United States (USA) Therapeutic Device Market Overview, 2028

The therapeutic device market in the United States has experienced incredible expansion and innovation, completely changing the healthcare industry. Technological developments and the increasing focus on personalised treatment have thrust this industry into a state of constant innovation and evolution. The evolution of the market involves not only the introduction of new gadgets but also the improvement of existing ones to make them more patient-centric. For instance, wearable technology is developing and getting more advanced, making it easier for people to effortlessly check their health metrics. By monitoring vital signs, exercise, sleep habits, and other factors, these gadgets enable people to take proactive steps for their own well-being. The incorporation of machine learning and artificial intelligence (AI) into medical equipment has revolutionised the field. Large-scale patient data is analysed by AI-powered algorithms, which offer insights and predictive analytics for improved treatment outcomes. By facilitating earlier diagnosis, more individualised treatment regimens, and more accurate therapies, these technologies greatly enhance patient care while cutting expenses. There is a trend in the United Therapeutic Device Market towards greater cost and accessibility. The goal of manufacturers is to provide affordable gadgets without sacrificing usefulness or quality. The goal of this affordability movement is to guarantee that advanced medical technology is available to a wider range of people, regardless of their financial situation. Medical device innovation is centred in the United States. Significant developments in therapeutic devices are made possible by the nation's thriving ecosystem of research institutes, universities, and tech enterprises. This invention is heavily influenced by Silicon Valley, Boston, and other tech hotspots. An important part of approving and regulating therapeutic devices is the Food and Drug Administration (FDA). Building consumer trust, the FDA's strict yet open regulatory approach guarantees that products meet safety and efficacy requirements prior to going on sale.

According to the research report "United States Therapeutic Device Market Overview, 2028," published by Bonafide Research, the United States Therapeutic Device market was valued more than USD 25 Billion in 2022. The U.S. is a leader in the rapid advancement of therapeutic devices through the application of advanced technologies such as artificial intelligence (AI), robotics, nanotechnology, and the Internet of Things. Precision, efficacy, and patient outcomes are all enhanced by these improvements. The medical device business has a flourishing start-up culture in the United States. Innovation in healthcare is being propelled by a multitude of small and medium-sized firms (SMEs) and start-ups that are proposing disruptive technology and creative solutions for a range of problems. In order to facilitate remote monitoring, consultations, and data collection, the United States is progressively incorporating telemedicine with medicinal technologies, for patients who live in rural or underdeveloped areas in particular, this integration improves accessibility to healthcare services. Therapeutic device market dynamics are influenced by ongoing healthcare changes and legislation, including the Affordable Care Act (ACA) and conversations about healthcare affordability. The evolving regulatory landscape influences market dynamics and access to innovative devices. There are over 15,000 medical device companies in the United States producing therapeutic device. In the area of medical device research and development, the US is a prominent hub. Numerous prestigious universities and research centres in the nation are committed to creating cutting-edge medical technologies. One of the biggest markets for medical products is the US. The nation's sizable and well-off populace offers a robust market for cutting-edge medical innovations.

Based on product market is segmented into insulin delivery devices, dialysis equipments, IV equipments, wound care management, and others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids). Among them wound care management products is propelling the United States therapeutic device market. The number of digital health platforms connecting with therapeutic devices is rising in the United States. These platforms gather and examine data from a range of devices, providing patients and healthcare professionals with thorough insights that promote proactive healthcare management. Numerous people in the United States struggle with pressure ulcers, venous stasis ulcers, and diabetic ulcers, among other chronic sores. The need for enhanced wound care products to effectively control and treat these disorders is driven by their prevalence. Diabetes and obesity are two of the most common health issues in the United States. They can lead to problems like poor wound healing and diabetic foot ulcers. The market is expanding because of the demand for specialised wound care solutions to treat these issues. The management of wounds in outpatient settings is becoming more popular. Wound care products that are easy to use and effective are in high demand because patients choose treatments that enable them to maintain their wounds at home or through outpatient facilities. Innovative wound care solutions that encourage tissue regeneration and hasten the healing process have been developed as a result of the advancement of regenerative medicine and biotechnology, which has fueled market expansion. A strong ecosystem that supports research and development, along with the FDA's support for cutting-edge wound care products, motivates businesses to invest in creating cutting-edge wound management solutions.

Based on end user market is bifurcated into hospitals and clinics, home care settings, ambulatory care centers (ACCs) and other end user. Hospitals and clinics are major end users of therapeutic device in United States and is expected to lead the United States therapeutic device market as well. Primary healthcare facilities that address a broad range of medical requirements are hospitals and clinics. In order to offer patients complete care, they need a wide range of therapeutic devices from different specialties, such as neurology, orthopaedics, cardiology, and wound care. These facilities perform a wide range of cutting-edge medical treatments and procedures that call for the use of therapeutic gadgets. Hospitals and clinics depend significantly on therapeutic devices to provide efficient treatments, ranging from surgical implants to diagnostic tools and rehabilitation equipment. In the US, a large number of hospitals and university medical facilities serve as hubs for medical innovation and research. Their position in the market is largely due to their active participation in clinical trials, research collaborations, and the creation of innovative therapeutic devices. Based on indication market is majorly divided into wound care, diabetes, respiratory diseases, cardiovascular disorders & hypertension, cancer, pregnancy, hearing disorders, movement disorders and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Wound care indication is major user of therapeutic devices and is playing crucial role in development of United States therapeutic devices market.

Considered in this report:
• Geography: United States
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028



Aspects covered in this report:
• United States Therapeutic Device market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Insulin Delivery Devices
• Dialysis Equipments
• IV Equipments
• Wound Care Management
• Others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids)

By End User:
• Hospitals and Clinics
• Home Care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication:
• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.