US medical device technology market is projected to grow at a significant CAGR of around 2.8% during the forecast period. The medical device technology is growing at a rapid rate in the US, backed by the rising prevalence of chronic diseases, such as CVD, respiratory, and other diseases. Realizing this factor, the global key market players are continuously expanding their reach across the country and the globe. Thermo Fisher Scientific Inc., General Electric Co., Abbott Laboratories, Johnson & Johnson Services Inc. is headquartered in the US and covers almost one-third of the revenue generated by the medical device technology market across the globe.
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These market players generate a majority of their revenue from the US, owing to the high spending of government on the deployment of advanced medical facilities in hospitals, research institutes, and diagnostic centers. Moreover, the market players are continuously developing advanced medical device technologies, inbuilt with sensors and automation, which is expected to further gain a huge market value in the US during the forecast period. This growth is further backed by the rising chronic diseases in the country, which in turn, will augment the demand for medical device technology during the forecast period.
Market Coverage
- Market number available for- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Product Type
- Key Companies Profiled- Thermo Fisher Scientific Inc., General Electric Co., Abbott Laboratories, Johnson & Johnson Services Inc., and Koninklijke Philips N.V.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment dominates the market in base year?
- Which segment will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from pre-COVID
- Most affected segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Medical Device Technology Market – Segmentation
By Product Type
- In Vitro Diagnostics Devices
- Diagnostic Imaging Devices
- Cardiology Devices
- Ophthalmology Devices
- Orthopedic Devices
- Others (Endoscopy Devices and Respiratory Care Devices)
A full report of US Medical Device Technology Market is available at: https://www.omrglobal.com/industry-reports/us-medical-device-technology-market
