Medical Devices Reimbursement Market, By Payer (Public and Private), By Healthcare Setting (Hospitals and Outpatient Facilities), By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
REPORT HIGHLIGHT
Medical Devices Reimbursement Market size was valued at USD 460,700.1 Million in 2022, expanding at a CAGR of 10.8% from 2023 to 2030.
In the context of medical devices, reimbursement refers to the payment made to a healthcare practitioner by a public or private insurer or \"payer\" in exchange for the expenses associated with using the devices or carrying out the operation. The term \"covered\" refers to a product that has been paid for.
Medical Devices Reimbursement Market- Market Dynamics
- The increasing prevalence of chronic disease drives the market growth
The growing prevalence of chronic diseases including cancer, diabetes, cardiovascular and others are expected to fuel the market expansion over the forecast period. For instance, globally, there were 17.0 million new instances of cancer and 9.5 million cancer-related deaths in 2018, according to estimates from the International Agency for Research on Cancer (IARC). Simply because of population expansion and age, it is anticipated that by 2040 there would be 16.3 million cancer deaths and 27.5 million new cancer cases worldwide. Due to the rising frequency of risk factors including smoking, poor food, physical inactivity, and fewer pregnancies in economically developing nations, the burden will likely grow in the future. In addition, according to the International Diabetes Federation, 783 million individuals, or one in eight, would have diabetes by 2045, a 46% rise. Thus, the aforementioned facts support the market growth over the projected period.
Medical Devices Reimbursement Market- Key Insights
- As per the analysis shared by our research analyst, the global Medical Devices Reimbursement market is estimated to grow annually at a CAGR of around 10.8% over the forecast period (2023-2030)
- The Medical Devices Reimbursement industry is projected to grow at a significant rate owing to the increasing prevalence of chronic disease
- Based on payer, the private segment is expected to dominate the market over the forecast period
- Based on the healthcare setting, the hospital segment is expected to hold a significant market share over the forecast period
- Based on region, North America is expected to dominate the market over the projected period
Medical Devices Reimbursement Market- Segmentation Analysis:
The Global Medical Devices Reimbursement Market is segmented based on Payer, Healthcare Setting, and Region.
Based on payer, the global Medical Devices Reimbursement market is segmented into public and private. The private segment is expected to dominate the market over the forecast period owing to the existence of a sizable private player base, the rise in the number of diabetic and cancer patients, and the growing need for improved treatment choices. On the other hand, the public segment is expected to capture a significant market portion over the analysis period. Public payers offer comprehensive services to businesses in the pharmaceutical and healthcare sectors. Because of the growing need for cost-effective operations and the rising incidence of chronic diseases throughout the world, public payers are becoming more and more in demand. The development of cutting-edge medical equipment and reimbursement infrastructure are two of the key drivers of the segment\'s growth, combined with an increase in the use of public payer services in established and emerging nations.
Based on the healthcare setting, the Medical Devices Reimbursement industry is segmented into hospitals, outpatient facilities and others. The hospital segment is expected to hold a significant market share over the forecast period. The need for medical device reimbursement in large-scale settings, including hospitals, is being driven by the rising prevalence of chronic diseases. Before being marketed to private institutions, many cutting-edge medical devices based on research are first tested at public hospitals. The private healthcare facilities keep a budget for purchases that includes money directly taken from patients for any excess funds. As a result, they have more cutting-edge medical equipment.
Medical Devices Reimbursement Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. This is proven by the rising prevalence of chronic diseases in this area. According to the Centers for Disease Control and Prevention (CDC), chronic diseases including diabetes, cancer, heart disease, and stroke are the main causes of mortality in the United States and impact six out of ten people. Additionally, there are more healthcare facilities in this area, which is helping the industry to expand.
Medical Devices Reimbursement Market- Competitive Landscape:
To launch technologically sophisticated goods and acquire a competitive edge, major firms are putting their attention on research and development. Medical device makers\' technical breakthroughs will be fueled by an increase in payment for medical devices. Long-term, this will make it possible for improved healthcare outcomes and more cost-effectiveness. To boost their profit margins, the manufacturers of medical devices are also engaging in consulting services for the creation of appropriate reimbursement applications for regulatory bodies. Due to reimbursement being the largest obstacle for medical device makers to secure coverage and lure risk-averse investors, this tendency is predicted to increase.
Recent Developments:
- In November 2022, the world\'s biggest worldwide team of regulatory and quality specialists, RQM+, the premier MedTech service provider, announced the opening of its reimbursement division. In addition to regulatory, quality, clinical, and laboratory services, RQM+ now offers extensive reimbursement services, facilitating market access for medical devices and diagnostics over their full product lifetime.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MEDICAL DEVICES REIMBURSEMENT MARKET KEY PLAYERS
- CVS Health
- Nippon Life Insurance
- Aviva
- WellCare Health Plans, Inc.
- Cigna
- Allianz
- Humana Inc.
- BNP Paribas
- UnitedHealth Group
- Anthem Insurance Companies, Inc.
GLOBAL MEDICAL DEVICES REIMBURSEMENT MARKET, BY PAYER
- Public
- Private
GLOBAL MEDICAL DEVICES REIMBURSEMENT MARKET, BY HEALTHCARE SETTING
- Hospitals
- Outpatient Facilities
- Others
GLOBAL MEDICAL DEVICES REIMBURSEMENT MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Medical Devices Reimbursement Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Medical Devices Reimbursement Market Snippet by Payer
2.1.2. Medical Devices Reimbursement Market Snippet by Healthcare Setting
2.1.3. Medical Devices Reimbursement Market Snippet by Country
2.1.4. Medical Devices Reimbursement Market Snippet by Region
2.2. Competitive Insights
3. Medical Devices Reimbursement Key Market Trends
3.1. Medical Devices Reimbursement Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Medical Devices Reimbursement Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Medical Devices Reimbursement Market Opportunities
3.4. Medical Devices Reimbursement Market Future Trends
4. Medical Devices Reimbursement Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Medical Devices Reimbursement Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Medical Devices Reimbursement Market Landscape
6.1. Medical Devices Reimbursement Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Medical Devices Reimbursement Market – By Payer
7.1. Overview
7.1.1. Segment Share Analysis, By Payer, 2022 & 2030 (%)
7.1.2. Public
7.1.3. Private
8. Medical Devices Reimbursement Market – By Healthcare Setting
8.1. Overview
8.1.1. Segment Share Analysis, By Healthcare Setting, 2022 & 2030 (%)
8.1.2. Hospitals
8.1.3. Outpatient Facilities
8.1.4. Others
9. Medical Devices Reimbursement Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Medical Devices Reimbursement Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Medical Devices Reimbursement Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.9.4. France Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Medical Devices Reimbursement Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.6.4. India Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.7.4. China Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Medical Devices Reimbursement Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Medical Devices Reimbursement Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Payer, 2018 - 2030 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By Healthcare Setting, 2018 - 2030 (US$ Million)
10. Key Vendor Analysis- Medical Devices Reimbursement Industry
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. CVS Health
10.2.2. Nippon Life Insurance
10.2.3. Aviva
10.2.4. WellCare Health Plans, Inc.
10.2.5. Cigna
10.2.6. Allianz
10.2.7. Humana Inc.
10.2.8. BNP Paribas
10.2.9. UnitedHealth Group
10.2.10. Anthem Insurance Companies, Inc.
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
