Global Medical Device & Accessories Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• January 2024 – GE Healthcare entered into an agreement to acquire MIM Software, one of the leading providers of medical imaging analysis and AI solutions. The company specializes in areas such as radiation oncology, molecular radiotherapy, diagnostic imaging, and urology in various healthcare settings.

• January 2024 – Medtronic received the U.S. FDA approval for its Percept RC Deep Stimulation System with advanced BrainSense technology for personalized treatment of patients suffering from Parkinson’s Disease, and epilepsy, among others.

The global medical device and accessories market can be segmented into various categories based on product type, application, end-user, and geography, each offering insights into distinct market dynamics and growth opportunities. By product type, the market includes diagnostic imaging devices, patient monitoring equipment, surgical instruments, therapeutic devices, and consumables. Diagnostic imaging devices, such as MRI and CT scanners, are crucial for non-invasive diagnosis and treatment planning, driving substantial market demand. Patient monitoring equipment, including vital signs monitors and continuous glucose monitors, supports real-time patient management, particularly in critical care settings. Surgical instruments and therapeutic devices, such as pacemakers and joint implants, cater to surgical interventions and chronic disease management, respectively. Consumables like syringes and bandages constitute essential components for routine medical procedures, contributing to consistent market demand.

North America holds a significant share of the global medical device market, driven by a well-established healthcare infrastructure, technological innovation, and high healthcare expenditure. Europe follows, characterized by robust regulatory frameworks and a strong focus on patient safety. The Asia Pacific region is experiencing rapid market growth, fueled by increasing healthcare investments, rising chronic disease prevalence, and expanding access to healthcare services in countries like China and India. The Middle East and Africa, along with Latin America, present emerging opportunities driven by improving healthcare infrastructure and rising healthcare spending. Overall, segmenting the market provides a comprehensive understanding of how different product categories and regional factors influence the growth and development of the global medical device and accessories market.

Global Medical Device & Accessories Market Analysis

The Global Medical Device & Accessories Market has been segmented by Device, End user and Geography.

Global Medical Device & Accessories Market, Segmentation by Device

The Global Medical Device & Accessories Market has been segmented by Device into Cardiovascular Application, Coronary Pressure Monitors, Catheters , Therapeutic Medical Guide, Dental Implant, Cochlear Implant , Nerve Stimulator, Diabetes Monitors and Suture Needles .

The global medical device and accessories market spans a diverse range of devices crucial for various healthcare applications. Cardiovascular devices, including pacemakers, stents, and defibrillators, play a pivotal role in managing heart conditions and improving patient outcomes. Coronary pressure monitors and catheters are specialized tools used in cardiac catheterization procedures to assess blood flow and diagnose coronary artery disease. These devices aid in precise treatment planning and monitoring during cardiovascular interventions, contributing to enhanced patient care and surgical precision.

Therapeutic medical devices, such as medical guides for surgical navigation and dental implants for restoring oral function, cater to specific therapeutic needs across different medical specialties. Cochlear implants and nerve stimulators represent advanced technologies in neurology and otolaryngology, offering solutions for hearing loss and neurological disorders. Diabetes monitors, including continuous glucose monitors and insulin pumps, are essential for managing blood glucose levels and improving diabetes management. Suture needles and other consumables remain fundamental in surgical procedures for wound closure and patient recovery. As technological advancements continue to drive innovation in these device categories, the global medical device and accessories market is poised for growth, driven by increasing healthcare demands and the pursuit of better patient outcomes worldwide.

Global Medical Device & Accessories Market, Segmentation by End user

The Global Medical Device & Accessories Market has been segmented by End-User into Hospitals & ASCs, Clinics and Others

The global medical device and accessories market, segmented by end-users, encompasses hospitals & ambulatory surgical centers (ASCs), clinics, and other healthcare facilities. Hospitals and ASCs represent the largest segment, driven by the high volume of patient admissions and the wide array of medical procedures conducted in these settings. These facilities require a diverse range of medical devices and accessories for diagnostics, treatment, and patient monitoring across various specialties, including cardiology, orthopedics, and neurology. The demand for advanced medical technologies, such as imaging systems, surgical instruments, and patient monitoring devices, is particularly pronounced in hospitals and ASCs where patient care and safety are paramount.

Clinics, including outpatient clinics and specialty clinics, are also significant end-users in the medical device market. These facilities cater to a broad spectrum of medical needs, offering specialized care and treatment to patients in more localized settings. The adoption of medical devices in clinics ranges from basic diagnostic tools to more advanced therapeutic and surgical equipment, depending on the clinic's specialty and patient demographics. Additionally, other healthcare facilities such as nursing homes, ambulatory care centers, and diagnostic laboratories contribute to the market's growth by utilizing medical devices for patient care and diagnostic purposes. As healthcare delivery models evolve and demand for outpatient services rises, the global medical device and accessories market continues to expand, driven by the diverse needs of different end-users across the healthcare continuum.

Global Medical Device & Accessories Market, Segmentation by Geography

The Global Medical Device & Accessories Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Medical Device & Accessories Market Share (%), by Geographical Region, 2024

The global medical device and accessories market exhibits varying dynamics across five key regions: North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. North America leads the market due to its advanced healthcare infrastructure, high healthcare expenditure, and strong emphasis on technological innovation. The region hosts a significant number of medical device manufacturers and research institutions, driving continuous advancements in medical technology. Regulatory frameworks such as the FDA in the United States also play a crucial role in shaping the market landscape by ensuring product safety and efficacy.

Europe follows closely, characterized by stringent regulatory standards and robust healthcare systems in countries like Germany, France, and the UK. The region boasts a mature market for medical devices, with substantial investments in healthcare research and development. In contrast, the Asia Pacific region is experiencing rapid market growth driven by increasing healthcare spending, rising prevalence of chronic diseases, and expanding access to healthcare services in populous countries such as China, India, and Japan. MEA and Latin America present emerging opportunities fueled by improving healthcare infrastructure, rising healthcare investments, and growing awareness about healthcare access and quality. These regions are witnessing increased adoption of medical devices to address healthcare challenges and enhance patient care, contributing to the global market's overall expansion.

This report provides an in depth analysis of various factors that impact the dynamics of Global Medical Device & Accessories Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Key players in Global Medical Device & Accessories Market include:

• Johnson & Johnson Services, Inc.
• Stryker Corporation
• General Electric Company
• Siemens AG
• Medtronic
• Danaher Corporation
• Boston Scientific Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis