Global Medical Devices Market

Global Medical Devices Market Insights
The Global Medical Devices Market was valued at USD 446.05 Billion in 2021, and it is expected to reach a value of USD 653.18 Billion by 2028, at a CAGR of 5.60 % over the forecast period (2022-2028).
Medical devices powered by AI will continue to increase as AI concepts are integrated into medical device software for the purposes of acquiring and interpreting data from wearables, the Internet of Things (IoT), and point-of-care devices. With the advent of telemedicine and the ongoing risk of human-to-human virus transmission, more patients and providers seek healthcare with as little human interaction as possible. As the insights become more engaged in future decision-making throughout the healthcare spectrum, AI and machine learning are now likely to be included in the bulk of new MedTech solutions.

Global Medical Devices Market Segmental Analysis
The Global Medical Devices Market is segmented based on type of device and end-use. Based on type the market is segmented into into Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic, Dental, Nephrology, General Surgery, Other. Based on End-use the market is segmented hospitals, clinics and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Top Players Company Profiles
• Medtronic (Ireland)
• Stryker (US)
• Fresenius SE & Co. KGaA (Germany)
• Koninklijke Philips N.V. (Netherlands)
• F. Hoffmann-La Roche Ltd (Switzerland)
• General Electric Company (US)
• Siemens Healthineers AG (Germany)
• BD (US)
• Boston Scientific Corporation (US)
• Johnson & Johnson Services, Inc. (US)

Recent Developments
• In May 2022, Abbott’s imaging catheter recall recieved Class I label from FDA over vascular injury risks.
• In May 2022, Verily take forward smartwatch toward Parkinson’s clinical trial use after validating technology.
• In August 2021, VELYS Digital Surgery was introduced by Johnson & Johnson. In the United States, the robotic-assisted solution for total knee arthroplasty is commercially accessible.
• In January 2021, Smith & Nephew collaborated with Movemedical, a firm located in the United States, to extend its inventory automation solutions and improve customer experience.

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Global Medical Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Medical device companies are focusing on developing disposable medical products, contactless medical devices, wearable medical devices, and portable medical devices, as well as making the devices secure, reliable, and robust, expanding product portfolios through collaborations, focusing on self-diagnosis products, virtual reality-based medical devices, blockchain for medical devices, expanding into emerging markets, and leveraging e-commerce to maximize profits.