North America Medical Device Market Outlook, 2029

The North America Medical Device Market is projected to reach a staggering USD 201.10 billion by 2024, driven by rise in health care expenditure.

According to publisher, The North American medical device market stands as a global leader, boasting a robust ecosystem of innovation, high adoption rates, and significant investments. Market Insights Market Size and Growth: The North American medical device market is projected to reach a staggering USD 201.10 billion by 2024, with a steady CAGR exceeding 4%. This growth signifies the increasing demand for advanced medical technologies and procedures.

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Growth Drivers: Several factors are propelling the North American medical device market forward: Aging Population: The growing elderly population in North America drives the demand for medical devices used in diagnostics, treatment, and chronic disease management. Technological Advancements: Continuous advancements in areas like robotics, artificial intelligence (AI), and minimally invasive surgery are creating innovative medical devices for improved patient outcomes and faster recovery times.

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Manmayi Raval

Manmayi Raval

Research Consultant

Example: Robotic surgery systems are being increasingly adopted in hospitals across North America, offering surgeons greater precision and control during complex procedures, leading to benefits for patients like reduced scarring and faster recovery. Rising Healthcare Expenditure: Increasing healthcare spending in North America creates a market for advanced medical devices that can improve treatment efficacy and potentially reduce overall healthcare costs in the long run. Market Dynamics The North American medical device market is a dynamic environment shaped by several key forces:

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Manmayi Raval

Regulatory Landscape: Stringent regulations from the Food and Drug Administration (FDA) ensure the safety and efficacy of medical devices before they reach patients. This can be a complex and lengthy process for manufacturers. Focus on Cost Containment: Rising healthcare costs pressure healthcare providers to seek cost-effective medical devices. This creates a demand for devices with longer lifespans, lower maintenance requirements, and potentially lower procedural costs. Reimbursement Challenges: Reimbursement policies from insurance companies can impact the adoption of new medical devices. Manufacturers need to demonstrate the cost-effectiveness of their devices to secure adequate reimbursement rates. Market Segments The North American medical device market can be segmented based on various criteria: Product Type: Cardiology Devices: This segment holds the largest market share due to the prevalence of cardiovascular diseases in North America. Examples include pacemakers, stents, and cardiac monitors. Imaging Devices: Diagnostic imaging devices like X-ray, CT scanners, and MRIs are crucial for disease detection and treatment planning. Orthopedic Devices: Joint replacements, surgical tools, and prosthetics for bone and joint conditions are prominent in this segment. Regional Analysis While North America functions as a single market, there are variations in medical device adoption across the region: United States: The United States is the dominant force in the North American medical device market, with a concentration of leading medical device manufacturers, research institutions, and a well-established healthcare infrastructure. Canada: Canada has a growing medical device market, with a focus on adopting innovative technologies and promoting domestic manufacturing. Key Developments Telemedicine and Remote Patient Monitoring: The rise of telemedicine and remote patient monitoring technologies allows for improved patient care and data collection, potentially leading to the development of new medical devices for remote patient management. Focus on Personalized Medicine: Advancements in personalized medicine create a demand for tailored medical devices catering to individual patient needs. Adoption of Artificial Intelligence: AI integration within medical devices holds potential for improved diagnostics, surgical planning, and robotic-assisted procedures. Competitive Landscape The North American medical device market is a highly competitive landscape with a mix of established players and innovative startups: Global Medical Device Giants: Companies like Medtronic, Johnson & Johnson, and Abbott Laboratories are major players, offering a wide range of medical devices across various segments. Emerging Technology Companies: Startups are developing innovative medical devices powered by AI, robotics, and other emerging technologies. The North American medical device market is continuously evolving, driven by innovation and the need for improved patient care. By embracing new technologies and navigating the dynamic market landscape, companies in this sector can play a vital role in shaping the future of healthcare in North America.

