The U.S. medical device manufacturers market size is expected to reach USD 226.7 billion by 2025, according to a new report by Grand View Research, Inc., registering a 5.0% CAGR during the forecast period. Developing countries offer new investment avenues to global market giants, especially the ones in U.S. Developing healthcare infrastructure and increasing disease burden are driving demand for advanced medical devices in these countries.
Increasing
geriatric population in U.S. is one of the major factors driving demand for
various medical devices, thereby attracting new entrants into the market. This
is anticipated to create a positive environment for entry of new players. They
are highly capital intensive in some segments, such as cardiac monitors and
oxygen equipment. A significant amount of seed capital is required to set up a
manufacturing facility.
In
recent years, the imaging equipment segment has witnessed a large number of new
product launches and currently has a significant number of products in
pipeline. Diagnostic imaging is an important tool for diagnosis of a wide range
of chronic as well as acute diseases. Early diagnosis leads to detection of
chronic diseases at earlier stages, which helps decrease total healthcare
costs.
Product
launches, mergers, and acquisitions are anticipated to aid companies in
expanding their client base, leading toward market growth. For instance, in
March 2017, GE Healthcare acquired Monica Healthcare.In April 2017, Abbott and
Alere amended the terms of their merger agreement for the former’s acquisition
of the latter. The acquisition is expected to aid in the expansion of Abott’s
presence in the global diagnostics industry.
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U.S. Medical Device
Manufacturers Market Report Highlights
- The diagnostic imaging
segment captured the largest market share in 2017 owing to growing demand
for accurate diagnostic solutions
- The patient aids segment is
anticipated to grow at the fastest rate over the forecast period
- Some of the key players in
the market are 3M, Abbott Laboratories, Baxter International, Boston
Scientific Corporation, B. Braun Melsungen, GE Healthcare, Johnson and
Johnson, and Medtronic.
- Product launches, mergers,
and acquisitions are expected to help companies increase their client
base, leading toward market growth.
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U.S. Medical Device
Manufacturers Market Segmentation
Grand View Research has segmented
the U.S. medical device Manufacturers market on the basis of type:
U.S. Medical Device
Manufacturers Type Outlook (Revenue, USD Million, 2014 - 2025)
- Diagnostic imaging
- Consumables
- Patient Aids
- Orthopedics
- Others
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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