GITNUXREPORT 2026

Medical Technology Industry Statistics

The global medical technology market is growing strongly and will reach nearly $900 billion by 2030.

Gitnux Team

Expert team of market researchers and data analysts.

First published: Feb 13, 2026

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Key Statistics

Statistic 1

Medtech industry employs 2.2 million people in Europe.

Statistic 2

U.S. medtech direct employment at 570,000 in 2022.

Statistic 3

Global medtech workforce over 15 million including supply chain.

Statistic 4

Medtronic employs 95,000 people worldwide.

Statistic 5

Johnson & Johnson MedTech 80,000 employees.

Statistic 6

Abbott 114,000 employees total, significant in medtech.

Statistic 7

Stryker 51,000 employees.

Statistic 8

Boston Scientific 50,000 employees.

Statistic 9

Intuitive Surgical 12,022 employees in 2022.

Statistic 10

Zimmer Biomet 18,500 employees.

Statistic 11

Becton Dickinson 70,000 employees.

Statistic 12

Edwards Lifesciences 20,000+ employees.

Statistic 13

Siemens Healthineers 71,000 employees.

Statistic 14

GE Healthcare 51,000 employees.

Statistic 15

Philips Healthcare 69,000 employees.

Statistic 16

Hologic 6,900 employees.

Statistic 17

Medtech jobs grew 3% annually in U.S. last decade.

Statistic 18

U.S. medtech manufacturing output $50 billion in 2022.

Statistic 19

The global medical technology market size was valued at USD 548.52 billion in 2023.

Statistic 20

The medical technology market is projected to grow at a CAGR of 5.4% from 2024 to 2030.

Statistic 21

North America held over 40% share of the global medtech market in 2023.

Statistic 22

The U.S. medtech market was valued at USD 208 billion in 2022.

Statistic 23

Asia-Pacific medtech market expected to grow at 6.8% CAGR through 2028.

Statistic 24

Global medtech market projected to reach USD 886 billion by 2030.

Statistic 25

Diagnostic imaging segment dominated with 28% market share in 2023.

Statistic 26

Wearable medical devices market to grow at 25.53% CAGR from 2023-2030.

Statistic 27

IVD market size was USD 85.67 billion in 2022.

Statistic 28

Orthopedic devices market valued at USD 53.4 billion in 2023.

Statistic 29

Cardiac management devices market to reach USD 22.8 billion by 2028.

Statistic 30

Robotics surgery market expected to hit USD 20.88 billion by 2030.

Statistic 31

U.S. medtech market growth rate of 4.5% annually through 2027.

Statistic 32

Europe medtech market at EUR 140 billion in 2022.

Statistic 33

Digital health market within medtech to grow 22% CAGR to 2025.

Statistic 34

The global medical technology market size was valued at USD 548.52 billion in 2023.

Statistic 35

The medical technology market is projected to grow at a CAGR of 5.4% from 2024 to 2030.

Statistic 36

North America held over 40% share of the global medtech market in 2023.

Statistic 37

The U.S. medtech market was valued at USD 208 billion in 2022.

Statistic 38

Asia-Pacific medtech market expected to grow at 6.8% CAGR through 2028.

Statistic 39

Global medtech market projected to reach USD 886 billion by 2030.

Statistic 40

Diagnostic imaging segment dominated with 28% market share in 2023.

Statistic 41

Wearable medical devices market to grow at 25.53% CAGR from 2023-2030.

Statistic 42

IVD market size was USD 85.67 billion in 2022.

Statistic 43

Global medtech R&D spending reached $45 billion in 2022.

Statistic 44

Medtronic R&D expenditure $2.7 billion in FY2023.

Statistic 45

Johnson & Johnson R&D for medtech $3.5 billion in 2022.

Statistic 46

Abbott R&D spend $1.98 billion in 2023.

Statistic 47

Stryker R&D investment $704 million in 2022.

Statistic 48

Boston Scientific R&D $1.5 billion in 2022.

Statistic 49

Intuitive Surgical R&D $841 million in 2022.

Statistic 50

Zimmer Biomet R&D $412 million in 2022.

Statistic 51

Becton Dickinson R&D $1.3 billion in FY2023.

Statistic 52

Edwards Lifesciences R&D $1 billion in 2023.

Statistic 53

Siemens Healthineers R&D EUR 1.9 billion in FY2023.

Statistic 54

GE Healthcare R&D $1.3 billion in 2023.

Statistic 55

Philips R&D EUR 1.7 billion in 2023.

Statistic 56

Hologic R&D $240 million in FY2023.

Statistic 57

Global medtech patents filed exceeded 100,000 in 2022.

Statistic 58

FDA cleared 9,832 medical devices in 2022.

Statistic 59

North America accounts for 45% of global medtech market.

Statistic 60

Asia-Pacific fastest growing region at 7.2% CAGR.

Statistic 61

China medtech market $70 billion in 2022.

Statistic 62

EU medtech exports $120 billion annually.

Statistic 63

India medtech market to reach $50 billion by 2025.

