PUBLISHER: Market Research Future | PRODUCT CODE: 1578152
PUBLISHER: Market Research Future | PRODUCT CODE: 1578152
Europe Medical Devices Market Research Report data Analysis by Product Type (Drug Delivery System, Diagnostic Devices, Invasive Devices, Respiratory Therapeutic Devices, Electronic Medical Device, and Others), by Application (cardiovascular diseases, diagnostic imaging, orthopedics, oncology, ophthalmology, general surgery, respiratory, dental, ENT, neurology, nephrology & urology, and others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Homecare Settings And Others) Forecast to 2032
Overview of the Market
During the study period, the European medical devices market is expected to grow significantly at a robust compound annual growth rate (CAGR) of 6.44%. Medical devices are tools, equipment, machinery, implants, in vitro chemicals, or other products designed to be used in the diagnosis, prevention, monitoring, treatment, or mitigation of illness or injury. They range from basic devices like tongue depressors and thermometers to sophisticated devices like surgical robots and MRI scanners.
The market for medical devices is expanding due to the rising prevalence of chronic illnesses throughout Europe as well as the rising investment and acquisition of medical equipment. industry participants' voluntary product recalls are another element that restrains the industry. Nonetheless, the industry will have future growth prospects thanks to the medical devices' present and developing technology.
Segmenting the Market
Drug delivery systems, diagnostic devices, invasive devices, respiratory therapy devices, electronic medical devices, and others are the product categories into which the European medical devices market has been divided.
Cardiovascular disorders, diagnostic imaging, orthopedics, oncology, ophthalmology, general surgery, respiratory, dental, ENT, neurology, nephrology & urology, and other areas have been the segments of the European medical devices market according to their respective applications.
The end-user hospitals and clinics, ambulatory surgery centers, homecare settings, and other factors have been used to segment the European medical devices market.
The medical devices market in Europe, which was valued at USD 1,59,198.01 million in 2022, is expected to expand at a compound annual growth rate (CAGR) of 6.44% during the forecast period. Germany, France, the United Kingdom, Italy, Spain, Switzerland, the Netherlands, Turkey, Poland, Sweden, Norway, Belgium, Ireland, Austria, Denmark, and the rest of Europe are further divisions of Europe.
Siemens Healthineers AG (Germany), Medtronic plc, Johnson & Johnson Services, Inc., GE Healthcare, Koninklijke Philips N.V., Stryker, Abbott, and Boston Scientific Corporation are the major participants in the European medical device market.