Shift to Service Contracts To Grow In The Medical Equipment

The Business Research Company’s medical equipment global market opportunities and strategies to 2022, covers the year-on-year growth of the global medical equipment market historic and forecast growth. It also includes chapters on the medical equipment market trends, geographical analysis, and competitive landscape.

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The global medical equipment market is forecast to grow at a CAGR (compound annual growth rate) of around 4.6 % to 2022.

Medical Equipment Market Trends

The medical equipment market in this report is segmented into in-vitro diagnostics, cardiovascular devices, diagnostic equipment, orthopedic devices, hospital supplies, ophthalmic devices, nephrology and urology devices, patient monitoring devices, dental equipment and supplies, wound care devices, diabetes care devices, surgical equipment, ENT devices, anesthesia and respiratory devices and neurology devices.

Customers are expecting strong service agreements and long-term maintenance contracts from medical device manufacturers. Hospital administrators are exerting greater influence and increasingly focusing purchase decisions around clinical and economic value. Therefore, medical device companies are adopting sales approaches such as outcome-based contracts and bundled purchasing models.

The global medical equipment market is primarily driven by aging populations, emerging markets growth and low interest rate environment.

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The global medical equipment market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.

With falling oil prices, economic growth, changes in lifestyles and technology, the global medical equipment market is expected to increase in potential and scope. TBRC’s report also covers the medical equipment drivers and restraints in the market.

The global medical equipment market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.

The top companies included in the global medical equipment market report are Medtronic PLC, Johnson & Johnson Inc., Philips Healthcare, Baxter International Inc. Becton, Dickinson and Company.

Medical Equipment Market Segmentation

The global medical equipment market is further segmented based on type and geography.

By Type - The medical equipment market is segmented into in-vitro diagnostics, cardiovascular devices, diagnostic equipment, orthopaedic devices, hospital supplies, ophthalmic devices, nephrology and urology devices, patient monitoring devices, dental equipment and supplies, wound care devices, diabetes care devices, surgical equipment, ENT devices, anaesthesia and respiratory devices and neurology devices. Among these segments, the in-vitro diagnostics market accounts for the largest share in the global medical equipment market.

By Geography - The global medical equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific medical equipment market accounts for the largest share in the global medical equipment market.

Trends In The Medical Equipment Market

Increase in self-diagnosis/treatment, integration of technology and analytics in patient care and shift to service contracts are the major trends witnessed in the medical equipment market.Potential Opportunities In The Medical Equipment MarketWith increase in disease burden, growing geriatric population and rising disposable income, the scope and potential for the global medical equipment market is expected to significantly rise in the forecast period.

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