GITNUX MARKETDATA REPORT 2024

Global Medical Device Industry Statistics

The global medical device industry is projected to reach a market value of over $460 billion by 2026, driven by technological advancements and increasing healthcare expenditure worldwide.

Statistic 1

"The global hearing aids market size stood at $8.4 billion in 2020 and is likely to reach $13.38 billion by 2028."

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Statistic 2

"The digital health segment within the medical device industry is expected to reach $379 billion by 2024."

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Statistic 3

"The market is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028."

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Statistic 4

"The U.S. employs over 300,000 individuals in the medical device industry."

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Statistic 5

"The orthopedic device segment is predicted to reach $61.4 billion by 2025."

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Statistic 6

"Asia-Pacific is expected to be the fastest-growing region in the medical device market, with a projected CAGR of 7.1%."

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Statistic 7

"The ventilators market size was valued at $2.7 billion in 2020 and is expected to decrease as COVID-19 subsides."

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Statistic 8

"Medical devices constitute about 6.3% of the total healthcare expenditures globally."

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Statistic 9

"The home healthcare medical devices market is expected to reach $30.8 billion by 2028."

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Statistic 10

"The cardiovascular device market is forecasted to grow to $80.45 billion by 2026."

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Statistic 11

"The wearable medical device market is expected to reach $87.5 billion by 2027, growing at a CAGR of 27.9%."

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Statistic 12

"Europe is home to 27% of the world’s top 100 medical technology companies."

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Statistic 13

"Around 7,000 medical device companies operate in the United States alone."

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Statistic 14

"The in-vitro diagnostics market, a significant segment within medical devices, was valued at $87.93 billion in 2021."

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Statistic 15

"North America holds the largest market share, accounting for over 40% of the global revenue in 2020."

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Statistic 16

"The global medical device industry was valued at approximately $456 billion in 2020."

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Statistic 17

"The disposable medical devices market is anticipated to grow from $339.2 billion in 2021 to $555.1 billion in 2028."

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Statistic 18

"The diagnostic imaging market is expected to reach $45.3 billion by 2026."

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Statistic 19

"The medical device industry accounted for approximately $352 billion in exports in 2019."

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Statistic 20

"The global endoscopy devices market size was valued at $30.23 billion in 2020."

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