Statistic 64

Latin America medtech market growth 5.5% CAGR.

Statistic 65

Middle East & Africa medtech at $20 billion in 2023.

Statistic 66

Japan medtech market $42 billion in 2022.

Statistic 67

Australia medtech sector AUD 10 billion.

Statistic 68

Brazil largest medtech market in LatAm at $8 billion.

Statistic 69

Germany leads EU medtech with 20% share.

Statistic 70

South Korea medtech exports $10 billion in 2022.

Statistic 71

Emerging markets to drive 60% of growth by 2030.

Statistic 72

U.S. imports 40% of medtech devices.

Statistic 73

Supply chain disruptions impacted 70% of medtech firms in 2022.

Statistic 74

60% of medtech revenue from top 10 companies.

Statistic 75

Medtronic reported FY2023 revenue of $31.22 billion.

Statistic 76

Johnson & Johnson MedTech revenue $27.1 billion in 2022.

Statistic 77

Abbott Laboratories diagnostics revenue $10.4 billion in 2023.

Statistic 78

Stryker Corporation revenue $18.4 billion for 2022.

Statistic 79

Boston Scientific revenue $12.68 billion in 2022.

Statistic 80

Intuitive Surgical revenue $6.22 billion in 2022.

Statistic 81

Zimmer Biomet revenue $7.4 billion in 2022.

Statistic 82

Becton Dickinson revenue $19.37 billion in FY2023.

Statistic 83

Edwards Lifesciences revenue $6 billion in 2023.

Statistic 84

Siemens Healthineers revenue EUR 22.4 billion in FY2023.

Statistic 85

GE Healthcare revenue $18.3 billion in 2023.

Statistic 86

Philips Healthcare revenue EUR 18.2 billion in 2023.

Statistic 87

Hologic revenue $4 billion in FY2023.

Statistic 88

Terumo Corporation revenue JPY 843.1 billion in FY2023.

Statistic 89

Globus Medical revenue $1.15 billion in 2022.

Sources
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Imagine a sector so dynamic that it's on track to become an $886 billion global force, reshaping healthcare from diagnostics to surgery one innovation at a time.

Key Takeaways

  • The global medical technology market size was valued at USD 548.52 billion in 2023.
  • The medical technology market is projected to grow at a CAGR of 5.4% from 2024 to 2030.
  • North America held over 40% share of the global medtech market in 2023.
  • Medtronic reported FY2023 revenue of $31.22 billion.
  • Johnson & Johnson MedTech revenue $27.1 billion in 2022.
  • Abbott Laboratories diagnostics revenue $10.4 billion in 2023.
  • Global medtech R&D spending reached $45 billion in 2022.
  • Medtronic R&D expenditure $2.7 billion in FY2023.
  • Johnson & Johnson R&D for medtech $3.5 billion in 2022.
  • Medtech industry employs 2.2 million people in Europe.
  • U.S. medtech direct employment at 570,000 in 2022.
  • Global medtech workforce over 15 million including supply chain.
  • North America accounts for 45% of global medtech market.
  • Asia-Pacific fastest growing region at 7.2% CAGR.
  • China medtech market $70 billion in 2022.

The global medical technology market is growing strongly and will reach nearly $900 billion by 2030.

Employment and Workforce

  • Medtech industry employs 2.2 million people in Europe.
  • U.S. medtech direct employment at 570,000 in 2022.
  • Global medtech workforce over 15 million including supply chain.
  • Medtronic employs 95,000 people worldwide.
  • Johnson & Johnson MedTech 80,000 employees.
  • Abbott 114,000 employees total, significant in medtech.
  • Stryker 51,000 employees.
  • Boston Scientific 50,000 employees.
  • Intuitive Surgical 12,022 employees in 2022.
  • Zimmer Biomet 18,500 employees.
  • Becton Dickinson 70,000 employees.
  • Edwards Lifesciences 20,000+ employees.
  • Siemens Healthineers 71,000 employees.
  • GE Healthcare 51,000 employees.
  • Philips Healthcare 69,000 employees.
  • Hologic 6,900 employees.
  • Medtech jobs grew 3% annually in U.S. last decade.
  • U.S. medtech manufacturing output $50 billion in 2022.

Employment and Workforce Interpretation

While the devices are complex, the medtech industry's impact is profoundly simple: it's a global network of over 15 million human hands that directly employs the entire population of a small nation just in Europe, quietly building the innovations that keep the rest of us alive.

