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• Medical Device
• Europe Medical Devices Market

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Europe Medical Devices Market Size, Share & COVID-19 Impact Analysis, By Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging Devices, In-vitro Diagnostics, Minimally Invasive Surgery Devices, Wound Management, Diabetes Care Devices, Ophthalmic Devices, Nephrology Devices, Dental Devices, and Others), By End User (Hospitals & Ambulatory Surgery Centers (ASCs), Clinics, and Others), and Regional Forecast, 2023-2030

Last Updated: November 25, 2024 | Format: PDF | Report ID: FBI107576

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• Methodology
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KEY MARKET INSIGHTS

Europe is the second largest region in the global medical devices market. It is projected to grow at a CAGR of 4.5% during the forecast period. The global market for medical devices is projected to grow from USD 512.29 billion in 2022 to USD 799.67 billion by 2030.

The European medical device market is competitive due to increasing small and medium-sized enterprises, supportive regulatory framework, development of innovative products, and rising adoption of these devices. For instance, according to European Commission, currently, there are over 500,000 types of medical devices and in-vitro diagnostics (IVDs) in the European market. The factors mentioned above create a need for smooth framework ensuring the flawless functioning of the internal market and the overall market is oriented toward product diversification.

Our report on the Europe medical devices market covers the following countries/regions – U.K., Germany, France, Italy, Spain, and the rest of Europe.

LATEST TRENDS

Significant Expenditure on Medical Technology leading to Increasing Number of Patents 

The recent industry trends show an emerging interest in developing innovative medical devices , thereby investing a huge amount in the medical technology sector. For instance, according to a report published by Medtech Europe in 2022, the region spends approximately 11% of its GDP on the healthcare system, of which the medical device industry captures 7.6%. However, the expenditure varies significantly across European countries, ranging from around 5% to 12% of the total healthcare expenditure.

The increasing expenditure fueled innovation in the region, leading to more than 15,300 patent application filings with the European Patent Office (EPO) in the field of medical technology in 2021. The medical technology field accounts for 8.1% of the total number of applications, the 2 nd highest among all

European industrial sectors. Thus, increasing expenditure encourages the key players to introduce innovative products, which is anticipated to propel the Europe medical devices market growth during the forecast period.

DRIVING FACTORS

Rising Number of SMEs to Accelerate Technological Breakthroughs

The industry in Europe is one of the most diverse and innovative sectors, which is anticipated to grow further due to growing trade flows, a rising number of patents filed by MedTech companies, a high rate of employment and retention in this sector, and improving the healthcare system in Europe.

• For instance, according to data published in 2022 by MedTech Europe, a European trade association, more than 34,000 MedTech companies in Europe invest heavily in improving and developing new technologies. Among these companies, 95% are SMEs driving economic growth and trade activities in Europe, leading to overall market growth in the region.

RESTRAINING FACTORS

Slow Translation of Research into Clinical Practice May Delay Product Adoption and Limit Market Growth

Despite rising innovation and new product developments, European medical professionals are bound to use conventional methods. Artificial intelligence has become a significant part of medical technology. However, its approval guidelines are still unclear and limiting medical professionals from using technologically advanced products leads to delays and healthcare access at the patient level.

• For instance, according to an article published in December 2022 by Rinjstate Hospital, Netherlands, Europe's health professionals are ready to adopt efficient AI solutions. However, owing to the slow translation of research activity into clinical practice, they are not yet implemented in clinical practice. Also, the AI tool lacks appropriate approvals and cannot be used clinically. Moreover, current regulatory scenarios do not allow any tool to access hospital data and learn through it. As the tool gets access approval, the database gets locked, which is a major contradiction that needs to be addressed.

The factors mentioned above limit healthcare technology adoption in Europe and the region's market growth.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the Europe medical devices market share is majorly captured by Medtronic, Siemens Healthcare GmbH, and Koninklijke Philips N.V. The significant share is attributed to their active involvement in R&D investments leading to product approvals, strong product offerings, and product launches.

Due to their strong distribution network and diverse product portfolio indications, Fresenius Medical Care AG & Co. KgaA and Smith+Nephew are anticipated to lead the market during the forecast period. Other major players are Getinge AB, Drägerwerk AG & Co. KgaA, and others. These companies focus on strengthening their distribution network and product portfolio through strategic partnerships and collaborations to increase their market share in Europe.

