Global Electro-Medical Equipment Market, By Device Type (Diagnostic Imaging Devices, Patient Assistive Devices, Surgical Devices, Others), Application (Dental, Ophthalmology, Cardiovascular, Orthopedic, Others), End User (Clinics, Hospitals, Home Care Settings, Others) - Industry Trends and Forecast to 2030.
Electro-Medical Equipment Market Analysis and Size
The increase in number of research and development activities across the globe acts as one of the major factors driving the growth of electro-medical equipment market. The rise in demand for imaging in diagnosis and monitoring of major chronic diseases related to cardiology and oncology, and use of electromedical devices in heart valve replacement procedure accelerate the market growth. The wide availability of consumer-focused medical devices and services and improved convenience and care focus resulting in high volume of research and development activities further influence the market. Additionally, improved healthcare infrastructure, increase in the population, reimbursement changes, growth of awareness, and expansion of pharmaceutical sector positively affects the electro-medical equipment market. Furthermore, new product launches and increase in new product approvals for electromedical devices extend profitable opportunity to the market players.
On the other hand, high cost associated with the equipment and requirement of high technical configuration are expected to obstruct the market growth. The stringent regulations are projected to challenge the electro-medical equipment market.
Data Bridge Market Research analyses that the electro-medical equipment market which was USD 58,500.00 million in 2023, would rocket up to USD 95,174.23 million by 2030, and is expected to undergo a CAGR of 7.2% during the forecast period. This indicates that the market value. "Medication" dominates the treatment segment of the electro-medical equipment market due to increasing awareness about the electro-medical equipment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Electro-Medical Equipment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Device Type (Diagnostic Imaging Devices, Patient Assistive Devices, Surgical Devices, Others), Application (Dental, Ophthalmology, Cardiovascular, Orthopedic, Others), End User (Clinics, Hospitals, Home Care Settings, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Koninklijke Philips N.V. (Netherlands), Johnson & Johnson Services, Inc. (U.S.), Baxter (U.S.), BD (U.S.), Electro Medical, Inc (U.S.). Cardinal Health (U.S.), Heine Optotechnik (Germany), Smith+Nephew (UK), Boston Scientific Corporation (U.S.), B. Braun Melsungen AG (Germany), Zimmer Biomet (U.S.), Abbott (U.S.), and Stryker (U.S.) among others.
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Market Opportunities
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Market Definition
Electro-medical equipment’s refer to the various medical devices, and hardware components, among other products available for the healthcare industry including the usage of electricity in their operations. Electro-medical devices are widely deployed in a wide-range of applications such as surgical, and diagnostic, among other different category of a healthcare industry.
The market for electro-medical equipment includes the production, distribution, and sales of the product worldwide. It involves medical device companies that manufacture electro-medical equipment, healthcare facilities where it is administered, and various stakeholders such as physicians, patients, and regulatory authorities involved in its prescription, usage, and approval.
Electro-Medical Equipment Market Dynamics
Drivers
- Increasing Prevalence of Chronic Diseases
The increasing prevalence of chronic diseases, such as cardiovascular disorders, cancer, diabetes, and respiratory ailments, drove the demand for electro-medical equipment. These devices are essential for disease diagnosis, management, and monitoring.
- Growing Aging Population
The global rise in the aging population contributed significantly to the demand for electro-medical equipment. Elderly individuals require more medical attention and often require diagnostic tests, monitoring devices, and therapeutic equipment, which fuel the market growth.
- Increase Awareness and Focus on Early Diagnosis
Increasing awareness about the benefits of early disease diagnosis and regular health monitoring drove the demand for electro-medical equipment. Patients and healthcare providers emphasized the need for timely detection of diseases, leading to increased adoption of diagnostic equipment.
Opportunity
- Advancements in Medical Technology
Advancements in technology, such as the development of innovative medical devices and equipment, drove the demand for electro-medical equipment. New technologies, including minimally invasive surgeries, robotic-assisted surgeries, and telemedicine, increased the adoption of electro-medical equipment.
Restraint/Challenge
- Stringent Regulatory Environment
The electro-medical equipment market is subject to strict regulations, standards, and approval processes imposed by regulatory authorities, such as the FDA (Food and Drug Administration) in the United States. These regulations, while essential for patient safety, often increased the time and cost of bringing new products to market, acting as a restraint for manufacturers.
This electro-medical equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electro-medical equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In January 2023, ClariMed, Inc., announced the launch of the first MedTech services partner to take an integrated, human-centric approach to medical product development
Global Electro-Medical Equipment Market Scope
The electro-medical equipment market is segmented on the basis of device type, application and end user. The growth amongst these segments will help you meagre growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.
Device Type
- Diagnostic Imaging Devices
- Patient Assistive Devices
- Surgical Devices
- Others
Application
- Dental
- Ophthalmology
- Cardiovascular
- Orthopaedic
- Others
End User
- Clinics
- Hospitals
- Home Care Settings
- Others
Electro-Medical Equipment Market Regional Analysis/Insights
The electro-medical equipment market is analysed and market size insights and trends are provided by country, device type, application, and end user as referenced above.
The countries covered in the electro-medical equipment market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and rest of Middle East and Africa.
The North America is dominating the global electro-medical equipment market due to increasing prevalence of the chronic disease in that region.
Asia-Pacific is the fastest growing region due to increase technological advancement in the region.
The country section of the report also provides individual market impacting factors and domestic regulation changes that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The electro-medical equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Electro-medical equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the electro-medical equipment market. The data is available for historic period 2015-2020.
Competitive Landscape and Electro-Medical Equipment Market Share Analysis
The electro-medical equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the electro-medical equipment market are:
- Koninklijke Philips N.V. (Netherlands)
- Johnson & Johnson Services, Inc. (U.S.)
- Baxter (U.S.)
- BD (U.S.)
- Electro Medical, Inc (U.S.)
- Cardinal Health (U.S.)
- Heine Optotechnik (Germany)
- Smith+Nephew (U.K.)
- Boston Scientific Corporation (U.S.)
- B. Braun Melsungen AG (Germany)
- Zimmer Biomet (U.S.)
- Abbott (U.S.)
- Stryker (U.S.)
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