Global Medical Equipment Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type of Expenditure;

Public, and Private.

By Product;

Instruments/Equipment, and Disposables.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn628738439 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Medical Equipment Market (USD Million), 2021 - 2031

In the year 2024, the Global Medical Equipment Market was valued at USD 608,649.81 million. The size of this market is expected to increase to USD 897,206.49 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.7%.

The global medical equipment market is a dynamic sector driven by innovation and technological advancements aimed at improving healthcare outcomes worldwide. From diagnostic tools to therapeutic devices, medical equipment plays a crucial role in the diagnosis, treatment, and management of various medical conditions. With the growing prevalence of chronic diseases and an aging population, there is an increasing demand for advanced medical equipment that can deliver accurate diagnoses and personalized treatment plans.

The medical equipment market has witnessed significant growth, fueled by factors such as rising healthcare expenditure, increasing awareness about preventive healthcare, and advancements in medical technology. Manufacturers are continually striving to develop innovative solutions that enhance patient care while improving operational efficiency for healthcare providers. This relentless pursuit of excellence has led to the introduction of cutting-edge medical devices and equipment that cater to diverse medical needs across different specialties and settings.

The importance of robust healthcare infrastructure and the need for rapid diagnostic tools and therapeutic interventions. The medical equipment market has responded swiftly to the challenges posed by the pandemic, with manufacturers ramping up production of critical care equipment such as ventilators, respiratory monitors, and personal protective equipment (PPE). As the world grapples with the aftermath of the pandemic and focuses on building resilient healthcare systems, the demand for advanced medical equipment is expected to remain strong, driving further innovation and growth in the global market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type of Expenditure
    2. Market Snapshot, By Product
    3. Market Snapshot, By Region
  4. Global Medical Equipment Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological Advancements
        2. Aging Population
        3. Increasing Healthcare Expenditure
      2. Restraints
        1. Stringent Regulatory Requirements
        2. High Cost of Equipment
        3. Limited Access in Developing Regions
      3. Opportunities
        1. Emerging Markets
        2. Telemedicine Adoption
        3. Demand for Home Healthcare Devices

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Compititive Rivalry
  5. Market Segmentation
    1. Global Medical Equipment Market, By Type of Expenditure, 2021 - 2031 (USD Million)
      1. Public
      2. Private
    2. Global Medical Equipment Market, By Product, 2021 - 2031 (USD Million)
      1. Instruments/Equipment
      2. Disposables
    3. Global Medical Equipment Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Medtronic Plc
      2. Johnson & Johnson
      3. Abbott Laboratories
      4. Becton
      5. Siemens Healthineers AG.
  7. Analyst Views
  8. Future Outlook of the Market