According to Cognitive Market Research, the global Medical Equipment market size is USD 63581.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 25432.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 19074.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 14623.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.0% from 2024 to 2031.
Latin America holds the market of more than 5% of the global revenue with a market size of USD 3179.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.
Middle East and Africa held the market of around 2% of the global revenue with a market size of USD 1271.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.
The fastest-growing category in the Medical Equipment Market is Diagnostic Imaging, which includes devices used to create images of the body's internal structures for diagnosis and treatment planning.
