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Report details
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48
Figures
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65
Tables
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Chapter 1: Executive Summary
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Overview
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Size and Growth of the Market
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Top Companies
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Mergers and Acquisitions
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Scope and Methodology
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Conclusions
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Chapter 2: Introduction
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Overview
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Regulation in the United States
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Classification of Medical Devices
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Emergency Use Authorizations for Medical Devices – COVID-19 Related
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Regulation in Europe
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Regulation in Japan
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Regulation in China
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Regulation in Canada
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Regulation in Brazil
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World Health Care Trends
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Unique Device Identifier (UDI)
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Chapter 3: Mergers and Acquisitions
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Introduction
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Selected Recent Device Industry Mergers and Acquisitions
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Cordis Acquires MedAlliance
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Abbott Completes Acquisition of Bigfoot Biomedical
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Boston Scientific Agrees to Acquire Relievant MedSystems
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Inogen Completes Acquisition of Physio-Assist
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Laborie Medical Technologies Agrees to Acquire Urotronic
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Restor3d Completes Acquisition of Conformis
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Amber Therapeutics Acquires Bioinduction Limited
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STERIS Completes Acquisition of Assets from Beckton Dickinson
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Globus Medical Completes Acquisition of NuVasive
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Enovis Completes Acquisition of Novastep
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Zavation Acquires CoreLink
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Stryker Acquires Cerus Endovascular
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Merit Medical Acquires Dialysis Portfolio from AngioDynamics
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Abbott Signed Agreement to Acquire Cardiovascular Systems
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Shockwave Acquires Neovasc
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Bausch + Lomb Acquires AcuFocus
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Laborie Acquires Novonate
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Silony Medical Agrees to Acquire Centinel Spine’s Business
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Caldera Medical Acquires Atlantic Therapeutics
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Siemens Healthineers’ Varian Acquires Aspekt Solutions
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Envoy Medical Merges with Anzu Special Acquisition Corp
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Ra Medical Systems Acquires Catheter Precision
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Selected Large Historic Medical Device Acquisitions
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Medtronic Acquires Covidien and Other Companies
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Dentsply-Sirona Merger
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Stryker Corporation Active in M&A – Integrating Wright Medical
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AbbVie and Allergan - A $63 Billion Deal
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Chapter 4: Selected Specific Device Markets
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Blood Collection Supplies
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Catheters
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Contact Lenses
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CPAP Devices
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Critical Care Analysis - Blood Gas Analyzers
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Defibrillators
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Diabetes Management Devices
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Glucose Monitor and Consumable Market Value (2023): $ 20.2 billion
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Insulin Delivery Pump Market Value (2023): $4.1 billion
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Dialysis Equipment & Supplies
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Endoscopes
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Gastric Banding and Bariatric Devices
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Hernia Repair and Fixation Devices
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Hip Implants
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Infusion Pumps
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Intraocular Lens Devices
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Knee Implants
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Posterior-Stabilized Knee Implants
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Medical Beds
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Minimally Invasive Surgery (MIS)
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MRI
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Nasal Cannula
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Ostomy Products
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Pacemakers
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Patient Monitoring
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Personal Protective Equipment
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Medical Gloves Market Value (2023): $5.8 billion
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Stents
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Sterilization and Disinfection Equipment
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Ultrasound
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Wheelchairs
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Wound Care Devices, Advanced Technologies
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X-Ray
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Chapter 5: Market Analysis
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Market Drivers
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Aging Population
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Increase in Chronic Disease
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Market Constraints
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Pressure on Prices
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Group Purchasing Organization
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Value Analysis Committees
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Medical Device Size and Growth
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Market by Region
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Market by Country: Top 20
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United States Medical Device Market
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China Medical Device Market
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Japan Medical Device Market
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Germany Medical Device Market
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France Medical Device Market
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United Kingdom Medical Device Market
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Italy Medical Device Market
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Spain Medical Device Market
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Brazil Medical Device Market
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India Medical Device Market
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Canada Medical Device Market
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Australia Medical Device Market
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Russia Medical Device Market
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The Netherlands Medical Device Market
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Taiwan Medical Device Market
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South Korea Medical Device Market
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Switzerland Medical Device Market
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Sweden Medical Device Market
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Mexico Medical Device Market
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Turkey Medical Device Market
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Second Tier: Market by Country
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Chapter 6: Company Profiles: Bellwether
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Overview
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Medtronic
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Company Overview
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Products
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Company Financials
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Johnson & Johnson
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Company Overview
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Product Overview
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Company Financials
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Abbott Laboratories
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Company Overview
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Products
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Company Financials
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Becton Dickinson and Co. (BD)
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Company Overview
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Products
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Company Financials
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Siemens Healthineers
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Company Overview
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Products
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Company Financials
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Cardinal Health
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Company Overview
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Products
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Company Financials
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Royal Philips
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Company Overview
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Products
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Company Financials
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Roche
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Company Overview
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Products
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Company Financials
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Stryker Corporation
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Company Overview
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Products
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Company Financials
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GE Healthcare
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Company Overview
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Products
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Company Financials
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Boston Scientific Corp.
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Company Overview
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Products
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Company Financials
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Danaher Corp.
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Company Overview
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Company Financials
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Baxter International, Inc.
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Company Overview
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Products
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Company Financials
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Zimmer Biomet Holdings, Inc.
