Medtech Market to Achieve Global Sales of $440 Billion by 2018
Boston (ots/PRNewswire)
- EvaluateMedTech(TM) World Preview 2018 Reveals Medtech Sales Growth Rate Forecast to Outperform Global Prescription Drug Market Between 2011 and 2018
EvaluatePharma [http://www.evaluatepharma.com](R) the premier source for life science sector analysis and consensus forecasts, today released its EvaluateMedTech(TM) World Preview 2018 [http://www.evaluatemedtech.com/MT2018] report at the AdvaMed 2012 [http://advamed2012.com] conference taking place in Boston, October 1-3. EvaluateMedTech( TM) World Preview 2018 provides top insights and analysis from the world's financial markets to forecast 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 percent per year between 2011 and 2018, to reach $440 billion, according to the EvaluateMedTech(TM) World Preview 2018. This growth will outpace the global prescription drug market, which is expected to grow 2.5 percent 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 percent per year to $7.3 billion. Orthopedics is forecast to be the slowest growing segment, expanding 3.1 percent 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," said Anthony Raeside, head of research, EvaluatePharma [http://www.evaluatepharma.com](R). "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(TM) 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 percent 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 percent 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 percent. - Johnson and Johnson's acquisition of Synthes in June 2012 will allow the
company to command a 30 percent market share of the Orthopedics market by 2018. - Medtech M&A deal value slumped 46 percent 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
percent to $1.9 billion in the first half of 2012. - The number of first time Premarket Approval Applications (PMAs) increased
95 percent to 43 in 2011; 510-K approvals were up 10 percent to 3,145. There have been
24 first time PMA approvals thus far in 2012.The report is now available for free download at http://www.evaluatemedtech.com/MT2018. A hard-copy Executive Summary of the EvaluateMedTech(TM) World Preview 2018 report is available at EvaluatePharma [http://www.evaluatepharma.com](R)'s AdvaMed Booth #223/225.
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 [http://www.evaluatepharma.com](R)'s proven platform, EvaluateMedTech(TM) [http://www.evaluatemedtech.com] 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.
Complimentary copies of EvaluateMedTech(TM) World Preview 2018 are available for download. Access the report at http://www.evaluatemedtech.com/MT2018.
About EvaluatePharma(R)
Since 1996, EvaluatePharma [http://www.evaluatepharma.com](R) has been the premier source for life science sector analysis, delivering exclusive, trusted commercial insight into industry performance through its proprietary platform. EvaluatePharma [http://www.evaluatepharma.com](R) is staffed by a team of over 85 dedicated healthcare analysts employing rigorous methodologies to collate, organize and deliver the most-up-to-date commercial performance data available. An award winning editorial team of journalists writing under the EP Vantage(R) name support EvaluatePharma(R)'s analysis. The company's newest service offering, EvaluateMedTech(TM), provides the first consensus view of the medical device and diagnostic industry. The EvaluatePharma(R) services enable the life science community to make sound business decisions about value and opportunity. For more information please visit http://www.EvaluatePharma.com.
Media Contacts: EvaluatePharma Christine Lindgren +1-617-866-3906 christinel@EvaluatePharma.com Chempetitive Group Erik Clausen +1-858-457-2436 eclausen@chempetitive.com