Market Size and Growth

  • The global medical technology market size was valued at USD 548.52 billion in 2023.
  • The medical technology market is projected to grow at a CAGR of 5.4% from 2024 to 2030.
  • North America held over 40% share of the global medtech market in 2023.
  • The U.S. medtech market was valued at USD 208 billion in 2022.
  • Asia-Pacific medtech market expected to grow at 6.8% CAGR through 2028.
  • Global medtech market projected to reach USD 886 billion by 2030.
  • Diagnostic imaging segment dominated with 28% market share in 2023.
  • Wearable medical devices market to grow at 25.53% CAGR from 2023-2030.
  • IVD market size was USD 85.67 billion in 2022.
  • Orthopedic devices market valued at USD 53.4 billion in 2023.
  • Cardiac management devices market to reach USD 22.8 billion by 2028.
  • Robotics surgery market expected to hit USD 20.88 billion by 2030.
  • U.S. medtech market growth rate of 4.5% annually through 2027.
  • Europe medtech market at EUR 140 billion in 2022.
  • Digital health market within medtech to grow 22% CAGR to 2025.
  • The global medical technology market size was valued at USD 548.52 billion in 2023.
  • The medical technology market is projected to grow at a CAGR of 5.4% from 2024 to 2030.
  • North America held over 40% share of the global medtech market in 2023.
  • The U.S. medtech market was valued at USD 208 billion in 2022.
  • Asia-Pacific medtech market expected to grow at 6.8% CAGR through 2028.
  • Global medtech market projected to reach USD 886 billion by 2030.
  • Diagnostic imaging segment dominated with 28% market share in 2023.
  • Wearable medical devices market to grow at 25.53% CAGR from 2023-2030.
  • IVD market size was USD 85.67 billion in 2022.

Market Size and Growth Interpretation

While North America clings to its medtech crown, the explosive growth of wearables and Asia-Pacific's ascent prove that the future of healthcare is strapping on a watch and heading east.

R&D Investment

  • Global medtech R&D spending reached $45 billion in 2022.
  • Medtronic R&D expenditure $2.7 billion in FY2023.
  • Johnson & Johnson R&D for medtech $3.5 billion in 2022.
  • Abbott R&D spend $1.98 billion in 2023.
  • Stryker R&D investment $704 million in 2022.
  • Boston Scientific R&D $1.5 billion in 2022.
  • Intuitive Surgical R&D $841 million in 2022.
  • Zimmer Biomet R&D $412 million in 2022.
  • Becton Dickinson R&D $1.3 billion in FY2023.
  • Edwards Lifesciences R&D $1 billion in 2023.
  • Siemens Healthineers R&D EUR 1.9 billion in FY2023.
  • GE Healthcare R&D $1.3 billion in 2023.
  • Philips R&D EUR 1.7 billion in 2023.
  • Hologic R&D $240 million in FY2023.
  • Global medtech patents filed exceeded 100,000 in 2022.
  • FDA cleared 9,832 medical devices in 2022.

R&D Investment Interpretation

While Medtronic and Johnson & Johnson are the industry's high-rolling spenders, the collective $45 billion R&D gamble proves the entire medtech sector is placing a very expensive bet that innovation is still the best medicine.

Regional and Global Trends

  • North America accounts for 45% of global medtech market.
  • Asia-Pacific fastest growing region at 7.2% CAGR.
  • China medtech market $70 billion in 2022.
  • EU medtech exports $120 billion annually.
  • India medtech market to reach $50 billion by 2025.
  • Latin America medtech market growth 5.5% CAGR.
  • Middle East & Africa medtech at $20 billion in 2023.
  • Japan medtech market $42 billion in 2022.
  • Australia medtech sector AUD 10 billion.
  • Brazil largest medtech market in LatAm at $8 billion.
  • Germany leads EU medtech with 20% share.
  • South Korea medtech exports $10 billion in 2022.
  • Emerging markets to drive 60% of growth by 2030.
  • U.S. imports 40% of medtech devices.
  • Supply chain disruptions impacted 70% of medtech firms in 2022.
  • 60% of medtech revenue from top 10 companies.

Regional and Global Trends Interpretation

North America still wears the medtech crown, but the future is rapidly being assembled in the bustling factories and clinics of the emerging world, with growth surging from Asia to Latin America as they chase—and perhaps one day catch—the established giants.

Revenue and Financials

  • Medtronic reported FY2023 revenue of $31.22 billion.
  • Johnson & Johnson MedTech revenue $27.1 billion in 2022.
  • Abbott Laboratories diagnostics revenue $10.4 billion in 2023.
  • Stryker Corporation revenue $18.4 billion for 2022.
  • Boston Scientific revenue $12.68 billion in 2022.
  • Intuitive Surgical revenue $6.22 billion in 2022.
  • Zimmer Biomet revenue $7.4 billion in 2022.
  • Becton Dickinson revenue $19.37 billion in FY2023.
  • Edwards Lifesciences revenue $6 billion in 2023.
  • Siemens Healthineers revenue EUR 22.4 billion in FY2023.
  • GE Healthcare revenue $18.3 billion in 2023.
  • Philips Healthcare revenue EUR 18.2 billion in 2023.
  • Hologic revenue $4 billion in FY2023.
  • Terumo Corporation revenue JPY 843.1 billion in FY2023.
  • Globus Medical revenue $1.15 billion in 2022.

Revenue and Financials Interpretation

The colossal revenue figures streaming from the medical technology industry reveal a world that is deeply reliant on continuous innovation to mend its broken parts and extend its fragile life, turning both chronic ailments and sudden traumas into a multi-hundred-billion dollar enterprise.

Sources & References

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