The Business Research Company’s Medical Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 21, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Device performance and patient data being readily available to healthcare service providers helps them to improve patient monitoring and overall care quality. Among medical devices industry trends, some companies are integrating medical device data with EMR (Electronic Medical Records) to improve transparency and collaboration. As consumer wearables are becoming more common, patient data volumes are increasing and companies are investing in deploying data management, warehousing and security technologies. For example, Medtronic launched a tool to supplement their cardiac devices to securely transfer device data to doctors and allow them to monitor the critical health indicators of their patients.
The global medical equipment market is expected to grow from $456.76 billion in 2020 to $510.7 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The medical device manufacturers market is expected to reach $662.28 billion in 2025 at a CAGR of 7%.
The global medical device market is segmented by type into in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices, wound care devices, by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, others, and by nature into organic and conventional.
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