Growth in the global medical device market

Cleveland, Ohio – Research and Markets has announced the addition of the "Growth Opportunities in the Global Medical Device Market by Application Type (surgical & infection control, general medical devices, cardiovascular, home healthcare), and by Region 2016-2021: Trends, Forecast, and Opportunity Analysis" report to their offering.

The global medical device market is expected to reach an estimated $342.9 billion by 2021 with a CAGR of 4.6% from 2016 to 2021. The major drivers of growth for this market are the growth in healthcare expenditure, increasing health awareness, and ageing population.

The emerging trends, which have a direct impact on the dynamics of the industry, include design and manufacturing of portable and smaller devices and increasing usage of software as a differentiator in medical devices.

The report forecasts that cardiovascular is expected to remain as the largest market supported by growth in multiple chronic cardiovascular diseases and increasing ageing population. The author predicts that the general medical device segment is likely to experience the highest growth during forecast period due to the growth in hospitals and healthcare institutions. In this market, surgical & infection control, general medical devices, cardiovascular, and home healthcare are the major applications.

North America is expected to remain the largest market due to the high number of ageing population with multiple chronic diseases and stringent government regulation related to healthcare.

Companies mentioned:

• 3M
• Abbott Laboratories
• Boston Scientific Corp.
• Johnson & Johnson
• Medtronic
• Philips
• Roche Holding Ltd.
• St. Jude Medical Inc.

Source: http://www.researchandmarkets.com/research/6vj7gs/growth