North America Medical Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (In Vitro Diagnostics (IVD), Surgical Device, General Medical Devices, Cardiovascular Devices, Orthopedic, Infection Control Devices, Ophthalmology, Endoscopy, Neurology, Others); Function (Diagnostic and Monitoring, Therapeutics, Surgical, Others); End User (Homecare Medical Devices, Hospital Medical Devices, Ambulatory Care Medical Devices, Others); and Country
Market Introduction
A medical device can be a machine, instrument, apparatus, an article that is used to diagnose, monitor, and therapeutic purposes. A medical device plays an essential role, such as detection, measurement, restoration, and modification of the structure or a function of the body due to health problems or chronic medical conditions. There are various types of medical devices, which include glasses, pacemakers, wheelchairs, X-ray machines, MRI, CT scans, and many more. These medical devices are categorized into four classes, such as I, IIa, IIb, and III. The categories of the medical devices are based on the Food and Drug Administration and CE marking. The organizations have categorized class I as low-risk medical devices and class III high-risk medical devices.
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Market Overview and Dynamics
The North Americamedical devices market is expected to reach US$ 318,973.1 millionby 2027 from US$ 197,215.1 million in 2019. The market is anticipated to grow with a CAGR of 6.4% from 2020 to 2027. Factors driving the market growth include growing in medical device industry, and rising chronic disease prevalence.COVID19 has impacted the market heavily due to disruption in supply chain and lockdown conditions. However, the challenges in medical device industry like expensive product approvals restrains the growth of the market.
Key Market Segments
In terms of product type, the In-vitro diagnosticdevice segment held the largest share of the market in 2019; however, the neurologysegment is anticipated to register the highest CAGR in the market during the forecast period. In terms of function, the diagnostic and monitoring segment held a larger share of the market in 2019and the surgicalsegment is estimated to register a higher market sharein the market during the forecast period. Likewise, in terms of end user, the hospital segment held a larger share of the market in 2019 and is estimated to register a higher CAGR in the market during the forecast period.
Major Sources and Companies Listed
The World Health Organization (WHO), Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), and Canadian MedTech Manufacturers’ Alliance are some of the major primary and secondary sources for the North Americamedical devices market included in the report.
Reasons to buy the report
- To understand the North Americamedical devicesmarket landscape and identifymarket segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for the North Americamedical devices market
- Efficiently plan M&A and partnership dealsin the North Americamedical devicesmarket by identifying market segments with the most promising probable sales
- Helps to takeknowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form the North Americamedical devicesmarket
- Obtain market revenue forecast for market by various segments from 2019 to 2027 in the region
North AmericaMedical devices Market Segmentation
By Product Type
- Surgical Devices
- Electrosurgical Generators
- Ultrasonic Surgical Generators
- Minimally Invasive Surgery Devices
- Other Surgical Devices
- Infection Control Devices
- General Medical Devices
- Cardiovascular Devices
- Orthopaedic Devices
- In Vitro Diagnostics (IVD)
- Endoscopy
- Neurology
- Ophthalmology
- Others
By Function
· Diagnostic and Monitoring
· Therapeutics
· Surgical
· Others
By End User
· Homecare Medical Devices
· Hospital Medical Devices
· Ambulatory Care Medical Devices
· Others
Company Profiles
- Medtronic
- Abbott
- Boston Scientific Corporation
- Braun Melsungen AG
- 3M
- General Electric Company
- Stryker Corporation
- Koninklijke Philips N.V.