Table of Contents

  • 1 Introduction 9
  • 1.1 Industry Definition and Research Scope 9
  • 1.1.1 Industry Definition 9
  • 1.1.2 Research Scope 10
  • 1.2 Research Methodology 13
  • 1.2.1 Overview of Market Research Methodology 13
  • 1.2.2 Market Assumption 14
  • 1.2.3 Secondary Data 14
  • 1.2.4 Primary Data 14
  • 1.2.5 Data Filtration and Model Design 15
  • 1.2.6 Market Size/Share Estimation 16
  • 1.2.7 Research Limitations 17
  • 1.3 Executive Summary 18
  • 2 Market Overview and Dynamics 21
  • 2.1 Market Size and Forecast 21
  • 2.1.1 Impact of COVID-19 on World Economy 22
  • 2.1.2 Impact of COVID-19 on the Market 25
  • 2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 27
  • 2.2 Major Growth Drivers 31
  • 2.3 Market Restraints and Challenges 38
  • 2.4 Emerging Opportunities and Market Trends 41
  • 2.5 Porter’s Fiver Forces Analysis 45
  • 3 Segmentation of North America Market by Category 49
  • 3.1 Market Overview by Category 49
  • 3.2 Diagnostic Devices 51
  • 3.2.1 Electrodiagnostic Devices 52
  • 3.2.2 Radiation Devices 53
  • 3.2.3 Imaging Parts & Accessories 55
  • 3.3 Consumables 57
  • 3.3.1 Syringes, Needles & Catheters 58
  • 3.3.2 Bandages & Dressings 59
  • 3.3.3 Suturing Materials 60
  • 3.3.4 Other Consumables 61
  • 3.4 Patient Aids 63
  • 3.4.1 Portable Aids 64
  • 3.4.2 Therapeutic Applications 66
  • 3.5 Orthopaedics and Prosthetics 67
  • 3.5.1 Fixation Devices 68
  • 3.5.2 Artificial Joints 69
  • 3.5.3 Other Artificial Body Parts 70
  • 3.6 Dental Products 71
  • 3.6.1 Dental Instrument & Supplies 72
  • 3.6.2 Dental Capital Equipment 74
  • 3.7 Other Medical Device Categories 75
  • 4 Segmentation of North America Market by Application 77
  • 4.1 Market Overview by Application 77
  • 4.2 Diagnostic Imaging Devices 79
  • 4.3 In Vitro Diagnostics (IVDs) 80
  • 4.4 Cardiology 81
  • 4.5 Orthopedics 82
  • 4.6 Ophthalmics 83
  • 4.7 Respiratory 84
  • 4.8 Urology & Gynecology 85
  • 4.9 General and Plastic Surgery 86
  • 4.10 Endoscopy 87
  • 4.11 Dental 88
  • 4.12 Diabetic Care 89
  • 4.13 Wound Management 90
  • 4.14 Nephrology 91
  • 4.15 General Hospital and Healthcare 92
  • 4.16 Ear, Nose and Throat 93
  • 4.17 Neurology 94
  • 4.18 Robotics Navigation 95
  • 4.19 Other Applications 96
  • 5 Segmentation of North America Market by End User 97
  • 5.1 Market Overview by End User 97
  • 5.2 Hospitals & Surgical Centers 99
  • 5.3 Clinics 100
  • 5.4 Household 101
  • 5.5 Other End Users 102
  • 6 North America Market 2022-2032 by Country 103
  • 6.1 Overview of North America Market 103
  • 6.2 U.S. 106
  • 6.3 Canada 110
  • 6.4 Mexico 112
  • 7 Competitive Landscape 114
  • 7.1 Overview of Key Vendors 114
  • 7.2 New Product Launch, Partnership, Investment, and M&A 118
  • 7.3 Company Profiles 119
  • 3M Co. 119
  • Abbott Laboratories 121
  • Allergan plc 126
  • Baxter International Inc. 127
  • Bayer 130
  • B Braun Melsungen Ag 133
  • Becton, Dickinson and Co. 136
  • Boston Scientific Corp. 139
  • Cardinal Health Inc. 142
  • Covidien plc 145
  • Cryolife Inc. 146
  • Danaher 148
  • Depuy Synthes 151
  • Endologix, Inc. 153
  • Essilor Luxottica S.A. 155
  • Fresenius Kabi Ag 156
  • General Electric Co. (GE Healthcare) 159
  • Getinge Ab 162
  • Johnson & Johnson 164
  • Koninklijke Philips NV 167
  • Medtronic Inc. 171
  • Novartis AG 174
  • Olympus Corp. 177
  • Roche Diagnostics 180
  • Siemens Healthineers 183
  • Smith & Nephew PLC 185
  • Smiths Medical 187
  • St. Jude Medical Inc. 189
  • Stryker Corp. 190
  • Terumo Corp. 193
  • Thermo Fisher Scientific 194
  • Zimmer Holdings Inc. 197
  • Related Reports and Products 200



