The medical device industry stands at the forefront of healthcare innovation, playing a critical role in diagnosing, monitoring, and treating a wide array of medical conditions. From wearable health trackers and diagnostic imaging systems to surgical robots and life-saving implants, medical devices are transforming the way healthcare is delivered around the world.
In 2024, the global market for medical devices is valued at an estimated $810.4 billion, reflecting growing demand driven by technological advancements, aging populations, and rising chronic disease prevalence. This momentum is expected to continue, with the market projected to reach an impressive $1.3 trillion by the end of 2029, expanding at a compound annual growth rate (CAGR) of 9.8% from 2024 through 2029.
This blog highlights the latest Medical Devices reports published by BCC Research in 2024.
With more people living longer, elder care is a booming field. In 2024, the elder care services and assistive devices market stands at $868.2 billion, projected to reach $1.1 trillion by 2029 at a CAGR of 5.8%.
As global populations age, the demand for elder care services and assistive devices is rising. From smart beds to mobility aids and fall detection wearables, technology is helping seniors live more independently and with dignity. This market is not only about care — it’s about quality of life.