Health, Pharma & Medtech

In 2019, the leading causes of death worldwide were ischemic heart disease, stroke, and chronic obstructive pulmonary disease (COPD). That year, ischemic heart disease and stroke accounted for a combined 27 percent of all deaths worldwide. Although the leading causes of death worldwide vary by region and country, heart disease is a consistent leading cause of death regardless of income, development, size, or location.

Heart disease In 2019, around 8.89 million people worldwide died from ischemic heart disease. In comparison, around 1.78 million people died from lung cancer that year, while 1.5 million died from diabetes. The countries with the highest rates of death due to heart attack and other ischemic heart diseases are Lithuania, Russia, and Hungary. Although some risk factors for heart disease, such as age and genetics, are unmodifiable, the likelihood of developing heart disease can be greatly reduced through a healthy lifestyle. The biggest modifiable risk factors for heart disease include smoking, an unhealthy diet, being overweight, and a lack of exercise. In 2019, it was estimated that around two million deaths worldwide due to ischemic heart disease could be attributed to smoking.

The leading causes of death in the United States Just as it is the leading cause of death worldwide, heart disease is also the leading cause of death in the United States. In 2020, heart disease accounted for almost 21 percent of all deaths in the United States. Cancer was the second leading cause of death in the U.S. that year, followed by COVID-19. As of 2020, the odds that a person in the United States will die from heart disease is 1 in 6. However, rates of death due to heart disease have actually declined in the U.S. over the past couple decades. From 2000 to 2019, there was a 7.3 percent decline in heart disease deaths. On the other hand, deaths from Alzheimer’s disease saw an increase of 145 percent over this period. Alzheimer’s disease is currently the seventh leading cause of death in the United States, accounting for 32.4 deaths per 100,000 population in 2020.

For both sexes of all ages, the total number of new cancer cases worldwide was estimated to be approximately 19.98 million in 2022. Around 49 percent of these new cancer cases were in Asia. This statistic depicts the distribution of new cancer cases worldwide in 2022, sorted by region.

In 2021, French Polynesia had the highest prevalence of diabetes worldwide, with around 27 percent of the population suffering from the disease. Diabetes mellitus, or simply, diabetes, refers to a group of metabolic disorders that cause high blood sugar levels. Diabetes can be prevented and treated though exercise, maintaining normal body weight, and healthy eating, but is usually managed with insulin injections.

Costs

As of 2021, there were almost 540 million people worldwide who had diabetes. With such a huge number of people suffering from this disease it is no surprise that spending on diabetes can be very high. It is estimated that the United States alone spent around 380 billion U.S. dollars on diabetes health expenditure in 2021. The countries with the highest spending per patient with diabetes include the United States, Switzerland, and Norway.

Death

Diabetes is among the leading ten causes of death worldwide, accounting for around 1.5 million deaths in 2019. Complications resulting from diabetes include chronic kidney disease, stroke, and cardiovascular disease. Risk of early death is at least doubled among those with diabetes. The Western Pacific reports the highest number of deaths from diabetes followed by the Middle East and North Africa.

The global pharmaceutical market has experienced significant growth in recent years. For 2023, the total global pharmaceutical market was estimated at around 1.6 trillion U.S. dollars. This is an increase of over 100 billion dollars compared to 2022.

Global pharmaceutical markets Globally, the United States is by far the leading market for pharmaceuticals, followed by other developed countries and emerging markets. Emerging markets can include middle and low-income countries such as Brazil, India, Russia, Colombia and Egypt, to name a few. Despite increasing revenues globally, the Latin American region accounts for the lowest share of the global pharmaceutical market’s revenues.

Top pharmaceuticals globally The top pharmaceutical products sold globally include Humira, Eliquis and Revlimid. Oncology is the op therapeutic area for drug sales globally and it is expected to show the largest growth over the next years. It is followed by drug spending for autoimmune diseases and diabetes. During the height of the COVID-19 pandemic, covid vaccine Comirnaty was the world's top revenue generating pharmaceutical product.

This statistic depicts the top global pharmaceutical companies based on pharmaceutical revenue in 2022. In that year, Swiss corporation Novartis generated some 50 billion U.S. dollars of pharmaceutical revenue. Pfizer, however, held on to the first place, still mostly due to record-breaking COVID-19 vaccine sales.

