Medical Equipment and Diagnostic Equipment Segmentation
Product Type (Drug Delivery Systems, Medical Devices, Diagnostic Devices)
The medical devices segment dominates the global medical equipment and diagnostic equipment market, holding a 43.5% share in 2024. This growth is due to minimally invasive surgeries, robotic-assisted systems, and wearables in health technologies, which continue to push technological advancements. The integration of AI into medical devices also enhanced their accuracy and efficiency, henceforth considered very critical in current healthcare. For example, Johnson & Johnson's announcement of the launch of Ethizia, a hemostatic sealing patch, and Cereglide aspiration catheter in Europe in November 2023 marked the growing importance of innovative medical devices that are being recognized for their vital role in improving patient outcomes and boosting market growth.
Raw Material (Metal, Plastic, General-Purpose Engineering Plastics, Super Engineering Plastics, Ceramics, Others)
The plastic segment dominated with a 40.3% share in the global medical equipment and diagnostic equipment market in 2024 due to its versatility, cost-effectiveness, and ease of manufacturing. Single-use disposable medical devices are manufactured using plastic in massive numbers to meet the huge demand generated due to acute infection control pressures in the healthcare industry. The demand is also rising as plastics provide the light and durable component needed by many medical equipment. In December 2023, Neste and Eppendorf announced a collaboration in the development of biodegradable plastic lab consumables. The shift toward more sustainable materials has retained plastic's widespread utility in medical manufacturing.
Our in-depth analysis of the medical equipment and diagnostic equipment market includes the following segments:
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