Latest Report, titled " Medical Devices Market " Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031, by Kings Research offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Medical Devices Market was valued at USD 461.86 billion in 2023, and is expected to reach USD 481.05 billion in 2024 and USD 688.29 billion by 2031, increasing at a CAGR of 5.25% from 2024 to 2031.

𝐆𝐞𝐭 𝐏𝐫𝐢𝐦𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.kingsresearch.com/medical-devices-market-788

The North America Medical Devices Market share stood around 35.07% in 2023 in the global market, with a valuation of USD 161.97 billion. This dominance is fostered by the region's advanced healthcare infrastructure and high levels of healthcare expenditure, thus facilitating widespread adoption of medical devices and technologies.

Key Industry Developments:

April 2024 (Launch): CERENOVUS, Inc., a division of Johnson & Johnson MedTech, Inc., introduced the CEREGLIDE 71 Aspiration Catheter in Europe. This advanced catheter, which features TruCourse technology, is designed to aid in the revascularization of patients with acute ischemic stroke. Positioned within the CERENOVUS Stroke Solutions portfolio, the CEREGLIDE 71 has been optimized for efficient blood clot aspiration and is compatible with various stent retrievers. This launch marked a significant addition to the company's line of catheters for stroke treatment.

List of Key Companies in Medical Devices Market:

  • Abbott
  • BD
  • Cardinal Health
  • GE HealthCare. GE 
  • Johnson & Johnson Private Limited
  • Koninklijke Philips N.V
  • Medtronic
  • Siemens Industry Software
  • Smith & Nephew Plc.
  • Stryker 

Competitive Landscapes:

The medical devices industry study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Manufacturers are adopting a range of strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, to strengthen their market standing.

Key Developments:

Recent strategic developments in the market include:

Nelson Labs' ASCA Accreditation: Achieved biocompatibility testing accreditation by the FDA in April 2023.

Partnerships and Acquisitions: Nemera and Nelson Labs Europe announced a partnership to offer integrated testing services. Pace Analytical Services acquired Alpha Analytical to enhance its environmental testing capabilities.

Innovative Product Launches: B. Braun's acquisition of Starboard Medical, Inc., and the launch of the Clik-FIX catheter fixation device.

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