Medical Devices

Report: Cardiology, in vitro diagnostics to lead medtech market

In vitro diagnostics will be the biggest growth sector in medtech sales, according to a new report from EvaluateMedTech. The data, released at this week’s AdvaMed 2015 conference in San Diego, paints a rosier picture of the medical device industry than many other reports of late – shining some optimism on the broader global market. Here are some top-line trends:

The world medtech sales forecast is projected to hit $477.5 billion by 2020. It’ll grow more slowly than the pharma sector – which is projected to have a CAGR of 4.9 percent. Medtech has a projected CAGR of 4.1 percent between 2014 and 2020. Similarly, the worldwide medtech R&D spend is expected to grow at least by 3.5 percent by 2020, reaching $29.5 billion.

Here’s how it’s projected to play out, in terms of device areas:

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Indeed, as precision medicine zooms ahead, it makes rational sense that the growth rate corresponds accordingly:

evaluate medtech

Johnson & Johnson leads the pack in terms of device sales, followed by Medtronic and Siemens:

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The industry is dominated by a small number of larger players, as seen here:

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And as expected, pharmaceutical sales will dominate medtech in life science industry sales:

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