$219.55 billion market by 2029 led by Medtronic, Johnson & Johnson, General Electric and Siemens

Market of hospital medical device manufacturers in the USA

Dublin, May 30, 2024 (GLOBE NEWSWIRE) — The “United States Hospital Medical Device Manufacturers Market by Region, Competition, Forecast and Opportunity, 2019-2029F” report has been added. ResearchAndMarkets.com offering.

The US hospital medical device manufacturers market was valued at $165.24 billion in 2023 and is expected to witness steady growth at a CAGR of 4.72% through 2029 over the forecast period.

The U.S. hospital medical device manufacturer market is a dynamic and integral component of the nation’s healthcare industry, supplying a wide range of innovative and essential medical devices to healthcare facilities across the country. This market sector includes the production and distribution of a variety of medical equipment and instruments, from diagnostic devices to surgical instruments, patient monitoring systems and advanced medical imaging equipment. These devices are crucial in the diagnosis, treatment and care of patients in hospitals, clinics and other healthcare facilities.

The U.S. hospital medical device market is a highly competitive landscape with both established giants and innovative startups. Major players in the industry include well-known companies such as Medtronic, Johnson & Johnson, General Electric, and Siemens. These corporations invest heavily in research and development to introduce cutting-edge technologies, drive progress and improve patient outcomes.

One of the factors driving this market is the growing demand for advanced medical devices that improve patient care and streamline healthcare processes. Factors such as aging population, increasing number of chronic diseases and demand for efficient and accurate diagnostic tools are contributing to the market growth. Additionally, the Covid-19 pandemic has accelerated the adoption of telemedicine and remote monitoring, further driving demand for medical devices in the United States.

Regulatory agencies, such as the Food and Drug Administration (FDA), play a key role in ensuring the safety and effectiveness of medical devices in the United States. Strict regulatory guidelines and quality standards are in place to maintain the integrity of the industry and protect patient well-being.

Personalized medicine

Personalized medicine is becoming a significant growth factor in the hospital medical device market in the United States. This revolutionary approach to healthcare tailors treatments and interventions to individual patients based on their unique genetic and clinical characteristics. As knowledge of genetics and molecular biology advances, medical device manufacturers are developing a range of innovative devices to support the delivery of personalized care.

One of the key elements driving the demand for medical devices in personalized medicine is genetic sequencing technology. Next-generation sequencing and other advanced genetic testing methods enable healthcare professionals to gain in-depth insight into a patient’s genetic make-up. Medical devices that facilitate effective genetic testing and analysis play a key role in the implementation of personalized medicine. These devices enable rapid and accurate genomic profiling, helping healthcare professionals make more informed decisions about treatment plans and drug selection.

Point-of-care testing devices are another important element of personalized medicine. These portable devices provide real-time diagnostics, making it easier to monitor patients and adjust treatment strategies accordingly. They are particularly valuable in situations where immediate decisions are required, such as in emergency medical services or during surgical procedures. The demand for user-friendly, portable and highly accurate point-of-care testing devices is growing, driving innovation and competition in the medical device market.

Precision medicine platforms are gaining popularity in the quest to tailor treatments to individual patient needs. These platforms integrate data from multiple sources, including genomic information, clinical records and lifestyle factors, to create comprehensive patient profiles. Medical device manufacturers are developing tools and technologies that enable healthcare providers to effectively use these platforms, increasing the accuracy of patient-specific treatment plans.

Minimally invasive surgery

Minimally invasive surgery (MIS) is a transformative trend that is a significant factor driving the growth of the hospital medical device manufacturer market in the United States. This surgical approach has revolutionized the field of surgery by offering patients less invasive alternatives to traditional open surgery while improving outcomes, shortening recovery time, and minimizing postoperative complications.

MIS techniques involve making small incisions and using specialized tools and medical devices, often using advanced imaging systems. These procedures are less traumatic for the patient, resulting in reduced pain, shorter hospital stays, and faster recovery times. Therefore, there is an increasing demand for medical devices that facilitate and improve the practice of MIS.

One of the key enablers of minimally invasive surgery is the development of advanced surgical instruments and tools that have become essential to healthcare providers. Laparoscopic cameras, robot-assisted surgical systems and precision surgical instruments are at the forefront of this trend. Laparoscopic cameras enable surgeons to visualize the surgical field in real time, ensuring precision and safety of procedures. Robotic-assisted surgical systems give surgeons greater dexterity and control, making complex surgeries less daunting. These devices have not only improved patient care but also contributed to market growth by increasing the use of minimally invasive techniques.

As the demand for MIS continues to grow, medical device manufacturers are investing heavily in the development of innovative tools and technologies that enhance the capabilities of healthcare providers. The U.S. hospital medical device manufacturer market has seen a surge in the production and distribution of these advanced surgical devices.

The benefits of MIS span a variety of medical specialties, including general surgery, gynecology, urology, and orthopedics. As surgeons in these specialties increasingly use minimally invasive techniques, the need for specialized surgical devices tailored to specific procedures has increased significantly.

Key Features:

Competitive environment

Company Profiles: Detailed analysis of the major companies present in the U.S. hospital medical device market.

• 3M company

• Abbott Laboratories Inc.

• Baxter International, Inc.

• B. Braun Melsungen AG

• GE Healthcare Technologies Inc.

• Johnson and Johnson

• Medtronic PLC

• Boston Scientific Corp

• Stryker company.

• Danaher company.

Report scope:

United States Hospital Medical Device Manufacturers Market by Type:

• Picture diagnosis

• Consumables

• Helping the patient

• Orthopedics

• Others

United States Hospital Medical Device Manufacturers Market by Region:

• Northeast

• Midwest

• West

• South

More information about this report can be found at https://www.researchandmarkets.com/r/wdyjq0

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