Global medical device industry to 2024

Departments - Medical Infographic

Medtech industry is projected to grow at a compound annual growth rate (CAGR) of 5.6% to $595 billion by 2024.

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February 1, 2019


Top 10 device areas by sales

  1. In vitro diagnostics
  2. Cardiology
  3. Diagnostic imaging
  4. Orthopedics
  5. Ophthalmics
  6. General and plastic surgery
  7. Endoscopy
  8. Drug delivery
  9. Dental
  10. Diabetes care

2024 Projections

In vitro diagnostics

Remain #1; annual sales to $79.6 billion; 13.4% industry share

Neurology

Fastest-growing device specialty; sales to $15.8 billion; expanding at 9.1% CAGR

Slowest-growing segments

Diagnostic imaging

Orthopedics

CAGR of 3.7% between 2017 and 2024

Largest medtech company by 2017 sales

#1 MEDTRONIC – $29.7 BILLION; FORECAST OF $38.9 BILLION IN 2024

#2 DePuy Synthes (Johnson & Johnson) – $26.6 billion

#3 Philips Healthcare – $20.7 billion

#4 Fresenius – $20.7 billion

#5 GE Healthcare – $19.1 billion

#6 Siemens Healthineers – $16.5 billion

#7 Cardinal Health – $13.5 billion

#8 Stryker – $12.4 billion

#9 Becton Dickinson – $12.1 billion

#10 Baxter – $10.6 billion

Source: Evaluate; Statista