Top global pharmaceutical companies

The top pharmaceutical companies when based exclusively on prescription drug revenue with pharmaceutical products are Pfizer, AbbVie, and Johnson & Johnson, as of 2022. The companies generated 91 billion U.S. dollars, 56 billion U.S. dollars, and 50 billion U.S. dollars, respectively, in that year. Swiss company Novartis has not maintained its top 3 ranking from previous years. Novartis is a multinational company based in Basel, Switzerland. The company was established in 1996 through the merger of Swiss pharmaceutical companies, Ciba-Geigy and Sandoz Laboratories. One of Novartis' segment consists of over-the-counter drugs such as Excedrin, sold in the United States. This is a drug normally marketed as a headache pain reliever and sold in the form of a tablet or caplet.

From the United Sates, Johnson & Johnson remains one of the largest biotechnology and pharmaceutical companies as of 2022, generating some 50 billion U.S. dollars in total pharmaceuticals revenue. Johnson & Johnson’s revenue from the company’s top three drugs accounted for around 40 percent of the company’s total pharmaceutical revenues in 2022. In 2022, the U.S. pharma industry spent over 75 billion U.S. dollars within the country on pharmaceutical research and development and nearly 26 billion U.S. dollars abroad.

This statistic shows the total worldwide medical technology revenue between 2011 and 2024. In 2024, the total medical technology revenue globally is expected be nearly 600 billion U.S. dollars. Medical technology is used for diagnosis, monitoring, or treatment of diseases or medical conditions, for example.

In 2022, with a revenue of approximately 31.3 billion U.S. dollars, Abbott Laboratories. was the leading medical technology company in the world. The largest medical devices segment within the company was for diabetes care, followed by vascular applications and rhythm management devices. The United States was by far the most important geographical region for Abbott which is based in Chicago, Illinois.

Abbott Laboratories in numbers While the company was founded in 1888, Abbott underwent a noteworthy split into two companies in 2013. The company which retained the original name specializes in medical products, while AbbVie focused on research-based pharmaceuticals. Since then, the company has gone from strength to strength. As of 2023, Abbott had around 114 thousand employees worldwide. Due to the COVID-19 pandemic, the value of the company’s rapid diagnostics segment hugely increased in value in 2021 and 2022.

Johnson & Johnson In 2022, U.S. based medical device company Johnson & Johnson generated 27.4 billion U.S. dollars in revenue. The company had over 152 thousand employees in 2022. Johnson & Johnson’s largest segment within medical devices was surgical, which earned about 9.7 billion U.S. dollars. The orthopedics franchise was the segment’s second-largest field, generating roughly 8.6 billion U.S. dollars that year.

In 2019, the global digital health market was worth an estimated 175 billion U.S. dollars. With an expected CAGR of almost 25 percent from 2019 to 2025, the digital health market should reach nearly 660 billion dollars by 2025.

Increasing use of digital health tools Over the last decade, investor funding in the digital health industry has increased significantly. In 2020, over 21 billion U.S. dollars was invested in the industry, compared to around one billion U.S. dollars in 2010. Even before the COVID-19 pandemic in 2020, which sharply increased the need for digital health tools to be used, consumers’ adoption of telemedicine had been increasing.

Further trends A survey of European health professionals found that they believed the biggest ehealth trend in the coming years will be the use of patient owned health data. In general, most healthcare workers thought ehealth prospects in their country would improve in the coming year. However, the biggest challenge to implementing ehealth changes efficiently and effective in Europe is regarded to be funding and costs.

In 2022, the United States had the highest per capita health expenditure among OECD countries. At that time, per capita health expenditure in the U.S. amounted to 12,555 U.S. dollars, significantly higher than in Switzerland, the country with the second highest per capita health expenditure. Germany, Norway, and the Netherlands are also within the top five countries with the highest per capita health expenditure. The United States also spent the highest share of it’s gross domestic product on health care, with almost 16.6 percent of its GDP spent on health care services.

Health Expenditure in the U.S. The United States is the highest spending country worldwide when it comes to health care. In 2021, total health expenditure in the U.S. exceeded four trillion dollars. Expenditure as a percentage of GDP is projected to increase to approximately 20 percent by the year 2031.

Distribution of Health Expenditure in the U.S. Health expenditure in the United States is spread out across multiple categories such as nursing home facilities, home health care, and prescription drugs. As of 2021, the majority of health expenditure in the United States was spent on hospital care, accounting for a bit less than one third of all health spending. Hospital care was followed by spending on physician and clinical services which accounted for 20 percent of overall health expenditure.

This statistic shows U.S. personal health care expenditure in total and per person in selected years between 2000 and 2031. In 2031, total health care expenditure is projected to reach some six trillion U.S. dollars, while per capita spending is expected to reach 17,178 U.S. dollars.