Global Medical Devices Market By Application: Diagnostic Devices, Therapeutic Devices, By End-Use: Hospitals, Clinics, By Region: North America, Europe, Asia Pacific, Segment Forecasts: 2024 - 2030
Global Medical Devices Market Trends
The global medical devices market was valued at USD 537.5 billion in 2024 and is expected to grow at a CAGR of 7.6% from 2025 to 2030. Growth in this market is driven by technological advancements in diagnostic and therapeutic devices, increasing prevalence of chronic diseases, and rising healthcare expenditures. The expansion of healthcare infrastructure in developing countries is also contributing to increased demand for medical devices.
Product Insights
Diagnostic devices held the largest market share in 2024, accounting for 54.3% of the total revenue. These devices include imaging systems, in-vitro diagnostics, and monitoring devices used for detecting diseases and conditions. Therapeutic devices, such as surgical instruments and drug delivery systems, are expected to exhibit strong growth due to increasing demand for minimally invasive procedures.
Regional Insights
North America leads the market with a 38.9% revenue share in 2024, driven by the presence of advanced healthcare systems and strong regulatory frameworks. The Asia Pacific region is expected to witness the highest CAGR of 9.2%, fueled by rising healthcare investments and growing medical tourism.
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