Table 1. Snapshot of North America Medical Device Market in Balanced Perspective, 2022-2032 19
Table 2. World Economic Outlook, 2021-2031 23
Table 3. World Economic Outlook, 2021-2023 24
Table 4. Scenarios for Economic Impact of Ukraine Crisis 28
Table 5. Main Product Trends and Market Opportunities in North America Medical Device Market 41
Table 6. North America Medical Device Market by Category, 2022-2032, $ bn 49
Table 7. North America Medical Device Market: Diagnostic Devices by Segment, 2022-2032, $ bn 51
Table 8. North America Medical Device Market: Electrodiagnostic Devices by Segment, 2022-2032, $ bn 52
Table 9. North America Medical Device Market: Radiation Devices by Segment, 2022-2032, $ bn 53
Table 10. North America Medical Device Market: Imaging Parts & Accessories by Segment, 2022-2032, $ bn 55
Table 11. North America Medical Device Market: Consumables by Segment, 2022-2032, $ bn 57
Table 12. North America Medical Device Market: Syringes, Needles & Catheters by Segment, 2022-2032, $ bn 58
Table 13. North America Medical Device Market: Bandages & Dressings by Segment, 2022-2032, $ bn 59
Table 14. North America Medical Device Market: Other Consumables by Segment, 2022-2032, $ bn 61
Table 15. North America Medical Device Market: Patient Aids by Segment, 2022-2032, $ bn 63
Table 16. North America Medical Device Market: Portable Aids by Segment, 2022-2032, $ bn 64
Table 17. North America Medical Device Market by Patient Aids: Therapeutic Applications by Segment, 2022-2032, $ bn 66
Table 18. North America Medical Device Market: Orthopaedics and Prosthetics by Segment, 2022-2032, $ bn 67
Table 19. North America Medical Device Market: Dental Products by Segment, 2022-2032, $ bn 71
Table 20. North America Medical Device Market: Dental Instrument & Supplies by Segment, 2022-2032, $ bn 72
Table 21. North America Medical Device Market: Dental Capital Equipment by Segment, 2022-2032, $ bn 74
Table 22. North America Medical Device Market: Other Medical Device Categories by Segment, 2022-2032, $ bn 76
Table 23. North America Medical Device Market by Application, 2022-2032, $ bn 77
Table 24. North America Medical Device Market by End User, 2022-2032, $ bn 97
Table 25. North America Medical Device Market by Country, 2022-2032, $ bn 104
Table 26. U.S. Medical Device Market by Application, 2022-2032, $ bn 108
Table 27. U.S. Medical Device Market by End User, 2022-2032, $ bn 108
Table 28. Canada Medical Device Market by Application, 2022-2032, $ bn 111
Table 29. Canada Medical Device Market by End User, 2022-2032, $ bn 111
Table 30. Mexico Medical Device Market by Application, 2022-2032, $ bn 113
Table 31. Mexico Medical Device Market by End User, 2022-2032, $ bn 113
Table 32. Breakdown of World Market by Key Vendor, 2022, % 116
Table 33. 3M Co.: Company Snapshot 119
Table 34. 3M Co.: Business Segmentation 119
Table 35. 3M Co.: Product Portfolio 120
Table 36. Abbott Laboratories: Company Snapshot 121
Table 37. Abbott Laboratories: Business Segmentation 122
Table 38. Abbott Laboratories: Product Portfolio of MD 123
Table 39. Abbott Laboratories: Revenue, 2018-2020, $ bn 123
Table 40. Baxter International Inc.: Company Snapshot 127
