Global Medtech Outlook, 2024

HealthcareGlobal Medtech Outlook, 2024

New Product Development and Approvals Drive Industry Growth Opportunities

RELEASE DATE
09-Apr-2024
REGION
North America
Deliverable Type
Market Research
Research Code: K9E7-01-00-00-00
SKU: HC_2024_656
AvailableYesPDF Download
$4,950.00
In stock
SKU
HC_2024_656

Global Medtech Outlook, 2024
Published on: 09-Apr-2024 | SKU: HC_2024_656

Need more details?
$4,950.00
DownloadLink
Need more details?

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

List of 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
Purchase includes:
  • Report download
  • Growth Dialog™ with our experts

Growth Dialog™

A tailored session with you where we identify the:
  • Strategic Imperatives
  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

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
More Information
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