Medical Technology Industry - Statistics & Facts

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. The whole global medical technology industry’s market size stands at some 400 billion U.S. dollars. Established centers of this industry include the United States and Western Europe. But industry trends show that Asia and first of all China, are about to play a more prominent role in the years to come.

Most of the top medical technology companies come from the United States. Some are only divisions of larger companies, like global leader Johnson & Johnson Medical Devices & Diagnostics, or General Electric Healthcare. In 2015, Johnson & Johnson made some 25.1 billion U.S. dollars through its medtech division, and thus was the top U.S.-based company.

Although medtech revenues kept increasing over the last years, the financial crisis had a negative impact on the industry. This can be shown by reference to the number of IPOs, which after the crisis was distinctly lower than before it. However, starting with 2013, a strong upward trend is visible throughout the industry's IPO activity.

The strongest businesses within the medtech industry are in vitro diagnostics (IVD), cardiology, diagnostic imaging, and orthopedics. In vitro diagnostics currently generate some 48 billion U.S. dollars globally, but are forecasted to exceed 70 billion dollars by 2022. Swiss-based pharmaceutical company Roche is the global top manufacturer, generating about nine billion U.S. dollars in worldwide IVD revenue in 2015. It is expected that Roche will further increase its share of the global in vitro diagnostics market from 18 percent in 2015 to nearly 19 percent in 2022.

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