US Medical Devices Market Size to be worth US$ 255.14 Bn by 2029
The US Medical Devices Market Size was USD 177.06 billion in 2021. The market is projected to grow from USD 174.69 billion in 2022 to USD 255.14 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period. The increasing prevalence of a chronic lifestyle and the robust demand for advanced medical devices are likely to elevate the industry’s progress. Fortune Business Insights™ mentions this in its report titled “US Medical Devices Market, 2022-2029.”
Medical devices have witnessed significant developments in the last decade regarding implementing new technologies and modifications in design and other parameters. However, the overall cost of ownership of these devices is higher, which includes a comparatively higher acquisition cost and subsequent maintenance costs.
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