The global medical equipment market size was US$ 470.1 billion in 2021. The global medical equipment market is forecast to grow to US$ 712.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2022 to 2030.

Medical equipment encompasses a wide range of instruments, machines, appliances, or other similar devices, aiming to assist healthcare providers in diagnosing and treating patients.

Factors Influencing the Market

The global medical equipment market is forecast to gain traction, owing to the increasing geriatric population and growing cases of chronic diseases like cancer, diabetes, etc. In addition, the growing cases demanding for complex surgeries and surgical procedures are forecast to surge the growth of the global medical equipment market.

The rising awareness related to home-based diagnosis and treatment is forecast to benefit the global medical equipment market in the coming years. In addition, the increasing number of advancements in the field of portable medical equipment, like insulin devices, glucose meters, and nebulizers, is forecast to boost the medical equipment market over the forecast period.

The growing demand for the efficient diagnosis, treatment, remote monitoring is forecast to offer ample growth opportunities. Further, favorable initiatives from authorities to enhance healthcare infrastructure will significantly contribute to the growth of the global medical equipment market.

COVID-19 Impact Analysis

The emergence of the COVID-19 pandemic has boosted demand for medical devices, such as diagnostic kits and ventilators. In addition, various healthcare bodies witnessed subsequent shortfall of this equipment due to manufacturing disruptions. Moreover, the long-term impact of the COVID-19 pandemic is forecast to have a positive impact on the global medical equipment market. Furthermore, the demand for innovative technical solutions is also increasing due to the wake of the pandemic. All of these factors will benefit the global medical equipment industry.

Regional Analysis

North America is forecast to hold the largest share in the global medical equipment market, owing to the well-developed healthcare infrastructure and favorable government initiatives. In addition, the rising adoption of the latest medical technologies is forecast to surge the market growth. The growth of the market is also attributed to the increasing demand for technology in the healthcare segment and the growing geriatric population.

Competitors in the Market

Stryker
Ethicon LLC
BD
Cardinal Health
Baxter International LLC
Siemens Healthineers
Abbott Laboratories
Johnson & Johnson
Becton, Dickinson, and Company
3M Company
Danaher Corporation
Agappe Diagnostics Ltd.
Medtronic
DePuy Synthes
Fresenius Medical Care
Other Prominent Players
Market Segmentation

The global medical equipment market segmentation focuses on Type, End-User, and Region.

Based on the type, the medical equipment market has been segmented into

Ophthalmic Devices
Diagnostic Imaging
Wound Management
Dental & Nephrology
Orthopedic Devices
MIS, Diabetes Care
IVD
Ventilators
Cardiovascular Devices
Others (Ent devices and neurology devices, etc.)
Based on the end-user, the medical equipment market has been segmented into

Clinics & Homes
Hospitals & Ambulatory Surgical Centers
Based on region, the medical equipment market has been segmented into

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America