Electromedical Devices Market annual growth rate (CAGR) of 7.2% for the period of 2018-2023
The global market for electromedical devices reached $41.3 billion in 2018 and should reach $58.5 billion by 2023, at a compound annual growth rate (CAGR) of 7.2% for the period of 2018-2023.
The scope of this report is broad and covers various devices available in the electromedical equipment market and potential application sectors across various end users. The electromedical equipment market is broken down by device type. Revenue forecasts from 2018 to 2023 are given for each device and end user with estimated values derived from the revenue of manufacturers total revenues.
The report also includes a discussion of the major players across each regional electromedical equipment market. Further, it explains the major drivers and regional dynamics of the global electromedical equipment market and current trends within the industry.
The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global electromedical equipment market.
– An overview of global electromedical equipment market
– Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Characterisation and quantification of electromedical equipment market based on device type, end user and region
– Coverage of strategies adopted by key players, mergers and acquisitions, joint ventures and innovations within electromedical equipment industry
– Information on regulatory framework, growth indicators and key decision supporting factors
– Company profiles of leading market participants within the industry, including Abbott, Boston Scientific Corp., Fujifilm Holding Corp., Ge Healthcare, Hitachi, Johnson & Johnson Services, Inc., Siemens Healthcare and Zimmer Biomet
Summary
Electronic medical equipment is mainly medical and healthcare devices that have across cardiovascular, ophthalmology, dental and orthopedic applications. Electromedical equipment includes patient assistive devices, diagnostics imaging devices and surgical devices.
Surging development of modern diagnostic imaging devices along with rising demand for imaging in the diagnosis and monitoring of chronic diseases are contributing to growth in the global electromedical devices market. A shift toward minimally invasive procedures and rising adoption of hybrid operating rooms are also providing traction for the market. Secondary factors such as frequent promotion of the increasing number of surgical procedures and high growth in patient care devices are also driving the global electromedical devices market.
Rising demand for imaging in the diagnosis and monitoring of chronic diseases is the main driver for the growth in the global electromedical devices market. Increased demand for medical imaging is noted due to its vast applications in cardiology and oncology. Heart valve replacement is the most common procedure in cardiology. Transcatheter aortic valve replacement is one minimally invasive heart valve replacement procedure. Positioning the new heart valve is a serious concern for surgeons. Due to the importance of positioning, surgeons prefer 3-D angiography imaging software to view the anatomy during placement of heart valves. As the number of heart surgeries increases across the globe, the use of 3-D medical imaging and surgical platforms is expected to increase over the forecast period of 2018 to 2023. Preference for minimally invasive procedures also calls for the adoption of electromedical devices. According to the International Society of Aesthetic Plastic Surgery, non-surgical procedures accounted for a 10% increase from 2015-2016. In 2015, the total number of non-surgical procedures were around 12.0 million, then 13.2 million in 2016.
The global electromedical devices market is projected to rise at a compound annual growth rate (CAGR) of REDACTED during the forecast period. In 2023, total revenues are expected to reach more than REDACTED, rising from REDACTED in 2017.
This report provides an analysis of each market segment, including devices type and end users. The device type segment is further sub-segmented into diagnostics imaging devices, surgical devices and patient care devices. The diagnostics imaging devices segment of electromedical devices market heldthe largest market share (REDACTED in 2017) in terms of revenue, followed by patient assistive devices and surgical devices. By 2023, total revenue from diagnostic imaging devices in the electromedical devices market is expected to reach nearly REDACTED. Additionally, the surgical devices segment is expectedto rise at the highest CAGR (REDACTED) of all segments through 2023.
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