MedTech Industry to Hit USD 694.7 Billion by 2025 with ~4% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Jan. 20, 2025 /PRNewswire/ -- Despite the economic uncertainties and post-COVID slump in recent times, MedTech companies have demonstrated strong resilience throughout 2024. The global MedTech industry market size is estimated to grow from USD 668.2 billion in 2024 to USD 694.7 billion by 2025, at a Y-o-Y increase of ~4%. Continued tech innovation, mergers, and acquisitions (M&A), commercialization of new product lines, and emergence of new business models are contributing to the sustained growth of the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=64921163
Browse in-depth TOC on "MedTech Market"
15 - Tables
10 - Figures
45 - Pages
The Global MedTech Industry Outlook for 2025 aims to provide insights into the anticipated performance of the MedTech sectors, covering recent advancements in imaging technologies and the development of innovative surgical solutions. The report will assess the industry's performance in 2024 relative to 2023 and highlight the significant breakthroughs and notable transformations in the MedTech landscape during 2024, with expectations of continued momentum into 2025.
Some of the key developments witnessed by the MedTech industry in 2024:
- Zimmer Biomet Holdings, Inc., in April 2024 announced the completion of the first-ever robotic-assisted shoulder replacement surgery using its ROSA Shoulder System. The device received US FDA 510(k) clearance in February of 2024 and is designed to give surgeons the flexibility to execute a total shoulder replacement using anatomic or reverse techniques and to enable precise placement.
- In February 2024, Edwards Lifesciences Corporation announced that its EVOQUE tricuspid valve replacement system has become the first transcatheter therapy to receive FDA approval for treating severe tricuspid regurgitation (TR).
- Surge in AI innovations: The integration of AI technology into the MedTech industry emerged as one of the key developments in recent years. It demonstrated the potential to deliver value across the care continuum by enhancing operational efficiency, increasing diagnostic accuracy, accelerating treatment processes, and enabling advancements such as remote health monitoring.
- Moreover, several emerging players in the MedTech industry have been driving a surge in AI innovations, marking a transformative shift in healthcare technology. This wave of progress has been further bolstered by substantial investments and funding, which have increasingly aligned with this trend.
- For instance, in September 2024, Flinn.ai secures USD 10 million funding to expand AI product portfolio for MedTech sector. This synergy between innovation, funding and investment underscores the pivotal role AI plays in the evolution of the MedTech landscape.
Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=64921163
The prominent MedTech players include Abbott (US), Becton Dickinson (US), Boston Scientific Corporation (US), Cardinal Health (US), Fresenius Medical Care (Germany), Fujifilm Corporation (Japan), GE Healthcare (US), Johnson & Johnson Services, Inc. (Japan), Medtronic (Ireland), Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Siemens Healthineers AG (Germany), and Stryker (US), among others.
In 2024, industry leaders strived to maintain their competitive leadership positions with product launches, technological advancements, regulatory approvals, and strategic deals. In 2025, key players will continue investments in research and development (R&D), product differentiation in imaging and surgical applications, greater portability of medical devices, and focus on AI-based unique offerings.
MedTech Surge Ahead: Innovation and Global Expansion Drive Growth in 2025.
Heading into 2025, the MedTech sector is expected to experience strong growth, driven by innovation, favorable demographic trends, and a business-friendly policy environment under the Trump administration. Significant opportunities across various segments of the sector, ranging from established large-cap companies to emerging mid-cap innovators have been identified serving as a "catalyst-rich" year for MedTech. For instance, Intuitive Surgical Inc. (US) and Boston Scientific Corp. (US) poised to deliver exceptional results. Intuitive Surgical remains a key pick, with the upcoming launch of its da Vinci 5 surgical robot in mid-2025 expected to serve as a major growth driver. The company's leadership in surgical robotics, a high-margin, underpenetrated market, positions it for continued double-digit revenue and earnings growth.
Similarly, Boston Scientific is well-positioned in the cardiovascular and electrophysiology markets. Key drivers include advancements in pulsed field ablation and the Watchman FLX Left Atrial Appendage Closure device, which is expected to have a double-digit sales and earnings growth in 2025. In addition to these industry leaders, other large-cap names like DexCom Inc. (US), Medtronic PLC (Ireland), and Edwards Lifesciences Corp. (US) has potential opportunities.
In the mid-cap space, Inspire Medical System is leveraging its first-mover advantage in the obstructive sleep apnea market, with next-generation devices driving significant growth potential. Globus Medical, known for strong execution, is positioned for growth following its integration with NuVasive and its focus on orthopedic and neurosurgical robotics. Thus, several tailwinds are supporting long-term growth in MedTech, including an aging population, a shift towards more efficient care settings, and the integration of AI and digital solutions. Additionally, policies under the Trump administration, such as potential corporate tax cuts and a regulatory environment favorable to innovation, are expected to benefit the MedTech sector.
Some of the other key trends that the MedTech industry is likely to witness in 2025:
Artificial Intelligence (AI) is making significant contributions to various aspects of MedTech, enhancing diagnostics, patient screening, personalized medicine, and therapeutic modalities. According to recent data, over half of the global healthcare organizations intend to deploy AI plans and widely utilize the technology by 2025. Below are most anticipated growth areas to look out for in 2025:
- Generative AI to Drive Innovation in MedTech: With 85% of global healthcare leaders already investing or planning to invest in this technology within the next three years, this trend is set to accelerate in 2025 as the sector seeks greater workflow efficiencies.
- Retail Healthcare: Bringing Essential Services Closer to Patients' Doorsteps: Retailers are increasingly using their customer relationships to promote wellness programs, vaccinations, and health screenings. Significant acquisitions, like Walmart's purchase of VillageMD, highlight the growing integration of healthcare and retail sectors. This trend will continue in 2025, as retailers use their resources and customer bases to expand accessible, consumer-focused healthcare services.
- Genomics and Precision Medicine: Revolutionizing Healthcare Through Personalization: Novel immunotherapies for drug-resistant infections emphasize the shift toward personalized care. With 20% of new approvals utilizing biomarkers or targeted mechanisms, this trend marks the rise of precision-based healthcare solutions in 2025.
- Integrated Diagnostics: A Key to Improving Clinical Outcomes and Patient Care: The convergence of imaging, pathology, and lab tests with advanced IT is set to transform clinical research by enabling data analysis across multiple sites, reducing trial errors, controlling costs, and predicting trial success.
For more information, Inquire Now!
Related Reports:
Medical Radiation Detection Market
Intracardiac Echocardiography Market
Get access to the latest updates on MedTech Companies and MedTech Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg
Share this article