North America medical device technology market is projected to grow at a significant CAGR of around 2.8% during the forecast period (2020-2026). The huge US FDA approvals for innovative CVD along with the growing adoption of minimally invasive/non-invasive cardiac surgeries are some of the major factors augmenting the market growth in the region. The geriatric population is more inclined to the risk of heart related diseases. According to the World Health Organization (WHO), the incidence and prevalence rate of heart attacks are highest in North America, which is responsible for around 0.7 million fatalities in the region every year.
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According to Centers for Disease Control and Prevention (CDC), an individual in the US has a heart attack in every 40 seconds, estimating to around 805,000 Americans have a heart attack every year. Excessive consumption of alcohol and tobacco, unhealthy diet, and sedentary lifestyle are the major factors that are giving rise to the incidence and prevalence rates of heart diseases. Along with the US, around 1.6 million fatalities occur every year, owing to the heart stroke and at least 1.3 million Canadians live with heart diseases, as per the Heart & Stroke Foundation. This fact is further supporting the rise in the cardiology devices, offering growth to the medical device technology market in North America.
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Market Coverage
- Market number available for- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Product Type
- Countries Covered- US and Canada
- Key Companies Profiled- Thermo Fisher Scientific Inc., General Electric Co., Abbott Laboratories, Johnson & Johnson Services Inc., and Koninklijke Philips N.V.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from pre-COVID
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North America Medical Device Technology Market – Segmentation
By Product Type
- In Vitro Diagnostics Devices
- Diagnostic Imaging Devices
- Cardiology Devices
- Ophthalmology Devices
- Orthopedic Devices
- Others (Endoscopy Devices and Respiratory Care Devices)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
