Medical device and accessories market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 181,354.14 million by 2028 and will grow at a CAGR of 6.41% in the above mentioned forecast period.
Medical devices and accessories largely offer various advantages both to patient by helping the healthcare providers to diagnose and treat patient. Also they help the patients to their quality of life.
The growing government and companies investment in healthcare projects and infrastructure development is amongst the important factors intensifying the growth and demand of medical device and accessories market. In addition, the rising prevalence of chronic diseases across the globe and growing number of surgical procedures are also contributing to the growth in the global market over the forecast period of 2021 to 2028. Also the increasing economic growth and rising geriatric population are also enhancing the growth of the market. Furthermore, the increasing use of non-invasive devices and increasing disease awareness are also one of the significant factors fueling the growth of the medical device and accessories market. Increasing demand for infection control measures to curtail the occurrence of hospital-acquired infections will also make sure high industry growth over the forecast period.
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North America region leads the medical device and accessories market owing to the presence of major key players as well as strong presence of huge patient population, soaring healthcare expenditure and well-developed technology within the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rapidly improving technology, growing need for better monitoring devices and the presence of large patient pool within this particular region.
The major players covered in the medical device and accessories market report are Abbott, Medtronic, Koninklijke Philips N.V., SAMSUNG, BD, Johnson & Johnson Services, Inc., Stryker, GENERAL ELECTRIC COMPANY, Siemens Healthcare GmbH, Danaher, Boston Scientific Corporation, Baxter, 3M, Cook, Merit Medical Systems, Thermo Fisher Scientific, Inc., Smith+Nephew, B. Braun Melsungen AG, Cardinal Health and Fresenius Medical Care AG & Co. KGaA among other domestic and global players.
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