Report ID: UCMIR35J2136
Report ID:
UCMIR35J2136 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The U.S. medical devices market had a value of USD 184.61 billion in 2022 and is expected to experience significant growth, reaching USD 291.04 billion by 2030, with a projected compound annual growth rate (CAGR) of 6.1% during this period. This growth is driven in part by the substantial increase in the aging population within the United States. According to a demographic projection from the University of Washington in July 2021, it was estimated that nearly every other individual born in the U.S. at the turn of the 21st century will live to be 100 years old.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Life Sciences Tools & Services by segment aggregation, the contribution of the Life Sciences Tools & Services in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIR35J2136