Statistics and facts on medical technology
The medical technology industry is an eminent part of the healthcare sector. It includes, most of all, medical devices which simplify the prevention, diagnosis and treatment of diseases and illnesses. The most well known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines and implants. But medical technology products and medical devices include a larger range of products. Thermometers and gloves can be defined as medical devices as well as an in-vitro reagent. Health information technology also can be defined as an increasingly important part of the whole medtech branch.
The whole global medtech industry’s market size stands at approximately 350 billion U.S. dollars. Established centers of this industry are the United States and Western Europe, both generating the largest share of the global medtech revenue. According to that, most of the top medical technology companies come from these two regions. Some are only divisions of larger companies, like global leader Johnson & Johnson Medical Devices & Diagnostics, or General Electric Healthcare. In 2012, Johnson & Johnson made some 27.4 billion U.S. dollars through its medtech division, followed by German Fresenius Group, generating 25.4 billion U.S. dollars.
However, Asia and first of all China are expected to become more prominent within the global medical technology industry. Industry outlooks predict that demand for medical devices in major regions will increase until 2020. In the United States, demand is expected to grow some four percent, while China’s demand could increase by almost 15 percent in the same period.