Germany Medical Devices Market to Grow Due to Technological Advancement until 2026
Technological advancement is
driving the growth of Germany Medical Devices Market, in the forecast period,
2022-2026.
According to TechSci report on, “Germany
Medical
Devices Market By Type (Cardiovascular
Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic Devices, Ophthalmic
Devices, Diabetes Care Devices, Dental Care Devices, Surgical Equipment,
Patient Monitoring Devices, Orthopedic Devices, Nephrology & Urology
Devices, ENT Devices, Anesthesia & Respiratory Devices, Neurology Devices,
Mobility-Aid Devices, Others), By End User (Hospitals & Clinics, Diagnostic
Centers, Others), By Region, Competition Forecast & Opportunities, 2026”, Germany
medical devices market has shown
promising growth in historical years until 2019 and is expected to continue its
growth in upcoming forecast years 2021 to 2026. Germany medical devices market
owes its growth to the factors like surging demand for the early diagnosis and
effective treatment. The demand for technologically advanced, portable, and
wearable health devices is further anticipated to support the growth of the
Germany medical devices market in the upcoming five years. Moreover,
established market players and global giants coming up with product development
and innovative product launches is further aiding the growth of the Germany
medical devices market in the future five years. Additionally, innovative
technologies to maintain a high level of patient care in the country, the
Germany medical devices market is expected to show a robust growth in the
forecast period.
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The
Germany medical devices market is segmented by type, end user, regional
distribution, and competitional landscape. Based on type, the market is further
fragmented into cardiovascular devices, diagnostic imaging equipment, in-vitro
diagnostic devices, ophthalmic devices, diabetes care devices, dental care
devices, surgical equipment, patient monitoring devices, orthopedic devices,
nephrology & urology devices, ENT devices, anesthesia & respiratory
devices, neurology devices, mobility-aid devices, and others. Fulfilling
various purposes, the segmented categories of medical devices are all in demand
due to various diagnostic, treatment, examining, and monitoring functions they
perform. Cardiovascular devices are anticipated to register largest revenue
shares of the market in the upcoming five years on the account of surging
number of heart diseases and patient suffering from the chronic heart
conditions. Moreover, after the procedures like heart transplant or open-heart
surgeries, monitoring devices are required to keep check over the conditions
and maintain the required environment for the organ to heal post-op, thus
monitoring devices related to cardiovascular diseases are also expected to grow
and further aid the growth of the Germany medical devices market in the future
five years. Smart-electronic and wearable monitoring devices like fitness
tracker, blood pressure monitor, and blood-sugar monitor are also aiding the
growth to the patient monitoring devices sub-segment. Consumers concerned
toward their daily consumption of sugar and concerned about their regular
health are rapidly opting for the smart technology incorporated wearables to
track their fitness. Additionally, surging demand for the early and effective
diagnosis and demand for non-invasive medical procedures are also supporting
the growth of the diagnostic imaging equipment sub-segment. Increased number of
complicated illnesses and thus spreading communicable diseases along with the
recent pandemic situation caused due to COVID-19 viral infection is anticipated
to further support the growth of the Germany medical devices market in the next
five years.
GE
Healthcare GmbH, Siemens Healthcare GmbH, Philips Medical Systems DMC GmbH,
Fujifilm Europe GmbH, Medtronic GmbH, Johnson & Johnson GmbH, Abbott GmbH,
Becton Dickinson Rowa Germany GmbH, Baxter Deutschland GmbH, Bausch & Lomb
GmbH, Alcon Deutschland GmbH, Dexcom Deutschland GmbH, Hill-Rom GmbH, ResMed
Germany Inc., Roche Diagnostics GmbH, among others are some of the market
share-holders that drive the future growth of the Germany medical devices
market. These market players hold larger shares of the market than the new
market players. With the evolving technology, it is appropriate to say that the
effective research and development of the technologically advanced instruments
and methods to satisfy consumer demands would support the market growth and benefit
the market players as well as the consumers. New market players may focus on
the research and development to provide such products and services that
satisfies the consumer demand as well as benefits the market players in
building their brand value. Other competitive strategies include mergers &
acquisitions and new product developments.
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“Germany
has one of the largest healthcare industries in the world, in fact it is the
largest healthcare industry in European region. Demand for advanced
technologies, innovative products, to maintain the world-class patient care in
the country. Moreover, diagnostic, therapeutic, and minimally invasive
equipment demand is surging in the recent years and thereby driving the growth
of the Germany medical devices market in the future five years. New market
players are advised to invest in advanced technology development and extended research
such that advanced products and innovative ideas can be developed and thus aid
their brand establishment,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Germany Medical Devices Market By Type
(Cardiovascular Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic
Devices, Ophthalmic Devices, Diabetes Care Devices, Dental Care Devices,
Surgical Equipment, Patient Monitoring Devices, Orthopedic Devices, Nephrology
& Urology Devices, ENT Devices, Anesthesia & Respiratory Devices,
Neurology Devices, Mobility-Aid Devices, Others), By End User (Hospitals &
Clinics, Diagnostic Centers, Others), By Region, Competition Forecast &
Opportunities, 2026” has evaluated the
future growth potential of Germany medical devices market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Germany medical devices market.
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