Latest News- Medical Technologies Market: Medical devices is expected to lead the Application segment during 2025-2029

The Medical Technologies Market is being driven by Increasing prevalence of diseases

The Medical Technologies Market is expected to grow at a CAGR of 8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 346.4 billion. The medical technologies market is experiencing significant growth due to the increasing adoption of Internet of Things (IoT) technology in the healthcare industry. IoT infrastructure facilitates the seamless integration of physical and digital data sources, enabling real-time patient monitoring and improving accessibility to healthcare services. This innovation reduces operational burdens on healthcare facilities, enhances digital ecosystems within organizations, and supports the provision of timely and enhanced care. The healthcare sector's shift towards connected hospital infrastructure holds immense potential for IoT applications, both within and beyond facility boundaries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Medical devices
  • In-vitro diagnostics
• End-user
  • Hospitals
  • Clinics
  • Others
• Component
  • Hardware
  • Services
  • Software
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of diseases
• Rising number of product launches in IVD
• Growing adoption of data analytics in healthcare sector

However, the market also witnesses some limitations, which are as follows:

• Declining reimbursement and cost containment measures
• High cost of implementation of digital health solutions
• Stringent regulatory bodies guiding in-vitro diagnostics manufacturers

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Market Scope in Medical Technologies Market Research Report

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Research Analysis Overview

The Medical Technologies Market encompasses various sectors including Tissue Engineering, Stem Cell Therapy, Gene Therapy, Personalized Medicine, Digital Therapeutics, Medical Simulation, Medical Education, Healthcare Consulting, Medical Tourism, Medical Staffing, Home Healthcare, Long-Term Care, Mental Health, Behavioral Health, Addiction Treatment, Physical Therapy, Occupational Therapy, Speech Therapy, Pain Management, Emergency Medicine, Intensive Care, Critical Care, ICU Equipment, Surgical Robots, Medical Imaging Analysis, Drug Discovery, Clinical Pharmacology, Public Health Surveillance, Healthcare Economics, and Health Policy. These technologies aim to improve patient care, enhance diagnostic accuracy, and optimize healthcare delivery through advanced solutions in tissue engineering, gene therapy, digital therapeutics, and more.

Market Research Overview

The Medical Technologies Market, as per Technavio, is a significant segment of the global Healthcare Equipment Market. This market encompasses the production and sales of medical devices such as diagnostic imaging equipment, surgical instruments, therapeutic devices, and implantable devices. The parent Healthcare Equipment Market covers a vast array of product categories and companies involved in research and development (R&D), including capital equipment, instruments, implants, accessories, and consumables. These products are utilized for the diagnosis, monitoring, and treatment of various diseases. Technavio determines the size of the global Healthcare Equipment Market by aggregating the revenues generated by manufacturers of diagnostic equipment and devices spanning diverse therapy areas.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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