Market Insights Health Medical Technology Medical Devices

Other Medical Devices - EMEA

EMEA

The revenue in the Other Medical Devices market market in Europe, the Middle East, and Africa (in Europe, the Middle East, and Africa) is forecasted to reach US$64.68bn in 2024.
The market is expected to grow at an annual growth rate of 3.96% (CAGR 2024-2029), which would result in a market volume of US$78.54bn by 2029.
It is worth noting that in terms of global comparison, the United States is projected to generate the highest revenue of US$72,780.00m in 2024.
In the EMEA region, Germany is leading the way in the development and adoption of innovative medical devices for non-invasive procedures.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Medical Devices market in EMEA is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Other Medical Devices market in EMEA are evolving, with a growing demand for innovative and technologically advanced products. Customers are increasingly seeking medical devices that are user-friendly, portable, and offer enhanced functionality. This has led to the development of new and improved devices that cater to these preferences, such as wearable medical devices and remote monitoring systems. Additionally, there is a rising demand for personalized healthcare solutions, which has further fueled the growth of the Other Medical Devices market in EMEA. Trends in the market include the increasing adoption of telemedicine and home healthcare services, which have become particularly relevant in the wake of the COVID-19 pandemic. These trends have accelerated the demand for remote monitoring devices and telehealth platforms, as healthcare providers and patients seek alternatives to traditional in-person consultations. Furthermore, the market is witnessing a shift towards sustainable and eco-friendly medical devices, as environmental consciousness becomes a key consideration for customers and healthcare organizations. Local special circumstances also play a role in shaping the development of the Other Medical Devices market in EMEA. For instance, in countries with aging populations, there is a higher demand for medical devices that cater to the needs of elderly individuals, such as mobility aids and assistive devices. Additionally, regulatory frameworks and reimbursement policies vary across countries in the region, impacting the adoption and availability of certain medical devices. These local factors influence the market dynamics and create opportunities for both local and international players. Underlying macroeconomic factors, such as economic growth, healthcare expenditure, and government initiatives, also contribute to the development of the Other Medical Devices market in EMEA. As economies in the region continue to grow, there is an increased focus on healthcare infrastructure development and improvement. This translates into higher healthcare spending and investments in medical devices. Furthermore, government initiatives aimed at improving healthcare access and quality, such as universal healthcare coverage and digital health strategies, drive the demand for medical devices in the region. In conclusion, the Other Medical Devices market in EMEA is witnessing significant growth and development, driven by evolving customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for innovative and technologically advanced devices, the adoption of telemedicine and home healthcare services, local demographic factors, and government initiatives all contribute to the expansion of the market in the region. As the healthcare landscape continues to evolve, the Other Medical Devices market in EMEA is expected to experience further growth and innovation.

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.