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Company Overview
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Products
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Company Financials
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Alcon
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Company Overview
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Products
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Company Financials
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Chapter 7: Other Market Participants
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Companies
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3M Health Care
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Asahi Kasei
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B. Braun Melsungen AG
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Canon Medical Systems
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Coloplast A/S
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ConvaTec
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Dentsply-Sirona
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Drägerwerk AG & Co. KGaA
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Fresenius SE & Co. KGaA
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ICU Medical
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Masimo Corporation
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Mindray Bio-Medical Electronics Co., Ltd.
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Mölnlycke Health Care AB
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Nova Biomedical
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Olympus Corporation
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ResMed
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Smith & Nephew plc.
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Steris plc
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Teleflex Inc
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Terumo Corporation
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Vyaire Medical
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ZimVie
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The Global Market for Medical Devices, 13th Edition
24 Oct 2023
The medical device industry, often referred to as the medtech industry, is an important aspect of the entire healthcare industry. The medical device industry is constantly updating and changing through the continued development of new technologies, equipment, tests and devices. Advancements in the medical device markets are life-changing and are allowing patients to live longer, healthier and more productive lives. However, the medical device industry has unique challenges. It is a heavily regulated industry in most nations of the world, as the regulatory section of this report details. Devices need to be approved for reimbursement and prices are negotiated in many cases by group purchasing organizations and governments. Companies in the field must make constant research and development investments to produce the innovations that drive market success. Yet, despite these challenges, devices also benefit from servicing an enlarging elderly population around the world. Devices are also among the first priority of emerging market nations, as they increase the size of their economies and their healthcare spending. Therefore, there are a great many device competitors and continued investors and venture capitalists interested in the field.
The 13th edition of Kalorama Information’s Global Market for Medical Devices consists of new market trends and forecasts. Market share position has changed for some companies as a result of the pandemic and for others due to mergers. Restructuring and divestitures of certain medical device units have impacted results as well.
As part of its coverage, this report contains:
- an overview of medical devices and relevant regulation in 50 world markets;
- market size estimate and forecast to 2028 for the global market, the United States market and several country markets, including China, Japan, India, Brazil, Germany, Canada and other nations;
- an index of bellwether device companies;
- markets for specific categories of medical devices;
- a look at market drivers and limiters;
- and company profiles of major device concerns.
The definition of a medical device is a broad one. A medical device is a product that is used in treatment, diagnosis, or injury repair in a patient that does not achieve its effect through chemical action or metabolism in the human body. Most importantly, they are devices that are regulated. Because of the broad definition, estimates of medical device markets vary, as any item from a nuclear camera or catheter to a latex glove can be considered a medical device. In consideration of the fragmentation of this market, several reports vary on the definition, scope and methodology in calculating the total medical device market. In this report, medical devices include those that are used to treat, diagnose or monitor a condition. Excluded are areas of medical IT, which because of the complex nature of these markets, have been reviewed separately by Kalorama Information in other reports, including Electronic Health Records (EHRs) and healthcare cloud products. Also, excluded are services associated with many devices including laboratory service fees and patient monitoring services. It is a scattered market in which hundreds of companies participate worldwide. Despite this, 15 companies earned almost half of the revenues in this market. In addition, much of the revenue is earned in a few discernible categories:
- cardiovascular,
- dialysis,
- respiratory,
- in vitro diagnostics (IVD),
- patient monitoring,
- wound care,
- imaging
- Dental
- Minimally invasive surgical instruments
- and orthopedics being top areas.
Top Companies Covered
Because of the variety of types of medical devices, there are several hundred competitors. There is a growing trend toward consolidation in the industry and as a result the top 15 companies are maintaining and/or gaining a growing percentage of the market with each year. Additionally, there is a great deal of shifting in ranking as a big acquisition could catapult a company several spots up the ladder. Most companies operate in just a few markets, though the top companies such as Medtronic, J&J, Siemens Healthineers, Danaher, and Philips are multi-billion-dollar companies that operate in several categories. There are thousands of companies making devices in the United States alone, most of these private, and many having less than 50 employees.
In each edition, Kalorama Information looks at 12-15 companies in the industry that are large, global and representative of different categories of medical devices. The companies’ performance provides insight into the performance of the global device market and reveals trends in geographic sales distribution and research and development spending. The following companies make up Kalorama’s Index of Bellwether Device Companies.
- Abbott Laboratories
- Alcon
- Baxter
- Becton Dickinson
- Boston Scientific
- Cardinal Health
- Danaher Corp.
- GE Healthcare
- Johnson & Johnson
- Medtronic
- Philips
- Roche
- Siemens Healthineers
- Stryker Corp.
- Zimmer Biomet
Scope and Methodology
This report was assembled using both secondary and primary data. Data from Kalorama Information’s previous medical device reports, in addition to company annual reports, trade publications, government, Ministries of Health and medical literature were used as a foundation for estimates. The authors draw on more than two decades of knowledge and experience and completed a range of personal interviews with executives at medical device companies to provide as a key source of estimates for specific device markets. Further analysis is derived from statistical methods and various analytical practices to evaluate indicators for market size and forecasting. More than 50 countries were analyzed with comprehensive processes including interviews and published documents. Kalorama Information focuses on estimates of manufacturer revenues for business planning. Kalorama Information has already conducted scores of studies in medical devices.
Page Count: 312
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