Emphasis on innovative medical devices will escalate the European medical device technology market

European medical device technology market is projected to grow at a significant CAGR of around 2.8% during the forecast period (2020-2026). In Europe, the developed economies, such as UK, Germany, spends a huge %age of GDP in the betterment of healthcare settings every year. It is considered as second largest medical device technology market, after North America. The domestic market players as well as the global market players are continuously focussing on the development of advanced technologies in the medical devices, such as devices equipped with sensors, automation, among others. There are several patents have been filed in the past decade regarding the advanced technologies in the medical devices.

Browse the full report description European Medical Device Technology Market Size, Share & Trends Analysis Report by Device Type (In Vitro Diagnostics Devices, Diagnostic Imaging Devices, Cardiology Devices, Ophthalmology Devices, Orthopedic Devices, and Others) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/europe-medical-device-technology-market

As per MedTech Europe, in 2016, around 12,200 patent applications were filed with the European Patent Office (EPO) in the field of medical technology, where around 7.7% of the total number of applications for medical device technology. This is still more than any other sector in Europe. Around 41.0% of these patent applications were filed from European countries (EU28, Switzerland, and Norway) and 59.0% from other countries. In comparison, around 5,700 applications were filed in the pharmaceutical field and around 5,700 also in the field of biotechnology. While over the last decade the number of EPO filings in the field of medical technology has doubled, pharma and biotech patent applications were relatively stagnant.

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in base year?
• Which segment/region will project fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?

o Recovery Timeline

o Deviation from pre-COVID 

o Most affected region/segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

European Medical Device Technology Market – Segmentation

By Product Type

• In Vitro Diagnostics Devices
• Diagnostic Imaging Devices
• Cardiology Devices
• Ophthalmology Devices
• Orthopedic Devices
• Others (Endoscopy Devices and Respiratory Care Devices)

European Medical Device Technology Market – Segmentation by Geography

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe