Medical equipment devices are designed to aid diagnosis, monitoring or treatment of medical conditions.
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The market is valued at nearly $375 billion in 2017 due to the economic growth, technological advancements and changes in lifestyle.
In the report, the global medical equipment market is divided into fifteen segments. In-vitro diagnostics was the largest segment in the medical equipment market with nearly 16% share and cardiovascular devices was the second largest segment in the medical equipment market with 15% share and the remaining 70% was occupied by the other thirteen segments namely, diagnostic equipment, orthopedic devices, hospital supplies, ophthalmic devices, nephrology and urology devices, patient monitoring devices, dental equipment and supplies, wound care devices, diabetes care devices, surgical equipment, ENT devices, anesthesia and respiratory devices and neurology devices.
The USA was the largest country in the medical equipment market in 2017, accounting for nearly one-fifth market share. China and Japan followed the USA as the next largest countries in the market.
The medical equipment market is fragmented with a number of large and small organizations. The top five competitors in the market made up about 29% of the total market in 2017. Medtronic plc was the largest competitor of the market, followed by Johnson & Johnson Inc., Philips Healthcare, GE Healthcare and Siemens Healthcare. Medtronic was founded in 1949 and is headquartered at Minnesota, USA. It develops and manufactures medical technology devices, device-based medical therapies & provides services and markets products.
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