Market research reports, consulting: Global Market Insights Inc.

Home > Healthcare > Medical Devices > Rehabilitation and Assistive Devices > medical products market

Medical Products Market Trends

Report ID: GMI4619 Published Date: September 2024Report Format: PDF
Download Free Sample
Summary
Table of Content

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.
Author: Mariam Faizullabhoy , Gauri Wani
Frequently Asked Question(FAQ) :

Why is the medical products industry booming in North America?+

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.

Who are the leading medical products industry players?+

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.

Why is the demand for wheelchairs medical products rising?+

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.

What is the size of the medical products market?+

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.

Medical Products Market Scope

Related Reports

Buy Now

Premium Report Details

Download Free Sample