Global Medtech Outlook, 2024
New Product Development and Approvals Drive Industry Growth Opportunities
09-Apr-2024
North America
Market Research
The Global MedTech Outlook, 2024 presents a comprehensive analysis of the global MedTech industry in terms of growth potential and important market dynamics. The analysis covers major MedTech segments such as cardiovascular, orthopedics, patient monitoring, respiratory devices, neurology, diabetes care, and clinical-grade wearables. It highlights key MedTech predictions for 2024 and growth opportunities over the forecast period to 2028. 2024 is forecast to be a robust revenue growth year for MedTech companies. Strong product innovation, new product approvals, and technology-driven disease diagnosis are expected to drive MedTech industry growth in North America and Europe for the forecast period. The MedTech industry in APAC and the Middle East also displays robust growth potential from increased healthcare spending, higher income levels and personal purchasing power, and adoption of advanced technologies. Minimally invasive surgery techniques see increased uptake, with the gradual shift of some procedures to day care centers, spurring the adoption of related medical device categories, including consumables. Calculations for regional markets such as Latin America, the Middle East, and Africa have been done on a best-effort basis, considering the limitations of obtaining detailed segment-wise data breakdowns. At-home care will likely remain a crucial driver in 2024 and beyond, with home care products and solutions expected to gain significant adoption and demand. The methodology considers leading public companies’ historical performance and revenue guidance to arrive at the sales forecast. The estimates include revenue realized from traditional products, digital offerings, and solutions sold as a package, as reported by companies in their annual reports.
Author: Vittal Bhaskar Rao

Analysis Highlights
MedTech Top Predictions for 2024
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the MedTech Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Market Segmentation
Global MedTech Industry Dashboard
Global MedTech Market Share by Region—2023 and 2028
Growth Environment
Top 10 Trends for 2024
Top 10 Growth Opportunities
Global GDP Growth—Mild Global Growth Slowdown from 3.0% in 2023 to 2.6% in 2024 as Key Economies Lose Growth Momentum
Inflation and Interest Rates—Headline Inflation will Continue to Decline; H2 2024 will Shift Toward Rate Cuts for Advanced Economies
Currency Trajectory—Dollar to Remain Strong in H1 2024; Emerging Market Currencies to Get a Boost from Q3 2024
Labor Market—Moderate Unemployment Uptick; Positive Expectations Over Market Sentiment to Support Labor Hoarding
OIL Markets—Q1 OPEC+ Oil Production Cuts; Non-OPEC Production to Rise
Critical Minerals Supplies—Need for Economic Resiliency will Bolster Cross-border and Cross-industry Partnerships
North America—Economic Slowdown AMID Discretionary Spending Pullback and Elevated Interest Rates
Western Europe—Moderate Growth Pick-up as Inflation Headwinds Ease Gradually; Rebuilding Fiscal Buffers to Take Precedence
Middle East—Non-oil Growth Driven by Economic Diversification to Limit the Pullback Caused by a Slowdown in Global Oil Markets
ASIA—Emerging Economies to Drive Growth Momentum; Fiscal Measures to Support Chinese Economic Recovery
Forecast Methodology and Assumptions
Revenue Forecast by Segment
Revenue Forecast Analysis by Segment
Revenue Forecast Analysis by Segment (continued)
Revenue Forecast Analysis by Segment (continued)
Revenue Forecast Analysis by Segment (continued)
Revenue Forecast by Region—Key Demand Drivers
