Medical Devices - France | Statista Market Forecast

In 2024, the projected revenue in the Medical Devices market market in France is expected to reach US$17.80bn.
Among the various markets, Cardiology_Devices is the largest, with a projected market volume of US$2.51bn in the same year.
Looking ahead, the market is expected to experience a steady annual growth rate of 3.88% from 2024 to 2029 (CAGR 2024-2029), resulting in a market volume of US$21.53bn by 2029.
It is worth noting that in the global market, the United States is anticipated to generate the highest revenue, amounting to US$181.00bn in 2024.
France is leading the way in the development and adoption of innovative medical devices in the field of neurology.

Definition:
The Medical Devices market includes instruments and machines helping for the prevention, diagnosis, and treatment of diseases. This market is further broken down into 6 submarkets according to medical specialties or types of application. Medical devices that treat the heart, such as pacemakers, can be found in the Cardiology Devices market. The Diagnostic Imaging market covers machines and instruments for diagnosis of many different kinds of conditions. Devices for orthopedic applications, such as joint implants, are included in the Orthopedic Devices market. Ophthalmic Devices are devices used for conditions related to the eye. The General & Plastic Surgery Devices covers many different products required for surgeries. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Siemens Healthineers.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Active medical devices (i.e., operating with electrical energy)

Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Products for laboratory testing (IVD)

The Medical Devices market in France is experiencing steady growth due to several factors.

Customer preferences: Customers in France have a strong preference for high-quality medical devices that are reliable and efficient. They also value devices that are user-friendly and easy to operate. Additionally, there is a growing demand for innovative and technologically advanced medical devices that can improve patient outcomes and provide more accurate diagnoses.

Trends in the market: One of the key trends in the Medical Devices market in France is the increasing adoption of digital health technologies. This includes wearable devices, remote monitoring systems, and mobile health applications. These technologies enable patients to monitor their health conditions more effectively and allow healthcare professionals to remotely monitor patients and provide timely interventions. The COVID-19 pandemic has further accelerated the adoption of digital health technologies, as telemedicine and remote patient monitoring became crucial in ensuring continuity of care. Another trend in the market is the growing focus on personalized medicine. Advances in genomics and molecular diagnostics have paved the way for targeted therapies and personalized treatment plans. This has led to an increased demand for medical devices that can support precision medicine, such as genetic testing kits and companion diagnostics.

Local special circumstances: France has a well-established healthcare system that provides universal coverage to its citizens. This ensures that a large portion of the population has access to medical devices and healthcare services. The government also plays a significant role in the Medical Devices market through regulations and reimbursement policies. The French regulatory framework ensures that medical devices meet strict safety and quality standards before they can be marketed and sold in the country.

Underlying macroeconomic factors: The growth of the Medical Devices market in France is also influenced by macroeconomic factors. The country has a stable economy and a high level of healthcare expenditure, which supports the demand for medical devices. Additionally, France has an aging population, which is driving the demand for medical devices that cater to the needs of elderly patients. The increasing prevalence of chronic diseases, such as cardiovascular diseases and diabetes, also contributes to the growth of the market. In conclusion, the Medical Devices market in France is experiencing growth due to customer preferences for high-quality and innovative devices, the adoption of digital health technologies, the focus on personalized medicine, the well-established healthcare system, and underlying macroeconomic factors. These factors create a favorable environment for the development and expansion of the market in France.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.