HEALTHCARE
Global Medical Equipment Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Medical Equipment Market, By Equipment (Imaging Equipment, Electromedical Equipment, Orthopaedic Devices, Cardiovascular Devices, IVD, MIS, Wound Management, Endoscopic Devices, Surgical Instruments, and Other Medical Equipment), Durable Medical Equipment (Personal Mobility Devices, Bathroom Safety Devices and Medical Furniture, and Monitoring and Therapeutic Devices), Maintenance Service (Preventive Maintenance, Corrective Maintenance, and Operational Maintenance), Maintenance Service Providers (In-House Service Providers and External Service Providers), Level of Maintenance (Level 3: Specialized, Level 2: Technician, and Level 1: User (or First-line)), Maintenance Contract Type (Basic Contract, Premium Contract, Customized Contract, and Add-On Contract), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global medical equipment market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Medical devices encompasses a wide range of products used for medical diagnosis, treatment, monitoring, or prevention of diseases and conditions. These devices can vary from simple tools like tongue depressors and bandages to complex machinery such as MRI machines and pacemakers. In general, medical devices are intended for use in healthcare settings by healthcare professionals or patients themselves.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Remote patient monitoring
- Aging population and chronic diseases
RESTRAINTS
- Healthcare cost pressures
- Reimbursement uncertainty
OPPORTUNITIES
- Point-of-Care Testing (POCT)
- Minimally invasive and robotic surgery
CHALLENGES
- Supply chain disruptions
- Market saturation
SEGMENTATION
- Equipment
- Imaging Equipment
- CT
- MRI
- Digital X-Ray
- Ultrasound
- Others
- Life Support Devices
- Dental Equipment
- Electromedical Equipment
- Orthopaedic Devices
- Cardiovascular Devices
- IVD
- MIS
- Wound Management
- Endoscopic Devices
- Surgical Instruments
- Other Medical Equipment
- Durable Medical Equipment
- Personal Mobility Devices
- Wheelchairs
- Scooters
- Walker and Rollators
- Canes and Crutches
- Door Openers
- Other Devices
- Bathroom Safety Devices and Medical Furniture
- Commodes and Toilets
- Mattress & Bedding Devices
- Monitoring and Therapeutic Devices
- Blood Sugar Monitors
- Continuous Passive Motion (CPM)
- Infusion Pumps Market
- Nebulizers
- Oxygen Equipment
- Continuous Positive Airway Pressure (CPAP)
- Suction Pumps
- Traction Equipment
- Others Equipment's
- Maintenance Service
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
- Maintenance Service Providers
- In-House Service Providers
- External Service Providers
- Level of Maintenance
- Level 3: Specialized
- Level 2: Technician
- Level 1: User (or First-line)
- Maintenance Contract Type
- Basic Contract
- Premium Contract
- Customized Contract
- Add-On Contract
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Abbott Laboratories Inc.
- Boston Scientific Corporation
- F. Hoffmann-La Roche Ltd
- GE Healthcare (General Electric Company)
- Johnson & Johnson
- Medtronic PLC
- Koninklinje Philips NV
- Siemens Healthineers (Siemens AG)
- Smith & Nephew PLC
- Stryker Corporation
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Medical Equipment Market, by Equipment
- 3.2 Global Medical Equipment Market, by Durable Medical Equipment
- 3.3 Global Medical Equipment Market, by Maintenance Service
- 3.4 Global Medical Equipment Market, by Maintenance Service Providers
- 3.5 Global Medical Equipment Market, by Level of Maintenance
- 3.6 Global Medical Equipment Market, by Maintenance Contract Type
- 3.7 Global Medical Equipment Market, by Geography
- 3.8 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Wearable medical devices
- 5.1.2 Value-based care solutions
