Health Care Devices Statistics By Revenue, Region, Market Size, Types And Facts
Pramod Pawar
Updated · Mar 13, 2025
TABLE OF CONTENTS
Introduction
Health Care Devices Statistics: The healthcare industry is undergoing a major transformation, and a big part of that is the rise of medical devices. These devices are changing the way we diagnose, treat, and manage health conditions.
The healthcare devices sector is experiencing unprecedented growth and transformation in 2024, driven by rapid technological advancements and the increasing demand for innovative medical solutions. This article will guide you effectively as it includes all current trends and analyses from different insights.
But just how big is this market, and what are some of the key trends? Let’s dive into some interesting statistics!
Editor’s Choice
- Statista projects that the healthcare devices sector will generate total revenue of USD 509.93 billion in 2024, marking a 6.5% increase from 2023.
- The market will grow at an annual rate of 5.71% (CAGR) from 2024 to 2029, reaching a market volume of USD 673.10 billion by the end of 2029.
- Analysts estimate that the medical devices and products market will add USD 0.6 trillion in value in 2024.
- The annual growth rate of the market’s value will achieve 1.32% CAGR from 2024 to 2029.
- In the same year, cardiology devices were the largest market, with an estimated market volume of USD 73.42 billion.
- The United States of America will account for the highest revenue in the healthcare devices industry in 2024.
- Analysts expect the revenue from the U.S. healthcare devices sector to reach approximately USD 179.80 billion.
- The North American region dominates the market with a 40% share, attributed to high healthcare expenditure and advanced healthcare infrastructure.
- The total medical technology market of North America holds around 39% of the share.
- For each healthcare device, on average, America will spend around USD 400.
- Health Care Devices Statistics further state that wearables like smartwatches and fitness trackers are becoming increasingly Popular.
- In 2024, the wearables market will hit USD 54 billion, a 15% increase from 2023.
- In the United States and the United Kingdom, medical technology companies will boost their R&D investments by 11.5%.
- Currently, 69% of healthcare organizations are testing or adopting AI.
General Health Care Devices Statistics
- In 2024, there will be around 40 magnetic resonance imaging (MRI) devices for every 1 million American people.
- In the next ten years, 63% of hospitals use around six SaaS applications, such as electronic health records (EHR) and medical practice management software.
- Approximately 75% of healthcare device industry participants stated that having a more robust supply chain is the biggest Concern.
- The global healthcare devices market will reach USD 657.98 billion by the end of 2024, up from USD 536.1 billion in 2022, marking a compound annual growth rate (CAGR) of 10.5%.
- Healthcare spending for children’s medical devices will reach USD 2.3 billion in 2024
By Revenue
(Reference: statista.com)
- The healthcare devices industry generated a total revenue of USD 478.54 billion in 2023.
- Analysts estimate that revenue will grow to USD 509.93 billion by the end of 2024.
- Health Care Devices Statistics projects the following revenue growth in subsequent years:
2025: USD 541.63 billion
2026: USD 573.33 billion
2027: USD 605.38 billion
2028: USD 638.47 billion
2029: USD 673.16 billion
By Product Revenue
- In 2023, the market revenue by product of healthcare devices was Cardiology devices (USD 67.76 billion), Dental devices (USD 21.04 billion), Diabetes Care devices (USD 26.09 billion), Diagnostic Imaging devices (USD 45.53 billion), Endoscopic devices (USD 28.16 billion), General and plastic Surgery devices (USD 26.57 billion), Ophthalmic devices (USD 39.84 billion), Orthopedic devices (USD 44.45 billion), and Other healthcare devices (USD 179.10 billion).
- As of 2024, cardiology devices had the highest revenue in the global healthcare devices industry, with USD 73.42 billion and a growth rate of 8.4%.
