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(May 15, 2018)
Medical Device & Accessories Market information: by types of device, (coronary pressure monitors, therapeutic medical guide, global nerve stimulator market, global diabetes monitors market, and global suture needles market) – Global forecast till 2023
Furthermore, the global Medical Device & Accessories Market is expected to grow at a CAGR of 6.53% during the forecast period 2017-2023.
KEY PLAYERS FOR MEDICAL DEVICE & ACCESSORIES MARKET
Boston Scientific Corporation (U.S.), Medtronic (Ireland), Johnson & Johnson Services, Inc. (U.S.), Stryker Corporation (U.S.), koninklijke philips n.v (the Netherlands), General Electric Company (U.S.), Siemens AG (U.S.), Danaher Corporation (U.S.).
MARKET SCENARIO FOR MEDICAL DEVICE & ACCESSORIES MARKET
Medical device refers to any instrument, apparatus, implement, machine, appliance, implant, or reagent that is used together or alone for human beings in diagnosis, monitoring, and treatment of different diseases. These devices can be used for a wide range of diseases such as diabetes, cardiovascular diseases, cancer, GI diseases and many more.
Rising prevalence of chronic disease, improvement of surgical outcomes, acceptance of advanced medical devices & accessories by patients, and increasing aging population around the world are the key drivers for the medical device & accessories market. According to the American Heart Association, in 2017, cardiovascular disease was listed as the most common cause of death, which accounted for nearly 801,000 deaths in the U.S. About 2,200 Americans die of cardiovascular disease each day. Additionally, according to the American Diabetes Association in 2015, 30.3 million Americans, i.e. 9.4% of the total Americas population was noted to suffer from diabetes.
Moreover, companies are investing more in research and development, in order to provide better treatment procedures. This research and development activities help to launch of new treatment procedure, such as, Stryker Corporation, in October 2017, announced the launch of Practice Excellence Program, a new implementation service to help physician practice to drive profitability, efficiency, and quality outcomes.
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SEGMENTATION FOR MEDICAL DEVICE & ACCESSORIES MARKET
The global medical device & accessories market is segmented on the basis of the types of devices.
On the basis of the types of devices, it is segmented into cardiovascular application, coronary pressure monitors, catheters, therapeutic medical guide, dental implant, cochlear implant, global nerve stimulator market, global diabetes monitors market, and global suture needles market. Furthermore, the cardiovascular application segment is sub-segmented into cardiac monitors, cardiac pacemaker, cardiac defibrillators, and others. The coronary Pressure Monitor segment is sub-segmented into sphygmomanometer, automated blood pressure monitor, BP transducers, ambulatory blood pressure monitor, and instruments & accessories. The catheter segment is further sub-segmented into cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, neurological catheters. The therapeutic medical guidewire segment is sub-segmented into solid guidewire and wrapped guidewire. The nerve stimulator market is sub-segmented into deep brain stimulator, vagus nerve stimulator, and spinal cord stimulator.
REGIONAL ANALYSIS FOR MEDICAL DEVICE & ACCESSORIES MARKET
The Americas dominate the global medical device & accessories market owing to well-developed technology, high healthcare expenditure and the presence of the leading players, and focus of research institutions on updating technology for new and advanced medical device & accessories devices.
Europe holds the second position in the market owing to the increasing support from the government, increasing the prevalence of chronic diseases, and high healthcare spending. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014, France recorded the second highest level of current healthcare expenditure of EUR 237 billion.
Asia Pacific is the fastest growing market owing to increasing need for better monitoring devices, rapidly improving technology, and presence of huge patient pool. Moreover, government bodies in this region are more focused to get a better treatment option to improve the lifestyle of their citizen.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and poor development in the healthcare domain.
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MAJOR TOC FOR MEDICAL DEVICE & ACCESSORIES MARKET
CHAPTER 1. REPORT PROLOGUE
CHAPTER 2. MARKET INTRODUCTION
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.5 Market Structure
CHAPTER 3. RESEARCH METHODOLOGY
3.1 Primary Research Methodology
3.2 Secondary Research Methodology
3.3 Market Share Analysis
3.4 Market Pricing Approach
CHAPTER 4. MARKET DYNAMICS
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Rising Economic Growth
4.2.3 Increasing Geriatric Population
4.2.4 Increasing Use of Non-Invasive Devices
4.3.1 Stringent Government Regulation
4.3.2 Lack of Research and Development in Underdeveloped Region
CHAPTER 5. MARKET FACTOR ANALYSIS
5.1 Value Chain Analysis
5.1.1 R&D and Designing
5.1.3 Distribution & Sales
5.1.4 Post-Sales Review
5.2 Porter’s Five Forces Model
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Buyers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitutes
5.2.5 Intensity of Rivalry
5.3 Pricing Analysis
5.4 Macroeconomic Indicators
LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 GLOBAL MEDICAL DEVICES & ACCESSORIES MARKET BY TYPE OF DEVICE, 2014 TO 2023 (USD MILLION)
TABLE 3 GLOBAL CARDIOVASCULAR APPLICATION MARKET BY TYPE OF DEVICE, 2014 TO 2023 (USD MILLION)
TABLE 4 GLOBAL CORONARY PRESSURE MONITOR MARKET BY TYPE OF DEVICE, 2014 TO 2023 (USD MILLION)
TABLE 5 GLOBAL CATHETER MARKET BY TYPE OF DEVICE, 2014 TO 2023 (USD MILLION)
TABLE 6 GLOBAL THERAPEUTIC MEDICAL GUIDEWIRE MARKET BY TYPE OF DEVICE, 2014 TO 2023 (USD MILLION)
LIST OF FIGURES
FIGURE 1 GLOBAL MEDICAL DEVICE & ACCESSORIES MARKET, 2014 TO 2023 (USD MILLION)
FIGURE 2 GLOBAL MEDICAL DEVICE & ACCESSORIES MARKET SHARE BY TYPE OF DEVICE, 2016 (%)
FIGURE 3 GLOBAL MEDICAL DEVICE & ACCESSORIES MARKET SHARE BY REGION, 2016 (%)
FIGURE 4 MARKET STRUCTURE OF GLOBAL MEDICAL DEVICE & ACCESSORIES MARKET
FIGURE 5 RESEARCH METHODOLOGY
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