From GlobeNewswire: 2024-04-03 11:30:00

The global medical equipment market is booming, with a projected size of $775.42 billion by 2024 and a CAGR of 9.3%. Factors driving growth include the rising prevalence of chronic diseases, technological advancements, and increased healthcare expenditure.

Chronic diseases are a key driver of the medical equipment market’s growth, with remote care and monitoring becoming essential. Healthcare spending in Canada is projected to reach $344 billion by 2023, with a surge in demand for medical equipment expected.

Innovation is thriving in the medical equipment market, with companies developing cutting-edge products like CT scanners to enhance clinical confidence and operational efficiency. GE Healthcare Technologies Inc. has introduced the revolution aspire CT system in India to democratize healthcare access.

The medical equipment market is segmented by type, product, and end-user, with a high level of concentration among the top ten competitors like Medtronic Inc., Abbott Laboratories, and Johnson & Johnson. Market dynamics are driven by acquisitions, partnerships, and product innovations.

North America leads in the medical equipment market, while the Middle East and South America show the fastest growth rates. These regions offer untapped opportunities for market expansion due to increasing healthcare expenditure and demand for medical equipment.



Read more at GlobeNewswire: Transformative Growth Expected In The Global Medical