Medical Devices: Technologies and Global Markets
Bharat Book Bureau Provides the Trending Industry Research Report on “Medical Devices:
Technologies and Global Markets” under Medical Devices Market Research Category. The
report offers a collection of superior Industry research, Industry analysis, competitive
intelligence and Industry reports.
The global market for Medical Device Technologies was valued at $REDACTED billion in
2019. The market is expected to grow at a compound annual growth rate (CAGR) of
REDACTED% to reach approximately $REDACTED billion by 2025. The global market's growth
is attributed to the growing prevalence of chronic diseases, arise in the world’s geriatric
population, growing demand for minimally-invasive procedures, rising COVID-19 cases and
an increasing number of product launches.
Various governments are looking at medical device technology companies in efforts to make
healthcare more affordable. Some governments in Western Europe encourage older adults
to stay in their homes for longer periods in order to trim budgets. There is considerable
pressure on medical device technology firms to ensure compliance with different varying
regulatory standards. Governments of various regions have framed rules and regulations in
order to ensure that these companies meet safety and efficacy criteria for their devices.
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Regionally, growth is expected in the developing countries of the Asia-Pacific region for
various reasons, including the growing number of medical procedures being covered by
insurance companies, increased government spending on healthcare, growing geriatric
populations, rising awareness among people concerning healthcare and a rise in disposable
income. India and China are lucrative markets, with populations of over one billion each and
favorable economic growth rates despite the recent global downturn. Companies have