A comprehensive new market analysis by GlobalData projects the global medical device industry will reach $800 billion by 2030, driven by AI diagnostics, robotic surgery, remote patient monitoring and demand from rapidly ageing populations in Asia.
GlobalData has published its annual Global Medical Device Industry Outlook 2030, projecting the market will grow from $512 billion in 2025 to $800 billion by 2030, a compound annual growth rate (CAGR) of 8.4%.
Key Growth Drivers
- AI-integrated diagnostics (imaging, pathology, genomics): projected $120B segment by 2030
- Surgical robotics: growing at 18% CAGR, reaching $55B
- Remote patient monitoring (RPM): $45B, driven by post-COVID telehealth adoption
- Diabetes management (CGM, AID systems): $28B by 2030
- Cardiovascular devices: $85B, led by structural heart and EP
Regional Outlook
Asia-Pacific is the fastest-growing region at 11.2% CAGR, with China, India and Southeast Asia driving volume growth as middle-class healthcare access expands. North America retains the largest absolute market at $280B by 2030.
India's medical device market is projected to grow from $12B in 2025 to $30B by 2030, supported by PLI scheme incentives and increasing domestic manufacturing capability.
The report notes that regulatory harmonisation under the IMDRF framework is reducing time-to-market for Class II devices across 30 participating nations.