Table 41. Baxter International Inc.: Business Segmentation 127
Table 42. Baxter International Inc.: Revenue by Region 128
Table 43. Baxter International Inc.: Product Portfolio of MD 128
Table 44. Bayer AG: Company Snapshot 130
Table 45. Bayer AG: Business Segmentation 131
Table 46. Bayer AG: Product Portfolio of MD 131
Table 47. Bayer AG: Revenue, 2018-2020, € bn 131
Table 48. B Braun Melsungen Ag: Company Snapshot 133
Table 49. B Braun Melsungen Ag: Business Segmentation 134
Table 50. B Braun Melsungen Ag: Revenue by Region 134
Table 51. Becton, Dickinson & Co: Company Snapshot 136
Table 52. Becton, Dickinson & Co: Product Portfolio of MD 137
Table 53. Boston Scientific Corp.: Company Snapshot 139
Table 54. Boston Scientific Corp.: Product Portfolio of MD 140
Table 55. Cardinal Health Inc.: Company Snapshot 142
Table 56. Cardinal Health Inc.: Product Portfolio of MD 143
Table 57. CryoLife Inc.: Product Portfolio of MD 146
Table 58. Danaher Corporation: Company Snapshot 148
Table 59. Danaher Corporation: Product Portfolio of MD 149
Table 60. DePuy Synthes: Product Portfolio of MD 151
Table 61. Endologix, Inc.: Product Portfolio of MD 153
Table 62. Fresenius Kabi Ag: Company Snapshot 156
Table 63. Fresenius Kabi Ag: Business Segmentation 157
Table 64. Fresenius Kabi Ag: Revenue by Region 157
Table 65. Fresenius Kabi Ag: Product Portfolio of MD 157
Table 66. General Electric: Company Snapshot 159
Table 67. General Electric: Product Portfolio of MD 160
Table 68. Getinge Ab: Product Portfolio of MD 162
Table 69. Johnson & Johnson: Company Snapshot 164
Table 70. Johnson & Johnson: Business Segments 164
Table 71. Koninklijke Philips N.V.: Company Snapshot 167
Table 72. Koninklijke Philips N.V.: Revenue, 2016-2018, $ bn 168
Table 73. Koninklijke Philips N.V.: Product Portfolio of MD 168
Table 74. Medtronic Inc.: Company Snapshot 171
Table 75. Medtronic Inc.: Net Revenue by Segment, 2018-2020, $ bn 172
Table 76. Medtronic Inc.: Net Revenue by Region, 2017-2019, $ bn 172
Table 77. Medtronic Inc.: Product Portfolio of MD 172
Table 78. Novartis International AG: Company Snapshot 174
Table 79. Novartis International AG: Business Segmentation 174
Table 80. Novartis International AG: Revenue, 2017-2019, $ bn 175
Table 81. Novartis International AG: Product Portfolio of MD 175
Table 82. Olympus Corp.: Product Portfolio of MD 178
Table 83. Roche Diagnostics: Product Portfolio of MD 181
Table 84. Siemens Healthineers: Company Snapshot 183
Table 85. Siemens Healthineers: Product Portfolio of MD 184
Table 86. Smith & Nephew PLC: Company Snapshot 185
Table 87. Smith & Nephew PLC: Product Portfolio of MD 185
Table 88. Smiths Medical: Product Portfolio of MD 188
Table 89. Stryker Corp.: Company Snapshot 190
Table 90. Stryker Corp.: Net Revenue by Segment, 2017-2019, $ bn 191
Table 91. Stryker Corp.: Net Revenue by Region, 2017-2019, $ bn 191
Table 92. Stryker Corp.: Product Portfolio of MD 191
Table 93. Thermo Fisher Scientific: Company Snapshot 194
Table 94. Thermo Fisher Scientific: Product Portfolio of MD 195
Table 95. Zimmer Biomet Holdings, Inc.: Company Snapshot 197
Table 96. Zimmer Biomet Holdings, Inc.: Business Segments 198
Table 97. Zimmer Biomet Holdings, Inc.: Product Portfolio of MD 198



