Medical Device Market - Executive Summary Report
• The Global Medical Device Industry’s current worth stands at USD 432.23 Bn and is expected to be reach USD 612.7 Bn by 2025, growing at a CAGR of 5.4%. The United States is the market leader and is worth USD 168 Bn in 2020.
• The global market is fragmented, with players like Medtronic, Johnson & Johnson Services, Inc., Abbott, Stryker accounting for a major share in 2020. The top market players focus on strategies such as acquisitions, collaborations, and new product developments and launches to strengthen their market position globally.
• Increasing investment of medical technology companies in research & development and favorable scenarios provided by regulatory authorities for their approval is expected to boost the medical devices industry in the forecast period.
• The medical devices sector in India comprises large multinationals and small and midsized companies. The Government of India (GOI) has commenced various initiatives to strengthen the medical devices sector, with emphasis on research and development (R&D) and 100% FDI for medical devices to boost the market. From April 2000 to December 2020, FDI inflow in the medical and surgical appliances sector stood at US$ 2.18 billion.
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