Prediction 1—MedTech Companies to Sustain R&D Investments in Product Innovation
Prediction 2—Spin-off MedTech Divisions will be Key for Large Conglomerates to Realize Shareholder Value
Prediction 3—Precision Surgery will be an Ongoing Trend with the Advancement of AI
Cardiovascular—2024 Industry Snapshot
Cardiovascular—Companies to Watch
Orthopedics—2024 Industry Snapshot
Orthopedics—Companies to Watch
Clinical-grade Wearables—2024 Industry Snapshot
Clinical-grade Wearables—Companies to Watch
Patient Monitoring Devices—2024 Industry Snapshot
Patient Monitoring Devices—Companies to Watch
Respiratory Devices—2024 Industry Snapshot
Respiratory Devices—Companies to Watch
Diabetes Care Devices—2024 Industry Snapshot
Diabetes Care Devices—Companies to Watch
Neurology Devices—2024 Industry Snapshot
Neurology Devices—Companies to Watch
Growth Opportunity 1—Non-surgical Robots
Growth Opportunity 1—Non-surgical Robots (continued)
Growth Opportunity 2—Growing Appetite for High-end Medical Equipment in APAC and the Middle East
Growth Opportunity 2—Growing Appetite for High-end Medical Equipment in APAC and the Middle East (continued)
Growth Opportunity 3—Real-time Continuous Monitoring
Growth Opportunity 3—Real-time Continuous Monitoring (continued)
Growth Opportunity 4—Data Monetization
Growth Opportunity 4—Data Monetization (continued)
Conclusions and Future Outlook
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer

- MedTech: Revenue Forecast, Global, 2021–2028
- MedTech: Regional Market Share, Global, 2023
- MedTech: Regional Market Share, Global, 2028
- MedTech: Revenue Forecast by Segment, Global, 2023 and 2024
- Orthopedics: Revenue Forecast, Global, 2021–2028
- Patient Monitoring Devices: Revenue Forecast, Global, 2021–2028
- Cardiovascular: Revenue Forecast, Global, 2021–2028
- Minimally Invasive Surgeries: Revenue Forecast, Global, 2021–2028
- Wound Care: Revenue Forecast, Global, 2021–2028
- Ophthalmology: Revenue Forecast, Global, 2021–2028
- Audiology: Revenue Forecast, Global, 2021–2028
- Respiratory Devices: Revenue Forecast, Global, 2021–2028
- Clinical-grade Wearables: Forecast, Global, 2021–2028
- Diabetes Care Devices: Revenue Forecast, Global, 2021–2028
- Neurology: Revenue Forecast, Global, 2021–2028
- Robotics: Revenue Forecast, Global, 2021–2028
- Others: Revenue Forecast, Global, 2021–2028
- MedTech: Revenue Forecast by Region, 2024
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Deliverable Type | Market Research |
---|---|
Author | Vittal Bhaskar Rao |
Industries | Healthcare |
No Index | No |
Is Prebook | No |
Keyword 1 | Medical Technology Market Trends |
Keyword 2 | Medtech Market |
Keyword 3 | Medtech Industry |
List of Charts and Figures | MedTech: Revenue Forecast, Global, 2021–2028~ MedTech: Regional Market Share, Global, 2023~ MedTech: Regional Market Share, Global, 2028~ MedTech: Revenue Forecast by Segment, Global, 2023 and 2024~ Orthopedics: Revenue Forecast, Global, 2021–2028~ Patient Monitoring Devices: Revenue Forecast, Global, 2021–2028~ Cardiovascular: Revenue Forecast, Global, 2021–2028~ Minimally Invasive Surgeries: Revenue Forecast, Global, 2021–2028~ Wound Care: Revenue Forecast, Global, 2021–2028~ Ophthalmology: Revenue Forecast, Global, 2021–2028~ Audiology: Revenue Forecast, Global, 2021–2028~ Respiratory Devices: Revenue Forecast, Global, 2021–2028~ Clinical-grade Wearables: Forecast, Global, 2021–2028~ Diabetes Care Devices: Revenue Forecast, Global, 2021–2028~ Neurology: Revenue Forecast, Global, 2021–2028~ Robotics: Revenue Forecast, Global, 2021–2028~ Others: Revenue Forecast, Global, 2021–2028~ MedTech: Revenue Forecast by Region, 2024~ |
Podcast | No |
WIP Number | K9E7-01-00-00-00 |