- Siemens AG;
- Johnson and Johnson Services, Inc.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Medical Devices Market – By Product Type
1.3.2 North America Medical Devices Market – By Function
1.3.3 North America Medical Devices Market – By End User
1.3.4 North America Medical Devices Market– By Region
2. Medical Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Medical Devices – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
5. North America Medical Device Market – Industry Dynamics
5.1 Key Drivers
5.1.1 Rising Medical Device Industry
5.1.2 Rising Chronic Disease Prevalence
5.2 Market Restraints
5.2.1 Challenges in Medical Device Industry
5.3 Market Opportunities
5.3.1 Rising Government Support on Medical Technologies
5.4 Future Trends
5.4.1 Smart Medical Devices Revolutionising Medical Device Industry
5.5 Impact Analysis
6. Medical Devices Market – Regional Analysis
6.1 North America Medical Devices Market Revenue Forecast And Analysis
7. North America Medical Device Market Analysis – By Product Type
7.1 Overview
7.2 Medical Devices Market Share, by Product Type, 2019 and 2027 (%)
7.3 Surgical Devices
7.3.1 Overview
7.3.2 Surgical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.3.3 Electrosurgical Generators
7.3.4 Overview
7.3.5 Electrosurgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.3.6 Ultrasonic Surgical Generators
7.3.7 Overview
7.3.8 Ultrasonic Surgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.3.9 Minimally Invasive Surgery Instruments
7.3.10 Overview
7.3.11 Minimally Invasive Surgery Instruments: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.3.12 Others
7.3.13 Overview
7.3.14 Others: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.4 Infection Control Devices
7.4.1 Overview
7.4.2 Infection Control Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.5 General Medical Devices
7.5.1 Overview
7.5.2 General Medical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.6 Cardiovascular Devices
7.6.1 Overview
7.6.2 Cardiovascular Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
7.7 Neurological Devices
7.7.1 Overview
7.7.2 Neurological Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Ophthalmology Devices
7.8.1 Overview
7.8.2 Ophthalmology Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.9 Orthopedic Devices
7.9.1 Overview
7.9.2 Orthopedic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.10 In-vitro Diagnostic Devices
7.10.1 Overview
7.10.2 In-vitro Diagnostic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.11 Endoscopy Devices
7.11.1 Overview
7.11.2 Endoscopy Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.12 Others
7.12.1 Overview
7.12.2 Others: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
8. Medical Devices Market– By Function
8.1 Overview
8.2 Medical Devices Market Share, by Function, 2019 and 2027 (%)
8.3 Diagnostic and Monitoring
8.3.1 Overview
8.3.2 Diagnostic and Monitoring: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
8.4 Therapeutics
8.4.1 Overview
8.4.2 Therapeutics: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
8.5 Surgical
8.5.1 Overview
8.5.2 Surgical: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
9. Medical Device Market Analysis – By End User
9.1 Overview
9.2 Medical Device Market Share, by End User, 2019 and 2027, (%)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Homecare
9.4.1 Overview
9.4.2 Homecare: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Ambulatory Care
9.5.1 Overview
9.5.2 Ambulatory Care: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
10. Medical Devices Market – Geographic Analysis
10.1 North America: Medical Devices Market
10.1.1 Overview
10.1.2 North America: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.3 North America: Medical Devices Market, by Product Type, 2018–2027 (USD Million)
10.1.3.1 North America: Medical Devices Market, by Surgical Devices, 2018–2027 (USD Million)
10.1.4 North America: Medical Devices Market, by Function, 2018–2027 (USD Million)
10.1.5 North America: Medical Devices Market, by End User, 2018–2027 (USD Million)
10.1.6 North America: Medical Devices Market, by Country, 2019& 2027 (%)
10.1.6.1 US: MEDICAL Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.1.1 US: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.1.2 US: Medical Devices Market, by Product Type, 2018–2027 (USD Million)
10.1.6.1.2.1 US: Medical Devices Market, by Surgical Device, 2018–2027 (USD Million)
10.1.6.1.3 US: Medical Devices Market, by Function, 2018–2027 (USD Million)
10.1.6.1.4 US: Medical Devices Market, by End User , 2018–2027 (USD Million)
10.1.6.2 Canada: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.2.1 Canada: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.2.2 Canada: Medical Devices Market, by Product Type, 2018–2027 (USD Million)
10.1.6.2.2.1 Canada: Medical Devices Market, by Surgical Device, 2018–2027 (USD Million)
10.1.6.2.3 Canada: Medical Devices Market, by Function, 2018–2027 (USD Million)
10.1.6.2.4 Canada: Medical Devices Market, by End User , 2018–2027 (USD Million)
10.1.6.3 Mexico: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.3.1 Mexico: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.4 Mexico Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.6.4.1 Mexico Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
10.1.6.5 Mexico Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
10.1.6.6 Mexico Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
11. Impact Of COVID-19 Pandemic On Global Medical Devices Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Medical Devices Market – Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. COMPANY PROFILES
