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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.
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.
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.
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.