Medical Products Market Future Challenges and Industry Growth Outlook by 2020-2026

Medical Products Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The medical products market is expected to witness a rise in demand on account of rapidly expanding healthcare sector and ongoing technological innovations. Medical products mainly include healthcare instruments, devices, apparatus, appliances, reagents, software, and machines that are meant to be used either in combination or alone for specific medical purposes.

Increasing consumer awareness coupled with rising integration of smart solutions with healthcare apparatus could boost the demand for medical products over the forthcoming years. These products play a crucial role in ensuring maximum patient care, and have become an integral part of today’s medical practices. Several medical professionals are dependent on medical devices to conduct effective patient diagnoses.

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Medical products like hospital beds play a crucial role in day-to-day operations of hospitals. They are built and designed to deliver superior safety, mobility and comfort to patients suffering from different diseases and those who are engaging in different treatment programs.

Developments in the healthcare industry has been achieved through increased construction of privately owned hospitals that primarily aimed at providing enhanced and customized healthcare solutions. These hospitals require a wide number and variety of medical beds, especially ICU beds, to provide a comfortable treatment to the patient.

The growing number of people involved in sports activities worldwide is consequently increasing the number of sports injuries. According to data furnished by the Centres for Diseases Control and Prevention, there are reportedly more than 8.6 million sports and recreational related injuries across the U.S. every year.

Constant development of new and technologically advanced products is another major factor propelling the demand for medical products. In May 2016, Georgia based GF health Products introduced its new range of offerings called Basic American Medical Products that comprised of stretchers, wheelchairs and other patient supporting medical items. 

Improving economic stability among people and the need for at-home healthcare services is paving the demand for home healthcare solutions. Reportedly, home healthcare segment in the global medical products market is likely to register a CAGR of over 6.4% in the coming years. Growing awareness among people regarding home-based healthcare services is driving the segmental growth.

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A significant volume of sports and road accident injuries and surging focus towards redeveloping and restructuring healthcare facilities is amplifying Canada medical products industry share. In a statement by Canadian Institute for Health Information, more than 22% of the total visits to the emergency centers across the region are primarily due to some form of injury.

Higher penetration of medical product manufacturers constantly targeting the advancement of medical products by way of introducing technology or innovation is influencing medical products market outlook. Prominent medical product companies include Invacare Corporation, Drive Medical, Sunrise Medical and Medline Industries, among various others. 

Partial Chapter of the Table of Content 

Chapter 2.  Executive Summary

2.1. Medical products industry 3600 synopsis, 2015 - 2026

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  End-use trends

2.1.4.  Regional trends

Chapter 3.  Medical Products Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Growing geriatric population base

3.3.1.2.  Rising number of disabilities and road accidents

3.3.1.3.  Technological advancements

3.3.1.4.  Increasing investments in healthcare infrastructural development and healthcare facilities

3.3.2.  Industry pitfalls & challenges

3.3.2.1.  Stringent regulations

3.3.2.2.  High cost of the device

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By end-use

3.5. Porter’s analysis

3.6. Competitive landscape, 2018

3.6.1.  Company matrix analysis, 2018

3.7.   PESTEL analysis 

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