EvaluatePharma’s EvaluateMedTech World Preview 2018 report provides top insights and analysis from the world’s financial markets, forecasting the expected performance of the Medical Device and Diagnostic industry between now and 2018.
The medical technology market is forecasted to grow at 4.4% per year between 2011 and 2018, to reach $440 billion, according to the EvaluateMedTech World Preview 2018. This growth will outpace the global prescription drug market, which is expected to grow 2.5% per year between 2011 and 2018.
The in vitro diagnostics sector is expected to be the world's largest medtech segment in 2018, with sales of $54.5 billion, beating cardiology and diagnostic imaging to the top spot. The fastest growing segment among the top device sectors is neurology, which is set to grow at 6.1% per year to $7.3 billion. Orthopedics is forecast to be the slowest growing segment, expanding 3.1% per year between 2011 and 2018.
“The medtech sector is diverse but tends to have clearer value propositions than the pharmaceutical sector when it comes to convincing payers to part with their cash,” states Anthony Raeside, head of research, EvaluatePharma. “Medtech will continue to benefit from emerging market investments that are lifting standards of care, while cost conscious developed markets will continue to invest in more efficient machines, systems and procedures, which offer less hospital time and better patient outcomes.”
In addition to assessing the overall growth of the medtech market, EvaluateMedTech World Preview 2018 also looks at key growth areas, performance of market leaders by segments and the performance of marketed and pipeline products by segments.
When it comes to global medtech sales, Johnson & Johnson will hold the top spot as the number one medtech company in 2018, with forecasted global medtech sales of $37.8 billion representing an 8.6% global market share. The company will also remain the top medtech R&D spender in 2018, with R&D expenditure forecast to reach $2.1 billion.
Roche looks to be the clear market leader within the in vitro diagnostics sector in 2018 with sales of $9.9 billion and an 18% market share.
Medtronic will remain the number one cardiology company with global sales of $10.4 billion in 2018 and a market share of 21%.
Johnson and Johnson’s acquisition of Synthes in June 2012 will allow the company to command a 30% market share of the Orthopedics market by 2018.
Medtech M&A deal value slumped 46% in the first half of 2012 compared to the first half of 2011. However, investors see potential within the medtech market as the total deal value of medtech venture financing increased by 9% to $1.9 billion in the first half of 2012.
The number of first time Premarket Approval Applications (PMAs) increased 95% to 43 in 2011; 510-K approvals were up 10% to 3,145. There have been 24 first time PMA approvals thus far in 2012.
Forecasts in EvaluateMedtech World Preview 2018 are based on a consensus of securities analysts’ models for the top 120 global companies in the sector.
Powered by EvaluatePharma’s proven platform, EvaluateMedTech is a new intelligence service focused on the medical device and diagnostic industry. The new service allows companies, investment banks, management consultancies and service providers to easily track and benchmark the global medical device and diagnostic market in a one-stop, up-to-date, online platform.
The report is now available for free download at www.evaluatemedtech.com/MT2018.
Latest from Today's Medical Developments
- Kitov AI Inc., FANUC America partner to advance AI-driven smart manufacturing solutions
- Discover cutting-edge machining at SW North America's Open House
- Maximize efficiency: ROBOGUIDE V10's high-performance upgrades
- #47 Lunch + Learn Podcast with INSACO
- USC engineers develop groundbreaking wireless implant for chronic pain management
- WALTER tool making and measuring line: VISION LASER
- Holistic development of medical devices
- Mitutoyo unveils hybrid Hybrid FORMTRACER Avant H-3000 and Formtracepak v6.2 software for precision measurements