Driven by a combination of robust R&D infrastructure, a strong regulatory framework, and significant investment from both private and public sectors, the US stands at the crossroads of healthcare innovation with a booming medical device sector that is poised for growth.
According to a report by Business Fortune Insights, the country’s medical devices market is anticipated to grow to $291 billion by 2030. This marks a CAGR of 6.1 per cent, up from $192.78 billion in 2023 during the forecast period. A key driver of the industry’s growth is the continuous demand for improved healthcare solutions due to an ageing population and the prevalence of chronic diseases.
Companies in this field are heavily investing in developing cutting-edge technologies such as wearable health monitors, minimally invasive surgical devices, and AI-driven diagnostic tools. This phenomenon also plays a role in creating high-quality opportunities, which support nearly two million jobs, directly and indirectly.
