Forecast: The global medical device market will reach $594.5 billion in 2024

Medical Network September 29th With the improvement of the national medical security policy and the rise of various new technologies, the in vitro diagnostic industry has achieved unprecedented development and become one of the most active fields in the medical device market.

Recently, Evaluate MedTech, a subsidiary of consulting firm Evaluate, released a report for the next few years. medical instruments The development of various fields and well-known companies has been forecasted. Below, summarize the main points to readers.

The report predicts that global medical device sales will grow by 5.6% on average in 2017-2024 and will reach $594.5 billion in 2024. The in vitro diagnostic market still holds the top spot, with sales in 2012 reaching $79.6 billion, accounting for total sales of medical devices. 13.4%; the fastest growing field of neurology, sales will reach 15.8 billion US dollars in 2024; the lowest growth rate is in diagnostic imaging and orthopedics, with an estimated growth rate of approximately 3.7% by 2024.

In 2017, Medtronic in the United States still topped the list with sales of $30 billion and a market share of 7.4%. Abbott Laboratories' sales in 2017 increased by 60.9%, mainly due to its acquisition at the beginning of the year. St. Jude Medica, which has made it the world's third-largest medical device company; Becton Dickinson is the only company in the TOP20 that has experienced negative growth in the past 12 months, mainly due to its breathing. Stripping of the field business.

Evaluate Medtech expects that Medtronic will remain the leader in the medical device industry by 2024, with sales reaching $38.9 billion, but market share will be reduced to 6.5%. Although Abbott acquired St. Jude Medica, it will treat eye care The business in the field was transferred to Johnson & Johnson, so the position of the two companies is not expected to change. Johnson & Johnson still pressures Abbott to occupy the second position. On the other hand, despite the decline in BD's business in 2017, due to its acquisition of St. Jude Medica, predicted to squeeze into TOP5 in 2024.

Global R&D investment trends in the medical device industry: It is predicted that the average annual growth rate will be about 4.5% in the next few years. By 2024, the total investment in global medical device research and development will be about 39 billion U.S. dollars, but the proportion of R&D in sales will be 8.7% from 2017. Reduced to 8.1%.

The company with the top R&D investment in 2024 is still Medtronic, predicting an average annual growth rate of about 2.8% in the next few years; and BD and Edwards Lifesciences will be the fastest growing R&D companies, with an average annual growth rate. Will be 8.4% and 8.3%, respectively, of which Edwards Life Science's R & D investment in 2024 will account for 16% of sales.

In vitro diagnosis is the largest segment of medical devices. The average growth rate of the in vitro diagnostic market in the next few years is about 6.1%, which is higher than the global growth rate of medical devices.

Evaluate Medtech expects that Roche will still have the largest market share in in vitro diagnostics by 2024, with a market share of approximately 17.8%. With the success of the acquisition of Alere, Abbott is expected to take the second place in in vitro diagnostics, with sales exceeding 100%. Billion dollars. Danaher, ranked third, will continue to make a big difference in this field. In March of this year, Danaher launched an acquisition of IntegratedDNA Technologies for $2 billion.

EvaluateMedTech World Preview 2018, Outlook to 2024