The
medical devices market is poised to grow by
USD 134.2 billion during 2020-2024, progressing at a CAGR of over 5% during the
forecast period.
The market is driven by the growing penetration of medical
devices in emerging countries. In addition, increasing initiatives by public
and private organizations are anticipated to boost the growth of the medical
devices market.
The medical devices market is witnessing growth in the emerging
economies to the extent that by 2022, more than 30% of the global healthcare
expenditure is expected to arise from these economies. Medical device companies
in emerging markets leverage low manufacturing and labor costs and generate
significant profit margins for investors. In addition, unlike developed
economies that are governed by strong government and payor actions in terms of
competitive pricing and regulation, emerging markets are benign for healthcare
companies. Furthermore, several emerging economies have an increasing geriatric
population and are struggling with an increase in the prevalence of chronic
diseases, which will lead to an increase in the demand for medical devices.
Thus, the growing penetration of medical devices in emerging countries is
expected to drive market growth during the forecast period.
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Major Five Medical Devices Market Companies:
Becton, Dickinson and Co.
Becton, Dickinson and Co. operates the business under various segments
such as BD Medical, BD Life Sciences, and BD Interventional. The company offers
medical devices for surgical, infusion, diabetes care, and interventional
procedures.
F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. offers products through the following business
units: Pharmaceuticals and Diagnostics. The company provides medical devices
for diabetes care and sample collection.
Fresenius SE & Co. KGaA
Fresenius SE & Co. KGaA operates under various business segments,
namely Fresenius Medical Care, Fresenius Kabi, Fresenius Helios, and Fresenius
Vamed. The company offers medical devices for dialysis, apheresis, transfusion
technology, and infusion therapy.
General Electric Co.
General Electric Co. offers products through the following business
segments: Aviation, Power, Oil and gas, Healthcare, Renewable energy,
Transportation, Lighting, and Capital. The company offers Accessories &
supplies, GE Health Cloud, Bone health and metabolic health, and other
solutions.
Johnson and Johnson Services Inc.
Johnson and Johnson Services Inc. offers products through the following
business segments: Pharmaceutical, Medical Devices, and Consumer. The company
offers medical devices for surgery, orthopedics, infection prevention, and
other procedures.
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