Global European Medical Devices Market Size, Share, Forecast Report, 2020-2027

The European medical devices market is projected to reach USD 61.4 billion by 2025 from USD 48.9 billion in 2020, at a CAGR of 4.7% during the forecast period. The rising geriatric population, large and established medical technology industry, increasing number of surgical procedures, growing need for cost-containment in the healthcare industry, and the availability of funding for research and product innovation are the major factors driving the growth of this market.
The anesthesia monitoring segment is projected to grow at the highest CAGR during the forecast period
Based on device type, the market has been segmented into orthopedic devices, diagnostic imaging systems, endoscopy devices, ophthalmic devices, interventional cardiology devices, cardiac monitoring and cardiac rhythm management devices, respiratory care devices, ventilators, anesthesia monitoring devices, dialysis devices, and diabetic care devices. Technological advancements and the growth in the number of surgical procedures have driven the demand for anesthesia monitoring devices in Europe. There is also a rapid growth in the market for targeted anesthesia agent dosing to ensure patient safety using different evolving technologies, such as bispectral index monitoring and neuromuscular monitoring.
Poland is expected to grow at the fastest rate in the European medical devices market during the forecast period.

While Germany held the largest share in the European medical devices market in 2019, Poland is expected to grow the fastest during the forecast period. While the market for medical devices in the country is currently immature as compared to other developed nations and consists majorly of imported products, it is projected to expand during the forecast period owing to factors such as the rising geriatric population and the growing demand for medical devices in home care settings. The market shows opportunities for expansion in the areas of diagnostic, surgical, cardiovascular, oncology, and nuclear medicine.

Key market players
Some of the major players in the European medical devices market are Siemens Healthineers (Germany), GE Healthcare (US), Philips (Netherlands), Abbott (US), Medtronic (Ireland), Stryker (US), Boston Scientific (US), Olympus(Japan), B. Braun (Germany), Fujifilm (Japan), ResMed (US), Masimo (US), and KARL STORZ (Germany).

The research report categorizes the market into the following segments and subsegments:

By Device Type

• Imaging Systems
• Endoscopy Devices
• Interventional Cardiology Devices
• Cardiac Monitoring and Cardiac Rhythm Management Devices
• Ventilators
• Orthopedic Devices
• Ophthalmic Devices
• Diabetes Care Devices
• Dialysis Devices
• Anesthesia Monitoring
•  Respiratory Care Devices

By End-User

• Hospital and Clinic Care Settings
• Home-care Settings

By Country/Regio

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Rest of Europe (RoE)