Revenue and revenue changes for other healthcare devices by products in 2024 and the upcoming years are described below:
| Year | Cardiology devices | Dental devices | Diabetes Care devices | Diagnostic Imaging devices | Endoscopic devices | General and Plastic Surgery devices | Ophthalmic devices | Orthopedic devices | Other healthcare devices |
| 2024 | USD 73.42 billion (8.4%) | US$23.02 billion (9.4%) | US$29.41 billion (12.7%) | US$47.65 billion (4.7%) | US$30.25 billion (7.4%) | US$27.84 billion (4.8%) | US$42.60 billion (6.9%) | US$46.74 billion (5.1%) | US$189 billion (5.5%) |
| 2025 | US$78.65 billion (7.1%) | US$25.09 billion (9%) | US$33.09 billion (12.5%) | US$49.97 billion (4.9%) | US$32.47 billion (7.3%) | US$29.32 billion (5.3%) | US$45.40 billion (6.6%) | US$48.94 billion (4.7%) | US$198.70 billion (5.1%) |
| 2026 | US$83.77 billion (6.5%) | US$27.27 billion (8.7%) | US$37.18 billion (12.4%) | US$52.30 billion (4.7%) | US$34.82 billion (7.3%) | US$30.96 billion (5.6%) | US$47.96 billion (5.6%) | US$51.07 billion (4.4%) | US$208 billion (4.7%) |
| 2027 | US$88.95 billion (6.2%) | US$29.56 billion (8.4%) | US$41.73 billion (12.2%) | US$54.62 billion (4.4%) | US$37.32 billion (7.2%) | US$32.72 billion (5.7%) | US$50.46 billion (5.2%) | US$53.12 billion (4%) | US$216.90 billion (4.3%) |
| 2028 | US$94.20 billion (5.9%) | US$31.96 billion (8.1%) | US$46.78 billion (12.1%) | US$56.92 billion (4.2%) | US$39.97 billion (7.1%) | US$34.62 billion (5.8%) | US$52.93 billion (4.9%) | US$55.09 billion (3.7%) | US$226 billion (4.2%) |
| 2029 | US$99.66 billion (5.8%) | US$34.49 billion (7.9%) | US$52.34 billion (11.9%) | US$59.25 billion (4.1%) | US$42.77 billion (7%) | US$36.66 billion (5.9%) | US$55.47 billion (4.8%) | US$57.02 billion (3.5%) | US$235.50 billion (4.2%) |
(Source: statista.com)
By Country Revenue
- As per Health Care Devices Statistics, the United States of America will make the highest revenue, around USD 179.80 billion.
- Meanwhile, other countries revenue accounted by health care devices in 2024 are followed by Germany (USD 34.95 billion), Japan (USD 29.24 billion), United Kingdom (USD 18.58 billion), and Spain (USD 8.90 billion).
By Region
(Reference: media.market.us)
North America
- North America dominates the market with a 40% share.
- The market size in this region was USD 165.33 billion in 2023 and will reach USD 204.36 billion by 2028.
- There is a high adoption rate of advanced medical devices, with approximately 80% of healthcare facilities using some form of AI technology.
Latin America
- This region generated USD 42.89 billion in revenue in 2023.
- The market size is expected to grow to USD 56.84 billion by 2028, with a CAGR of 5.79%.
Europe
- Europe holds a 30% market share, which was recorded to be USD 42.89 billion in 2023.
- The revenue is supposed to be USD 178.15 billion by 2028, with a CAGR of 4.09% from 2023 to 2028.
- Around 70% of hospitals use advanced diagnostic imaging technologies, while 50% of surgeries employ minimally invasive devices.
APAC
- Asia-Pacific is the fastest-growing region, with a total value of USD 111.93 billion in 2023 and an expected value of USD 157.19 billion in 2028, at a CAGR of 6.8%.
- Over 60% of urban hospitals have adopted telehealth technologies, and 40% of rural healthcare centers are equipped with portable diagnostic devices.
United States Market Size Of Healthcare Devices
(Source: precedenceresearch.com)
- The market size of healthcare devices in the United States of America was USD 150.97 billion in 2023 and is predicted to be USD 158.82 billion by the end of 2024.
- Additionally, the total revenue earned (billion) from medical devices in the U.S.: 2025 (USD 167.23), 2026 (USD 176.26), 2027 (USD 185.97), 2028 (USD 196.37), 2029 (USD 207.57), 2030 (USD 219.60), 2031 (USD 232.56), and 2032 (USD 246.51).
Top 5 Health Care Devices Companies By Revenue
- In the United States of America, UnitedHealth Group will be the largest healthcare company in 2024, with a revenue of USD 371.6 billion.
- Additionally, the other largest healthcare companies by revenue are CVS Health (USD 357.8 billion), McKesson (USD 301.5 billion), Cencora (USD 271.6 billion), Cardinal Health (USD 216.2 billion), Cigna (USD 195.3 billion), Elevance Health (USD 170 billion), Centene (USD 154 billion), HCA Healthcare (USD 65 billion), and Molina Healthcare (USD 34 billion).
(Reference: xtalks.com)
- Health Care Devices Statistics 2023, the top five medical device companies by accounted revenue were Medtronic (USD 31.69 billion), Abbott Laboratories Medical Devices and Diagnostics (USD 31.27 billion), Johnson & Johnson MedTech (USD 27.43 billion), Siemens Healthineers (USD 22.83 billion), and Fresenius Medical Care (USD 20.40 billion).
- Moreover, revenue generated by other medical devices is USD 18.87 billion: Becton, Dickinson & Company (USD 18.87 billion), Phillips Healthcare (USD 18.75 billion), Roche Diagnostics (USD 18.64 billion), Stryker (USD 18.45 billion), and GE Healthcare (USD 18.34 billion).
By Types
Diagnostic Devices
- Diagnostic Devices hold the largest market share at 35%, driven by the rising demand for early disease detection.
