(EMAILWIRE.COM, February 01, 2019 ) According to a new market research report "Top 10 Medical Device Technologies Market by Type (IVD, Cardiology, Diagnostic Imaging, Orthopedics, Ophthalmology, Endoscopy, Diabetes Care, Wound Management, Kidney/Dialysis, and Anesthesia & Respiratory Care Devices) - Global Forecast to 2020", published by MarketsandMarkets, The Global Top 10 Medical Device technologies Market is Poised to Reach USD 428.97 Billion by 2020, at a CAGR of 5.5% from 2015 to 2020.

This market is mainly driven by the rising prevalence of chronic diseases and related increase in disability-adjusted life years (DALYs), technological advancements in medical devices, and growing aging population. The increasing investments from government bodies and private players in healthcare sectors in emerging economies and growing focus of key players on emerging countries are expected to offer significant growth opportunities for the top 10 medical device technologies market in the coming years.

In this report, the top 10 medical device technologies market is segmented on the basis of type and region. On the basis of type, the market is segmented into IVD devices, cardiology devices, diagnostic imaging devices, orthopaedic devices, ophthalmology devices, endoscopy devices, diabetes care devices, wound management devices, kidney/dialysis devices, and anesthesia & respiratory care devices. In 2014, the IVD devices segment accounted for the largest share¬—17.1%—of the global top 10 medical device technologies market, and is poised to grow at a CAGR of 5.8% during the forecast period. The large share of this segment is mainly attributed to the prevalence of diabetes, cardiovascular diseases, and cancer. Similarly, the rising incidence of respiratory infections, hospital-acquired infections, other infectious diseases, and sexually transmitted diseases are also driving the growth of this market.
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Based on type, the top 10 medical device technologies market is segmented into in vitro diagnostic (IVD) devices, cardiology devices, diagnostic imaging devices, orthopedic devices, ophthalmology devices, endoscopy devices, diabetes care devices, wound management devices, kidney/dialysis devices, and anesthesia & respiratory care devices. The IVD devices segment accounted for the largest share of approximately 17.1% of the top 10 medical device technologies market, owing to the increase in the prevalence of diabetes, cardiovascular diseases, and cancer.
The orthopedic devices segment accounted for the second largest share 16.1% of the global market in 2014. The high share of this segment is attributed to the increasing demand from the elderly for orthopedic treatments, rising incidences of osteoarthritis, and increasing number of joint replacement surgeries as a consequence of obesity.
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Major players in the global top 10 medical device technologies market are Johnson & Johnson (U.S.), GE Healthcare (U.K.), Siemens Healthcare (Germany), Medtronic (U.S.), Philips Healthcare (Netherlands), Roche Diagnostics (Switzerland), Abbott Laboratories Inc. (U.S.), Smith & Nephew plc (U.K.), Stryker Corporation (U.S.), and Boston Scientific Corporation (U.S.).