24/7 Customer Support

Medical Devices Market – Industry Dynamics, Market Size, and Opportunity Forecast To 2027

Global Medical Devices Market By Product (Diagnostic Devices, Consumables, Patient Aids, Others); By Application (Oncology, Cardiology, Orthopedics, Ophthalmic, Respiratory, Others); By End-Users (Hospitals & Surgical Centres, Clinics, Household, Others); By Region (North America, Europe, Asia Pacific, South America, Middle East and Africa)- Opportunity Analysis and Forecast To 2027

  • Published On: 13-Oct-2021  |   Format: pdfpowerpointexcel  |  Report ID: AA1021097
    Delivery: 2 to 4 Hours
Medical Devices Market

View Full Infographic


Report AttributeDetails
Market Size Value in 2021US$ 434.2 Bn
Expected Revenue in 2027US$ 625.3 Bn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2027
UnitValue (USD Bn)
Segments coveredBy Product, Application, End-User,  and Region
Key Companies3M Co., Abbott Laboratories, Allergan Inc., Baxter International Inc., Bayer, Becton Dickinson and Co., and other prominent players
Customization ScopeGet your customized report as per your preference. Ask for customization


The medical device industry is majorly dominated by small-scale companies and consist of very few big players. Although, industry is facing an increasing competition from unrelated industries with technological innovation that will outpace clinical innovation in the long-term. 

Global medical device market generated a revenue of US$ 434.2 Bn in 2021. 

The market is growing at a CAGR of 6.3% during the forecast period 2022-2027. 

North America is dominating the global medical device industry followed by Asia-Pacific. 

The report gives a comprehensive market analysis and forecast on the basis of various factors at different segment level. Some of the key segments are product, application, end user and region. These segments are further categorized into sub-segments to study the market extensively. 

The report includes detailed profiles of 31 companies, under various heads such as Business description, strategic outlook, product portfolio, financial details, recent developments, business segmentations and regional segmentations. 

Yes, the report offers a detailed study of COVID-19 impact on the industry that include analysis on different levels- Optimistic Outlook, Pessimistic Outlook, Astute Analysis and Pre-COVID Outlook. 

Yes, there is a dedicated chapter that explains about regulatory landscape of the industry. 

Medtronics, Johnson and Johnson, Abbott and GE Healthcare are the major shareholders in the global medical devices market and study shows that cumulative market share of the 15 major players is close to 45%, hence the market is fragmented in nature.

Threat of new entrants is moderate in the medical device market, due to high capital investment in terms of medical devices development cost, R&D setup cost, legal cost, marketing expense, distribution cost, and other cost. Medical device industry requires huge distribution networks and supply chain management to run the operations, thus new entrants in the market face tough competition from the existing competitors in the industry.