- More than 70% of global hospitals are currently using diagnostic imaging devices such as MRI and CT scanners.
- Point-of-care diagnostic devices are used by 50% of primary care providers for immediate results.
Therapeutic Devices
- Across the world, the therapeutic devices hold a 30% share.
- 40% of diabetes patients in developed countries use insulin pumps and continuous glucose monitors (CGMs).
- Meanwhile, implantable cardiac devices are used in approximately 20% of patients with severe heart conditions.
Monitoring Devices
- Monitoring devices represent 25% of the market share.
- Remote patient monitoring devices are used by 60% of patients with chronic illnesses in developed regions.
- 30% of the adult population in North America and Europe uses wearable health devices, such as smartwatches.
Wearable Technology
- Health Care Devices Statistics 2024, the market for wearables is expected to hit USD 54 billion, a 15% increase from 2023.
- Fitness trackers are worn by 25% of the global population, with higher penetration in urban areas.
- 10% of the population in developed countries uses advanced health monitoring wearables (e.g., those with ECG and SpO2 sensors).
Telehealth Devices
- The use of telehealth devices has surged, with a market value projected at USD 50 billion in 2024, growing at a rate of 20%.
- Telehealth services, supported by telehealth devices, are used by 70% of healthcare providers in the United States for virtual consultations.
- Around 50% of rural patients in developing countries have accessed telehealth services at least once.
3D Printing In Healthcare
- The application of 3D printing in the healthcare market will reach USD 4.5 billion in 2024, with a 17% growth rate.
- 3D-printed prosthetics are used by 20% of amputees.
- Customized implants and surgical guides made with 3D printing are used in 15% of orthopedic surgeries globally.
AI And Robotics In Healthcare
- AI in healthcare devices is predicted to reach USD 34 billion by the end of 2024, with a 25% CAGR.
- AI-powered diagnostic tools are used in 40% of radiology departments globally.
- In developed regions, surgical robots are utilized in 25% of major hospitals.
AI In Health Care Devices
(Source: dfifnluhfzgk8.cloudfront.net)
- As mentioned in Health Care Devices Statistics, in 2023, around 37% of healthcare leaders used Artificial Intelligence (AI) to optimize operational efficiency.
- Only to integrate medical diagnostics, 32% of healthcare device industries used AI.
- On the other hand, 39% of healthcare devices use AI to predict medical outcomes, and another 39% use it for clinical decision support.
By In-Vitro Diagnostics Market
(Reference: media.market.us)
- The total revenue accounted for by the In-Vitro Diagnostics market in 2023 was around USD 95 billion, and it will reach USD 98.5 billion in 2024.
- The positive growth trend extends in the coming years: 2025 (USD 101.9 billion), 2026 (USD 105.4 billion), 2027 (USD 108.8 billion), 2028 (USD 112.1 billion), 2029 (USD 115.4 billion), and 2030 (USD 118.6 billion).
Surgical Devices Market Statistics
(Source: factmr.com)
- As mentioned in Health Care Devices Statistics, the market for surgical equipment was around USD 16.7 billion in 2023, and it will be USD 18.37 billion by 2024.
- By the end of 2033, the market size will grow to USD 38.1 billion, with a market growth rate of 8.6% CAGR from 2023 to 2033.
- The surgical sutures and staplers segment had the largest market share, 44.9%.
- The North American region was dominating across the global surgical equipment market in 2023, accounting for 39.06%.
Top 10 Impacts Of Health Care Devices Statistics
(Source: startus-insights.com)
- Health Care Devices Statistics 2023: Around 21% of wearables, such as ECG monitors, biopatches, smart glasses, psychological monitoring devices, etc., have impacted the healthcare devices market.
- Furthermore, other impacts of the healthcare device industries are medical robots (18%), immersive technologies (15%), 3D printing (11%), the Internet of Medical Things (10%), Artificial Intelligence (8%), Cybersecurity (5%), Minimally innovative devices (4%), Medical Waste Management (4%), and 5G (4%).
Conclusion
The healthcare devices market in 2024 demonstrates robust growth, achieves significant technological advancements, and emphasizes personalized patient care. Companies are launching new products and evolving existing technologies to provide enhanced diagnostic, therapeutic, and monitoring solutions. These advancements highlight the market’s dynamic nature and reinforce its pivotal role in driving global healthcare forward.
Sources
Pramod Pawar
Pramod Pawar brings over a decade of SEO expertise to his role as the co-founder of 11Press and Prudour Market Research firm. A B.E. IT graduate from Shivaji University, Pramod has honed his skills in analyzing and writing about statistics pertinent to technology and science. His deep understanding of digital strategies enhances the impactful insights he provides through his work. Outside of his professional endeavors, Pramod enjoys playing cricket and delving into books across various genres, enriching his knowledge and staying inspired. His diverse experiences and interests fuel his innovative approach to statistical research and content creation.
