supply chains of the companies were impacted adversely. The limited availability of raw materials and delayed transportations due to lockdown and transportation restrictions impacted the inventory of the companies. Various medical device companies such as Abbott Laboratories and Medtronic plc witnessed a decline in medical device sales.
Market Segmentation
Medical Device Market (by Product)
The medical device market (by product) has been segmented into endoscopes ultrasound diagnostic equipment, CT/MRI devices, artificial lung, ventricular assist device, artificial organ, and dialysis equipment.
Medical Device Market (by Country)
The different countries covered in the medical device market include India, Indonesia, Thailand, Malaysia, the Philippines, Singapore, Vietnam, Taiwan, South Africa, Saudi Arabia, the U.A.E., and Brazil.
Key Market Players and Competition Synopsis
Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, B.Braun Melsungen AG, Fresenius Medical Care AG & Co. KGaA, FUJIFILM Holdings Corp, General Electric Company, KARL STORZ SE & Co.KG, LivaNova PLC, Medtronic PLC, Nipro Corporation, Olympus Corporation, and Siemens Healthineers.
The medical device market has witnessed several strategic and technological developments in the past few years undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are regulatory and legal activities, partnerships and alliances, new offerings, mergers and acquisitions, expansion activities, and funding activities.
Global Medical Device Market - Analysis and Forecast, 2021-2030
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