Top 10 medical device technologies market estimated to reach USD 428.97 billion by 2020
As per a report by Markets and Markets, the global top 10 medical device technologies market will lead the market to reach USD 428.97 billion by 2020 with a CAGR of 5.5% over 2015-2020. Major driver of growth are chronic lifestyle ailments like cardiovascular, diabetes, hypertension, cancer, and respiratory problems. IVD devices captured the largest market share of 17.1% in 2014 and are likely to grow at a CAGR of 5.8% over the forecasted period. The anesthesia and respiratory care devices segment is estimated to report the fastest growth. North America dominated the market in 2014 with the largest share of 39.7% followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific is likely to register the fastest growth in the forecasted period. Major global players of the industry are Johnson & Johnson, GE Healthcare, Siemens Healthcare, Medtronic, Philips Healthcare, Roche Diagnostics, Abbott Laboratories, Smith & Nephew, Stryker Corporation and Boston Scientific.