Medical equipment is generally a very important part of treatment and medical procedures. Hospitals, medical institutes, and surgery centers are the basic users of medical equipment and they are more aware of medical equipment. Healthcare systems over the world have adopted advanced and multifunction equipment in their practices. Every severe medical condition can be treated with the help of medical equipment.
MARKET SCOPE
The "Global Medical Equipment Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical equipment market with detailed market segmentation by drug class and distribution channel. The report provides key statistics on the market status of the leading medical equipment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on distribution channel the market is segmented as, hospital and ASC, Clinics, and Others.
- Based on type the market is segmented as, orthopedic device, cardiovascular device, diagnostic imaging, in-vitro diagnostics, wound management, minimally invasive surgery, diabetes care, opthalmic device, dental device, nephrology, and others.
MARKET DYNAMICS
Drivers:
- Rising prevalence of chronic diseases including diabetes, cancer, and other infectious diseases.
- Increasing burden of medical procedures on the healthcare systems.
- Rise in frequency of medical treatment and surgeries.
- Extensive R&D efforts by medical equipment companies to develop novel equipment is expected to fuel the market growth.
Restraints:
- Rising costs of Medical Equipment.
- Whereas, high cost of treatment for chronic diseases is expected to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. The medical equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South and Central America after evaluating political, economic, social and technological factors affecting the medical equipment market in these regions.
IMPACT OF COVID-19 ON MEDICAL EQUIPMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the medical equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for medical equipment in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical equipment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABBOTT LABORATORIES
- ARKRAY INCORPORATED
- B BRAUN MELSUNGEN AG
- BAXTER INTERNATIONAL INCORPORATED
- BECTON
- CAREFUSION CORPORATION
- DICKINSON AND COMPANY
- GENERAL ELECTRIC COMPANY
- HILL-ROM HOLDINGS INCORPORATED
- JOHNSON AND JOHNSON
- MEDTRONIC PLC
- SMITH AND NEPHEW