Medical Devices - Europe

  • Europe
  • Revenue in the Medical Devices market in Europe is projected to reach US$143.20bn in 2024.
  • The market's largest market is Cardiology Devices with a projected market volume of US$20.56bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.52%, resulting in a market volume of US$170.90bn by 2028.
  • In global comparison, most revenue will be generated in the United States (US$182.00bn in 2024).

Key regions: United Kingdom, France, China, Germany, United States

 
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Analyst Opinion

The Medical Devices industry has grown steadily in recent years. Demand for innovative products leads to increased investment in R&D and the development of medical technologies. However, complex regulatory processes, reimbursement restrictions, and the costly process of developing advanced technologies are increasing the challenges for this industry. All the markets of Medical Devices have been affected negatively by the COVID-19 pandemic, mainly due to fewer new patients, barriers to healthcare access, and postponed treatments.

Cardiology Devices holds the top position among all markets in Medical Technologies, followed by Diagnostic Imaging Devices. Overall in Medical Devices and in each market, revenues are highest in the US.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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