Figure 1. Research Method Flow Chart 13
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 18
Figure 4. North America Medical Device Market, 2022-2032, $ bn 21
Figure 5. Impact of COVID-19 on Business 25
Figure 6. Primary Drivers and Impact Factors of North America Medical Device Market 31
Figure 7. Worldwide Geriatric Population (60 years and above) by Regions, 2015 & 2032, million 34
Figure 8. World Population 65 and Over, % of Total Population, 1950-2060 34
Figure 9. World Number of Deaths by Cause in 2017 36
Figure 10. World Number of Deaths from Cancers in 2017 37
Figure 11. Primary Restraints and Impact Factors of North America Medical Device Market 38
Figure 12. Investment Opportunity Analysis 42
Figure 13. Porter’s Fiver Forces Analysis of North America Medical Device Market 45
Figure 14. Breakdown of North America Medical Device Market by Category, 2022-2032, % of Revenue 50
Figure 15. North America Addressable Market Cap in 2023-2032 by Category, Value ($ bn) and Share (%) 50
Figure 16. North America Medical Device Market by Category: Diagnostic Devices, 2022-2032, $ bn 51
Figure 17. North America Medical Device Market by Diagnostic Devices: Electrodiagnostic Devices, 2022-2032, $ bn 52
Figure 18. North America Medical Device Market by Diagnostic Devices: Radiation Devices, 2022-2032, $ bn 53
Figure 19. North America Medical Device Market by Diagnostic Devices: Imaging Parts & Accessories, 2022-2032, $ bn 55
Figure 20. North America Medical Device Market by Category: Consumables, 2022-2032, $ bn 57
Figure 21. North America Medical Device Market by Consumables: Syringes, Needles & Catheters, 2022-2032, $ bn 58
Figure 22. North America Medical Device Market by Consumables: Bandages & Dressings, 2022-2032, $ bn 59
Figure 23. North America Medical Device Market by Consumables: Suturing Materials, 2022-2032, $ bn 60
Figure 24. North America Medical Device Market by Consumables: Other Consumables, 2022-2032, $ bn 61
Figure 25. North America Medical Device Market by Category: Patient Aids, 2022-2032, $ bn 63
Figure 26. North America Medical Device Market by Patient Aids: Portable Aids, 2022-2032, $ bn 64
Figure 27. North America Medical Device Market: Therapeutic Applications, 2022-2032, $ bn 66
Figure 28. North America Medical Device Market by Category: Orthopaedics and Prosthetics, 2022-2032, $ bn 67
Figure 29. North America Medical Device Market by Orthopaedics and Prosthetics: Fixation Devices, 2022-2032, $ bn 68
Figure 30. North America Medical Device Market by Orthopaedics and Prosthetics: Artificial Joints, 2022-2032, $ bn 69
Figure 31. North America Medical Device Market by Orthopaedics and Prosthetics: Other Artificial Body Parts, 2022-2032, $ bn 70
Figure 32. North America Medical Device Market by Category: Dental Products, 2022-2032, $ bn 71
Figure 33. North America Medical Device Market by Dental Products: Dental Instrument & Supplies, 2022-2032, $ bn 72
Figure 34. North America Medical Device Market by Dental Products: Dental Capital Equipment, 2022-2032, $ bn 74
Figure 35. North America Medical Device Market by Category: Other Medical Device Categories, 2022-2032, $ bn 75
Figure 36. Breakdown of North America Medical Device Market by Application, 2022-2032, % of Sales Revenue 78