LIST OF KEY COMPANIES PROFILED:

• Koninklijke Philips N.V. (Netherlands)
• Fresenius Medical Care AG & Co. KgaA (Germany)
• Siemens Healthcare GmbH (Germany)
• B. Braun SE (Germany)
• Smith+Nephew (U.K.)
• Getinge AB (Sweden)
• Drägerwerk AG & Co. KgaA (Germany)
• Medtronic (Ireland)
• Stryker (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2022: Getinge AB signed an agreement to acquire 100% shares in FLUOPTICS SAS, a French company in fluorescence imaging, to aid surgery. The acquisition aimed to expand Getinge's customer offering in clinical decision support by providing safe and improved operating efficiency.
• June 2022: Smith+Nephew announced the investment of USD 100 million to build a new manufacturing and R&D facility for its Advanced Wound Management franchise on the outskirts of Hull, U.K. A grant from the U.K. Government supported the development.
• April 2022: Medtronic plc announced the reimbursement for MiniMed 780G, an advanced insulin delivery system, had been expanded across two more countries in Europe, including Germany and France.

REPORT COVERAGE

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The research report provides qualitative and quantitative insights into the market and a detailed analysis of the Europe market size & growth rate for all possible segments in the market. Along with the market size, forecast, the research report elaborates on the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the number of procedures, an overview of price analysis of types of products, an overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.

Report Scope & Segmentation

Frequently asked questions.

Growing at a CAGR of 4.5%, the market will exhibit steady growth in the forecast period (2023-2030).

Rising medical technology expenditure and the number of SMEs introducing innovative products are the major factors driving the market growth.

Koninklijke Philips N.V, Fresenius Medical Care AG & Co. KgaA, Siemens Healthcare GmbH, and B. Braun SE are the major players in the Europe market.

Germany dominated the market in 2022.

• PUBLISHED ON: May, 2023
• STUDY PERIOD: 2019-2030
• BASE YEAR: 2022
• HISTORICAL DATA: 2019-2021
• NO OF PAGES: 166

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Europe is the second largest region in the global medical devices market & is projected to grow at a CAGR of 4.5% during the forecast period

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Medical Technology

European medical technology industry - statistics & facts

Medtech revenues in europe, digital health trend, key insights.

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Exports of medical technology in Europe in 2023, by country

Medical device trade balance in Europe 2023, by country

Leading European medical technology export destinations 2023

Editor’s Picks Editor’s Picks Current statistics on this topic

Industry & Market

Medical device market share based on manufacturer prices in Europe 2023

Medical device annual market growth in Europe 2009-2023

Number of patents granted in medical technology in Europe 2009-2023

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Distribution of the global revenue of medical technology industry in 2021, by region

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Medical devices market value in Europe 2021-2027

Annual value of the medical devices market in Europe from 2021 to 2027 (in billion U.S. dollars)

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Number of individuals employed in the medical technology industry in selected countries in Europe in 2022

Employment rate in the medical technology sector in Europe in 2023

Number of individuals employed in the medical technology industry in selected European countries in 2023 (per 10,000 inhabitants)

Company share in the IVD market Europe 2022

Distribution of company market share in the in vitro diagnostics market in Europe in 2022

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Distribution of the wearable healthcare devices market in Europe in 2023, by country

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Leading export destinations of European medical technology devices as a share of exports in 2023

Exports of medical technology in Europe in 2023, by country (in million euros)

Imports of medical technology in Europe in 2023, by country

Imports of medical technology in Europe in 2023, by country (in million euros)

Medical device trade balance in selected European countries in 2023 (in million euros)

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In vitro diagnostics (IVD) market size per capita in Europe 2021

In vitro diagnostics (IVD) market size per capita in Europe in 2021, by country (expenditure in euros per person)

Digital health

• Premium Statistic Electronic health record implementation in Europe in 2022
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Electronic health record implementation in Europe in 2022

State of electronic health record (EHR) implementation and legislation in Europe as of 2022, by region

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Level of maturity of telehealth services offered in Europe as of 2022

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Share of countries that reported utilizing the following uses of telehealth and policies in Europe as of 2022

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Share of countries who reported the following uses for their national digital health portals in Europe in 2022

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Number of European patent applications in medical technology from 2009 to 2023

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Number of European patent applications in medical technology in 2023, by country of origin

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Number of European patents granted in medical technology 2023, by country

Number of European patents granted in medical technology in 2023, by country of origin

Number of biotechnology patents in Europe 2021

Estimated number of patents in the biotechnology sector in Europe in 2021, by country

Patent applications filed with the EPO in 2023, by technical field

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