New Zealand Medical Device Market Size | 2019-2033

New Zealand Medical Device Market Growth and Performance

• The New Zealand medical device market saw a XX.5% increase in 2024 reaching a value of US$ X.40 Billion.
• This market in New Zealand is projected to register a CAGR of XX.3% from 2025 to 2033, resulting in a forecasted market value of US$ X.08 Billion by the end of 2033.
• When analysed at a segmental level, in the medical device market in New Zealand the XX market segment generated the highest revenue in 2024.

New Zealand Medical Device Market Outlook

New Zealand has a rapidly evolving medical technology industry, encompassing a diverse range of medical devices, in-vitro diagnostics, dental equipment, and medical imaging solutions. The country is home to a mix of innovative domestic manufacturers and international medical technology firms that contribute to its expanding healthcare landscape. Many local companies have pioneered breakthrough medical technologies, such as neonatal cooling caps, heated humidification systems, orthopedic implants, and patient monitoring systems.

With an increasing focus on advanced healthcare solutions, the New Zealand medical device market is experiencing steady growth. The expansion of cancer screening programs is fueling demand for diagnostic imaging equipment, while the rise of private healthcare facilities is driving growth in consumables, orthopedic devices, and surgical instruments. However, limited funding for digital health initiatives and the lack of new strategic investments could hinder the adoption of technology-driven medical solutions. Moreover, the sector’s dependence on imports and a relatively small domestic manufacturing base may create challenges, especially in times of currency fluctuations and changing demand patterns.

Key Trends in the New Zealand Medical Device Market

Rising Demand for Medical and Surgical Equipment

Medical and surgical equipment remain essential to healthcare operations, with sales supported by government funding and private sector investments. The rising demand for minimally invasive surgical instruments and patient monitoring solutions is contributing to the market's steady growth.

The Role of Bay of Plenty in Medical Technology Trade

New Zealand’s Bay of Plenty region has emerged as a crucial hub for medical device manufacturing and trade. With access to major international trade ports, the region attracts manufacturers looking to optimize supply chain efficiencies by streamlining imports and exports of medical technology products.

Import Competition and Market Constraints

While New Zealand has a strong foundation in medical innovation, the industry faces increasing competition from imported medical devices. A depreciating New Zealand dollar has tempered the impact of foreign competition, but imports continue to capture a growing share of domestic demand. Additionally, the country’s reliance on imported medical technology may create vulnerabilities in the supply chain during global market disruptions.

Aging Population Driving Demand for Home Healthcare Devices

As New Zealand’s population ages, there is a growing preference for home-based healthcare solutions. Governments worldwide are increasing investments in home medical equipment to support aging populations, presenting opportunities for manufacturers to expand their offerings in wearable health devices, remote patient monitoring systems, and assistive technologies.

Government Support for Innovation in Medical Technology

In December 2023, Callaghan Innovation introduced the inaugural Arohia Innovation Trailblazer Grant, aimed at fostering groundbreaking medical technologies. Among the first eight recipients, three companies—Wellumio, Alimetry, and Kitea Health—are revolutionizing the medical technology sector with innovative solutions in areas such as digital health, implantable medical devices, and wearable monitoring technologies. These initiatives highlight New Zealand’s commitment to advancing its medical device ecosystem through strategic investments in research and commercialization.

Competitive Landscape of the New Zealand Medical Device Industry

New Zealand’s medical device sector is characterized by a blend of established companies and emerging innovators, each contributing to advancements in healthcare technology. Industry leaders such as Fisher & Paykel Healthcare, MedTech Global, and Aroa Biosurgery have made significant strides in medical innovation, with a strong presence in international markets. These companies are continuously developing solutions for respiratory care, wound management, and digital health applications.

Additionally, a growing number of startups are entering the market with cutting-edge solutions, including AI-powered implantable devices, wearable biosensors, and next-generation diagnostic tools. These innovations are paving the way for improved patient outcomes and more efficient healthcare delivery. With continued support from government programs and venture capital funding, the New Zealand medical device landscape is set to evolve further in the coming years.