Figure 37. North America Addressable Market Cap in 2023-2032 by Application, Value ($ bn) and Share (%) 78
Figure 38. North America Medical Device Market by Application: Diagnostic Imaging Devices, 2022-2032, $ bn 79
Figure 39. North America Medical Device Market by Application: In Vitro Diagnostics (IVDs), 2022-2032, $ bn 80
Figure 40. North America Medical Device Market by Application: Cardiology, 2022-2032, $ bn 81
Figure 41. North America Medical Device Market by Application: Orthopedics, 2022-2032, $ bn 82
Figure 42. North America Medical Device Market by Application: Ophthalmics, 2022-2032, $ bn 83
Figure 43. North America Medical Device Market by Application: Respiratory, 2022-2032, $ bn 84
Figure 44. North America Medical Device Market by Application: Urology & Gynecology, 2022-2032, $ bn 85
Figure 45. North America Medical Device Market by Application: General and Plastic Surgery, 2022-2032, $ bn 86
Figure 46. North America Medical Device Market by Application: Endoscopy, 2022-2032, $ bn 87
Figure 47. North America Medical Device Market by Application: Dental, 2022-2032, $ bn 88
Figure 48. North America Medical Device Market by Application: Diabetic Care, 2022-2032, $ bn 89
Figure 49. North America Medical Device Market by Application: Wound Management, 2022-2032, $ bn 90
Figure 50. North America Medical Device Market by Application: Nephrology, 2022-2032, $ bn 91
Figure 51. North America Medical Device Market by Application: General Hospital and Healthcare, 2022-2032, $ bn 92
Figure 52. North America Medical Device Market by Application: Ear, Nose and Throat, 2022-2032, $ bn 93
Figure 53. North America Medical Device Market by Application: Neurology, 2022-2032, $ bn 94
Figure 54. North America Medical Device Market by Application: Robotics Navigation, 2022-2032, $ bn 95
Figure 55. North America Medical Device Market by Application: Other Applications, 2022-2032, $ bn 96
Figure 56. Breakdown of North America Medical Device Market by End User, 2022-2032, % of Sales Revenue 98
Figure 57. North America Addressable Market Cap in 2023-2032 by End User, Value ($ bn) and Share (%) 98
Figure 58. North America Medical Device Market by End User: Hospitals & Surgical Centers, 2022-2032, $ bn 99
Figure 59. North America Medical Device Market by End User: Clinics, 2022-2032, $ bn 100
Figure 60. North America Medical Device Market by End User: Household, 2022-2032, $ bn 101
Figure 61. North America Medical Device Market by End User: Other End Users, 2022-2032, $ bn 102
Figure 62. Breakdown of North America Medical Device Market by Country, 2022 and 2032F, % of Revenue 104
Figure 63. Contribution to North America 2023-2032 Cumulative Revenue by Country, Value ($ bn) and Share (%) 105
Figure 64. U.S. Medical Device Market, 2022-2032, $ bn 107
Figure 65. U.S. Healthcare Consumption Payor Mix and as % of GDP 107
Figure 66. Canada Medical Device Market, 2022-2032, $ bn 110
Figure 67. Medical Device Market in Mexico, 2022-2032, $ bn 112
Figure 68. Growth Stage of North America Medical Device Industry over the Forecast Period 114
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North America Medical Device Market Outlook, 2029

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