13.1 Medtronic
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Abbott
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Boston Scientific Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Braun Melsungen AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 3M
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 General Electric Company
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Stryker Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Koninklijke Philips N.V.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Siemens AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Johnson and Johnson Services, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Glossary of Terms
LIST OF TABLES
Table 1. North America Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 2. North America Medical Devices Market, by Surgical Devices, – Revenue and Forecast to 2027 (USD Million)
Table 3. North America Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
Table 4. North America Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 5. US Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 6. US Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 7. US Medical Devices Market, by Function– Revenue and Forecast to 2027 (USD Million)
Table 8. US Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 9. Canada Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 10. Canada Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 11. Canada Medical Devices Market, by Function– Revenue and Forecast to 2027 (USD Million)
Table 12. Canada Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 13. Mexico Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 14. Mexico Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 15. Mexico Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
Table 16. Mexico Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 17. Organic Developments Done By Companies
Table 18. Inorganic Developments Done by Companies
Table 19. Glossary of Terms, Medical Devices Market
LIST OF FIGURES
Figure 1. Medical Devices Market Segmentation
Figure 2. Medical Devices Segmentation – By Region
Figure 3. North America Medical Devices Market Overview
Figure 4. In Vitro Diagnostics (IVD) Segment Held Largest Share of Medical Devices Market in 2019
Figure 5. Medical Devices Market in US to Show Remarkable Growth During Forecast Period
Figure 7. North America PEST Analysis
Figure 8. Medical Devices Market Impact Analysis of Driver and Restraints
Figure 9. North America Medical Devices Market – Revenue Forecast And Analysis – 2019- 2027
Figure 10. Medical devices market Share, by Product Type, 2019 and 2027 (%)
Figure 11. Surgical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 12. Electrosurgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 13. Ultrasonic Surgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 14. Minimally Invasive Surgery Instruments: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 15. Others: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 16. Infection Control Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 17. General Medical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 18. Cardiovascular Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Neurological Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Ophthalmology Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Orthopedic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. In-vitro Diagnostic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Endoscopy Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Others: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Medical Devices Market Share, by Function, 2019 and 2027 (%)
Figure 26. Diagnostic and Monitoring: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 27. Therapeutics: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 28. Surgical: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 29. Others: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 30. Medical Device Market Share, by End User, 2019 and 2027 (%)
Figure 31. Hospitals: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Homecare: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Ambulatory Care: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Others: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. North America: Medical Devices Market, by Key Country – Revenue (2019) (USD Million)
Figure 36. North America Medical Devices Market Revenue and Forecast to 2027 (USD Million)
Figure 37. North America: Medical Devices Market, by Country, 2019 & 2027 (%)
Figure 38. US: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 39. Canada: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 40. Mexico: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 41. Impact of COVID-19 Pandemic In North American Country Markets
Figure 42. Growth Strategies Done by the Companies in the Market, (%)
- Medtronic
- Abbott
- Boston Scientific Corporation
- Braun Melsungen AG
- 3M
- General Electric Company
- Stryker Corporation
- Koninklijke Philips N.V.
- Siemens AG;
- Johnson and Johnson Services, Inc.
- To understand the North Americamedical devicesmarket landscape and identifymarket segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for the North Americamedical devices market
- Efficiently plan M&A and partnership dealsin the North Americamedical devicesmarket by identifying market segments with the most promising probable sales
- Helps to takeknowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form the North Americamedical devicesmarket
- Obtain market revenue forecast for market by various segments from 2019 to 2027 in the region