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Remote patient monitoring
- 5.2.2 Aging population and chronic diseases
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Healthcare cost pressures
- 5.3.2 Reimbursement uncertainty
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Point-of-Care Testing (POCT)
- 5.4.2 Minimally invasive and robotic surgery
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Supply chain disruptions
- 5.5.2 Market saturation
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL MEDICAL EQUIPMENT MARKET, BY EQUIPMENT
- 6.1 Equipment Summary
- 6.2 Market Attractive Index
- 6.3 Global Medical Equipment Market, by Equipment (2019-2032)
- SECTION 7 - GLOBAL MEDICAL EQUIPMENT MARKET, BY DURABLE MEDICAL EQUIPMENT
- 7.1 By Durable Medical Equipment Summary
- 7.2 Market Attractive Index
- 7.3 Global Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- SECTION 8 - GLOBAL MEDICAL EQUIPMENT MARKET, BY MAINTENANCE SERVICE
- 8.1 Maintenance Service Summary
- 8.2 Market Attractive Index
- 8.3 Global Medical Equipment Market, by Maintenance Service (2019-2032)
- SECTION 9 - GLOBAL MEDICAL EQUIPMENT MARKET, BY MAINTENANCE SERVICE PROVIDERS
- 9.1 Maintenance Service Providers Summary
- 9.2 Market Attractive Index
- 9.3 Global Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- SECTION 10 - GLOBAL MEDICAL EQUIPMENT MARKET, BY LEVEL OF MAINTENANCE
- 10.1 Level of Maintenance Summary
- 10.2 Market Attractive Index
- 10.3 Global Medical Equipment Market, by Level of Maintenance (2019-2032)
- SECTION 11 - GLOBAL MEDICAL EQUIPMENT MARKET, BY MAINTANENCE CONTRACT TYPE
- 11.1 Maintenance Contract Type Summary
- 11.2 Market Attractive Index
- 11.3 Global Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- SECTION 12 - GLOBAL MEDICAL EQUIPMENT MARKET, BY GEOGRAPHY
- 12.1 Regional Summary
- 12.2 Market Attractive Index
- 12.3 Global Medical Equipment Market, by Geography (2019-2032)
- SECTION 13 - NORTH AMERICA MEDICAL EQUIPMENT MARKET
- 13.1 North America Summary
- 13.2 Market Attractive Index
- 13.3 North America Medical Equipment Market, by Equipment (2019-2032)
- 13.4 North America Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- 13.5 North America Medical Equipment Market, by Maintenance Service (2019-2032)
- 13.6 North America Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- 13.7 North America Medical Equipment Market, by Level of Maintenance (2019-2032)
- 13.8 North America Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- 13.9 North America Medical Equipment Market, by Country (2019-2032)
- 13.9.1 U.S.
- 13.9.2 Canada
- 13.9.3 Mexico
- 13.9.4 Rest of North America
- SECTION 14 - EUROPE MEDICAL EQUIPMENT MARKET
- 14.1 Europe Summary
- 14.2 Market Attractive Index
- 14.3 Europe Medical Equipment Market, by Equipment (2019-2032)
- 14.4 Europe Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- 14.5 Europe Medical Equipment Market, by Maintenance Service (2019-2032)
- 14.6 Europe Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- 14.7 Europe Medical Equipment Market, by Level of Maintenance (2019-2032)
- 14.8 Europe Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- 14.9 Europe Medical Equipment Market, by Country (2019-2032)
- 14.9.1 Germany
- 14.9.2 U.K.
- 14.9.3 France
- 14.9.4 Italy
- 14.9.5 Spain
- 14.9.6 Russia
- 14.9.7 The Netherlands
- 14.9.8 Belgium
- 14.9.9 Turkey
- 14.9.10 Rest of Europe
- SECTION 15 - ASIA-PACIFIC MEDICAL EQUIPMENT MARKET
- 15.1 Asia-Pacific Summary
- 15.2 Market Attractive Index
- 15.3 Asia-Pacific Medical Equipment Market, by Equipment (2019-2032)
- 15.4 Asia-Pacific Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- 15.5 Asia-Pacific Medical Equipment Market, by Maintenance Service (2019-2032)
- 15.6 Asia-Pacific Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- 15.7 Asia-Pacific Medical Equipment Market, by Level of Maintenance (2019-2032)
