Market Insights Health Medical Technology Medical Devices

Other Medical Devices - France

France

The projected revenue for the Other Medical Devices market market in France is estimated to be €4.95bn by 2024.
There is an expected annual growth rate (CAGR 2024-2029) of 2.64%, which will lead to a market volume of €5.64bn by 2029.
When compared globally, the United States is forecasted to generate the highest revenue, reaching €54,620.00m in 2024.
France is at the forefront of innovation in the Other Medical Devices market, with a strong emphasis on research and development.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

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Analyst Opinion

The Other Medical Devices market in France is experiencing significant growth due to various factors.

Customer preferences: Customers in France are increasingly opting for advanced medical devices that offer improved accuracy, efficiency, and convenience. They are seeking devices that can assist in the diagnosis, treatment, and monitoring of various medical conditions. Additionally, there is a growing demand for non-invasive and minimally invasive medical devices that reduce patient discomfort and recovery time.

Trends in the market: One of the key trends in the Other Medical Devices market in France is the adoption of digital health technologies. This includes the integration of medical devices with digital platforms, allowing for remote monitoring and telehealth services. The COVID-19 pandemic has further accelerated this trend, as healthcare providers and patients are increasingly relying on telemedicine solutions. This has led to a surge in demand for connected medical devices such as wearable health trackers, remote patient monitoring devices, and telehealth platforms. Another trend in the market is the increasing focus on personalized medicine. Advances in genetic testing and molecular diagnostics have paved the way for targeted therapies and personalized treatment plans. As a result, there is a growing demand for medical devices that can support these personalized approaches, such as genetic testing kits, point-of-care diagnostic devices, and precision surgical instruments.

Local special circumstances: France has a well-established healthcare system with a strong emphasis on research and innovation. The country has a high number of medical device manufacturers and research institutions, which contributes to the development of cutting-edge medical devices. Additionally, the French government provides support for the healthcare sector through various initiatives and funding programs, further driving innovation in the market.

Underlying macroeconomic factors: The aging population in France is a significant driver for the Other Medical Devices market. As the population ages, there is an increased prevalence of chronic diseases and a higher demand for medical devices to manage these conditions. Furthermore, the government's focus on healthcare reforms and improving access to healthcare services has led to increased healthcare spending, creating a favorable environment for the growth of the medical devices market. In conclusion, the Other Medical Devices market in France is witnessing growth due to customer preferences for advanced and convenient medical devices, the adoption of digital health technologies, the focus on personalized medicine, the country's strong healthcare system and support for innovation, and the aging population. These factors, along with favorable macroeconomic conditions, are driving the development and adoption of medical devices in the French market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.