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Industry Developments
Recent developments in the US Medical Devices Market have shown significant activity, particularly in the realm of mergers and acquisitions among key players. In September 2023, Baxter International announced its intent to acquire Hillrom, aiming to enhance its portfolio in connected care and patient monitoring solutions. Medtronic has continued to innovate, recently unveiling new advancements in its diabetes management technologies, while Stryker Corporation has reported a vigorous expansion strategy focusing on orthopedic devices. Additionally, in August 2023, Johnson Johnson completed its acquisition of Abiomed, enriching its cardiovascular segment. Boston Scientific has been actively increasing its footprint in the electrophysiology market through strategic partnerships. The market dynamics have also witnessed Cardinal Health launching new tools to streamline the supply chain for medical devices in response to increasing demand. Siemens Healthineers and Thermo Fisher Scientific are increasing their investment in imaging technologies and diagnostic tools as the healthcare landscape evolves. Overall, the market is experiencing growth due to technological advancements and an increasing emphasis on patient-centered solutions, showcasing a robust trajectory reflective of industry resilience and innovation over the past few years.
US Medical Devices Market Report Scope
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 149.65(USD Billion) |
| MARKET SIZE 2024 | 160.1(USD Billion) |
| MARKET SIZE 2035 | 338.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.03% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Baxter International, Medtronic, Stryker Corporation, Johnson and Johnson, Boston Scientific, Cardinal Health, Siemens Healthineers, Thermo Fisher Scientific, Philips Healthcare, 3M, Hologic, Zimmer Biomet, Becton Dickinson, GE Healthcare, Abbott Laboratories |
| SEGMENTS COVERED | Device Type Outlook, Application Outlook, End User Outlook |
| KEY MARKET OPPORTUNITIES | Aging population demand, Telehealth technology integration, Wearable health monitoring, Personalized medicine advancements, Minimally invasive procedures growth |
| KEY MARKET DYNAMICS | Aging population, Technological advancements, Regulatory scrutiny, Increased healthcare spending, Rising chronic diseases |
| COUNTRIES COVERED | US |
FAQs
What is the projected market value of the US Medical Devices Market in 2024?
The US Medical Devices Market is expected to be valued at 160.1 USD Billion in 2024.
How much is the US Medical Devices Market expected to grow by 2035?
By 2035, the market is projected to reach a value of 338.0 USD Billion.
What is the expected CAGR for the US Medical Devices Market from 2025 to 2035?
The expected CAGR for the US Medical Devices Market from 2025 to 2035 is 7.03%.
Which medical device segment is expected to generate the highest revenue by 2035?
The Diagnostic Devices segment is anticipated to generate a revenue of 98.4 USD Billion by 2035.
What was the market value of Drug Delivery Systems in 2024?
The Drug Delivery Systems segment is valued at 30.5 USD Billion in 2024.
Which companies are major players in the US Medical Devices Market?
Major players include Baxter International, Medtronic, Stryker Corporation, Johnson and Johnson, and Boston Scientific.
What is the projected market value of Invasive Devices in 2035?
The market value for Invasive Devices is expected to be 82.0 USD Billion in 2035.
What is the market size for Respiratory Therapeutic Devices in 2024?
In 2024, the market size for Respiratory Therapeutic Devices is valued at 20.3 USD Billion.
What are the growth drivers for the US Medical Devices Market?
Key growth drivers include technological advancements and an increasing aging population.
What is the market value for Electronic Medical Devices by 2035?
By 2035, the market for Electronic Medical Devices is expected to reach 48.0 USD Billion.
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