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Medical Products Market Trends

  • Report ID: GMI4619
  • Published Date: Sep 2024
  • Report Format: PDF

Medical Products Market Trends

The market is witnessing several key trends that are influencing its growth trajectory. Continuous innovations in digital health and telemedicine, an increasing integration of artificial intelligence (AI) in healthcare and machine learning, and a surging demand for home healthcare and point-of-care testing are among the primary drivers of this industry's expansion.
 

  • Minimally invasive techniques, characterized by smaller incisions and reduced bodily trauma, are becoming the norm for numerous surgical procedures. These techniques not only shorten recovery times and lessen complications but also enhance patient outcomes. Methods like image-guided interventions and catheter-based treatments are rising in popularity, offering less invasive options compared to traditional surgeries.
     
  • Moreover, there's an escalating demand for medical products that empower patients to oversee their health from home. This encompasses portable diagnostic tools, home dialysis apparatus, and telehealth services. Point-of-care testing (POCT) devices deliver swift, on-site diagnostic results, facilitating prompt medical decisions. Their growing utilization in emergency rooms, clinics, and home environments is significantly boosting the demand for medical products.
Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Global medical products industry was valued at USD 25.2 billion in 2023 and is anticipated to register 5.7% CAGR between 2024 and 2032, driven by advancements in medical technology and rising prevalence of chronic diseases.

The wheelchairs segment in the market accounted for USD 6 billion in 2023 due to aging populations facing mobility challenge and advancements in medical care enhancing survival rates.

North America medical products market accounted for USD 8.5 billion in 2023 due to advanced healthcare infrastructure, cutting-edge technology integration, and high healthcare spending.

Antano Group, Cardinal Health, Inc., Compass Health Brands, Gendron Inc., Getinge AB, GF Health Products Inc., Hill-Rom Holdings, Inc., INTCO MEDICAL TECHNOLOGY CO., LTD, and Invacare Corporation, among others.

Medical Products Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 542
  • Countries covered: 23
  • Pages: 142
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