- 15.8 Asia-Pacific Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- 15.9 Asia-Pacific Medical Equipment Market, by Country (2019-2032)
- 15.9.1 China
- 15.9.2 India
- 15.9.3 Japan
- 15.9.4 South Korea
- 15.9.5 Singapore
- 15.9.6 Malaysia
- 15.9.7 Australia
- 15.9.8 Thailand
- 15.9.9 Philippines
- 15.9.10 Rest of Asia-Pacific
- SECTION 16 - SOUTH AMERICA MEDICAL EQUIPMENT MARKET
- 16.1 South America Summary
- 16.2 Market Attractive Index
- 16.3 South America Medical Equipment Market, by Equipment (2019-2032)
- 16.4 South America Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- 16.5 South America Medical Equipment Market, by Maintenance Service (2019-2032)
- 16.6 South America Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- 16.7 South America Medical Equipment Market, by Level of Maintenance (2019-2032)
- 16.8 South America Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- 16.9 South America Medical Equipment Market, by Country (2019-2032)
- 16.9.1 Brazil
- 16.9.2 Argentina
- 16.9.3 Chile
- 16.9.4 Colombia
- 16.9.5 Rest of South America
- SECTION 17 - MIDDLE EAST AND AFRICA MEDICAL EQUIPMENT MARKET
- 17.1 Middle East and Africa Summary
- 17.2 Market Attractive Index
- 17.3 Middle East and Africa Medical Equipment Market, by Equipment (2019-2032)
- 17.4 Middle East and Africa Medical Equipment Market, by Durable Medical Equipment (2019-2032)
- 17.5 Middle East and Africa Medical Equipment Market, by Maintenance Service (2019-2032)
- 17.6 Middle East and Africa Medical Equipment Market, by Maintenance Service Providers (2019-2032)
- 17.7 Middle East and Africa Medical Equipment Market, by Level of Maintenance (2019-2032)
- 17.8 Middle East and Africa Medical Equipment Market, by Maintenance Contract Type (2019-2032)
- 17.9 Middle East and Africa Medical Equipment Market, by Country (2019-2032)
- 17.9.1 Kingdom of Saudi Arabia
- 17.9.2 South Africa
- 17.9.3 U.A.E.
- 17.9.4 Egypt
- 17.9.5 Rest of Middle East and Africa
- SECTION 18 - COMPANY SHARE ANALYSIS
- 18.1 Global Medical Equipment Market, Company Share Analysis
- 18.2 North America Medical Equipment Market, Company Share Analysis
- 18.3 Europe Medical Equipment Market, Company Share Analysis
- 18.4 Asia-Pacific Medical Equipment Market, Company Share Analysis
- SECTION 19 - COMPANY PROFILES
- 19.1 Abbott Laboratories Inc.
- 19.1.1 Company Snapshot
- 19.1.2 Financial Overview
- 19.1.3 Product Portfolio
- 19.1.4 Recent Developments
- 19.2 Boston Scientific Corporation
- 19.2.1 Company Snapshot
- 19.2.2 Financial Overview
- 19.2.3 Product Portfolio
- 19.2.4 Recent Developments
- 19.3 F. Hoffmann-La Roche Ltd
- 19.3.1 Company Snapshot
- 19.3.2 Financial Overview
- 19.3.3 Product Portfolio
- 19.3.4 Recent Developments
- 19.4 GE Healthcare (General Electric Company)
- 19.4.1 Company Snapshot
- 19.4.2 Financial Overview
- 19.4.3 Product Portfolio
- 19.4.4 Recent Developments
- 19.5 Johnson & Johnson
- 19.5.1 Company Snapshot
- 19.5.2 Financial Overview
- 19.5.3 Product Portfolio
- 19.5.4 Recent Developments
- 19.6 Medtronic PLC
- 19.6.1 Company Snapshot
- 19.6.2 Financial Overview
- 19.6.3 Product Portfolio
- 19.6.4 Recent Developments
- 19.7 Koninklinje Philips NV
- 19.7.1 Company Snapshot
- 19.7.2 Financial Overview
- 19.7.3 Product Portfolio
- 19.7.4 Recent Developments
- 19.8 Siemens Healthineers (Siemens AG)
- 19.8.1 Company Snapshot
- 19.8.2 Financial Overview
- 19.8.3 Product Portfolio
- 19.8.4 Recent Developments
- 19.9 Smith & Nephew PLC
- 19.9.1 Company Snapshot
- 19.9.2 Financial Overview
- 19.9.3 Product Portfolio
- 19.9.4 Recent Developments
- 19.10 Stryker Corporation
- 19.10.1 Company Snapshot
- 19.10.2 Financial Overview
- 19.10.3 Product Portfolio
- 19.10.4 Recent Developments
- SECTION 20 - RELATED REPORTS
- SECTION 21 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.