The US Medical Devices Market is poised to surge to over $200 Bn by 2027 owing to 5G Tech & fashion trends picking up pace. Will projections justify the growth rate? : Ken Research

1. “Technology to be the way ahead:” Technological trends are going to take up a huge space in the US Medical device market in the long run.

Technological Trends in US Medical Device Market

Going with the trends, US Medical Device market has come a long way in implementing technology in its infrastructure. The future too seems to move forward in the same way. Trends such as cybersecurity, 5G Technology, AI & Machine learning are going to witness advancement & further implementation in the medical device market in US. Moreover, the technological aspect is anticipated to not only benefit the US market but also help in the humanitarian assistance provided by the country around the world. For instance, the U.S. government is working with AdvaMed and its member companies on medical technology equipment and supply donations for humanitarian aid and recovery after the devastating earthquakes in southeast Turkey and northern Syria. All in all, the market is poised for a robust growth in the upcoming years.

2. “Fashion trends to witness partnership with healthcare:” Rising demand for cosmetic surgeries are expected to benefit the medical device industry trends.

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Cosmetic surgery trends are experiencing an upsurge as a result of Hollywood fashion trends & influencers witnessing a peak in the recent years. The industry is expected to have a positive impact on the medical device market in US in the upcoming years. With cosmetic procedure industry growing at a CAGR of 7%, more devices will be demanded as a result of which the market will be growing steadily. According to The Aesthetic Surgery Society, surgical procedures increased by 54% in the U.S. alone in 2021. In Canada, the leading cosmetic surgery procedures are botox and rhinoplasty with over 18,100 and 10000 searches on the procedures, respectively.

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