Kenneth Research has evaluated the current market opportunities in Global Medical Device Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Medical Device Market Products.
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According to the U.S. Centers for Medicare & Medicaid Services, the national health spending is estimated to grow at an annual rate of 5.5% during 2018-2027 in the United States. Moreover, the total spending in the healthcare industry in the country is anticipated to reach around USD 6 trillion by the end of 2027. On the back of such factors, the market is predicted to observe a significant growth in the next few years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global medical devices (MD) market represents a steady growing industrial sector as well as an attractive investment opportunity for profitable rewards. However, the potential for greater investment return may be constrained by a number of barriers and risks in global medical device market — most notably, maturing industry growth stage, challenging and changing regulatory laws and procedures, and declining profit margins. Hence, in-depth information and enhanced strategic intelligence are needed to minimize the potential risks associated with new entrants into the global medical device industry.
This report focuses on systematic evaluation and analysis of Internal Risks (arising within the industry development itself) and External Risks (arising from the surrounding environments) in global medical devices industry and market. The major internal risks recognized in this industry include industry growth stage, industry competition pressure, market entry barriers, industry volatility, and technology challenge. The major external risks include factors like profit decline, regulation force, effect of foreign direct investment, and other risks (namely shortage of upstream supply, competition from substitutes, and purchase potential decrease).
The risk evaluation and threat rating concentrate on worldwide medical device market under the industry conditions and environments in 2014. Forecasts and projections have been performed for the trend of industry risk over the next six years (2014-2020). All the identified risk factors are measured quantitatively according to GMD’s novel numeric system, i.e. each risk is evaluated with GMD Risk Index Number (GMD RIN) and GMD Risk Intensity Level (GMD RIL). These in-depth appraisals and analysis about risk considerations & controls provide a comprehensive understanding of the current risk factors and likelihood of risk development trends. Moreover, this report also provides wise risk management strategies and concludes Critical Success Factors (CSFs) to help identify fresh growth point and overcome the threats and obstacles of doing manufacture/business in global medical device industry.
Key Players:
Johnson & Johnson
GE Healthcare
Medtronic Inc.
Siemens AG
Baxter International Inc.
Fresenius Medical Care AG & Co. KGAA
Koninklijke Philips NV
Cardinal Health Inc.
Novartis AG
Covidien plc
Stryker Corp.
Becton, Dickinson and Co.
Boston Scientific Corp.
Essilor International SA
Allergan Inc.
St. Jude Medical Inc.
3M Co.
Abbott Laboratories
Zimmer Holdings Inc.
Terumo Corp.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Global Medical Device Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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