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 total global medical technology industry’s market size is approximating half a trillion 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.
The strongest businesses within the medtech industry are in vitro diagnostics (IVD), cardiology, diagnostic imaging, and orthopedics. In vitro diagnostics currently generate some 53 billion U.S. dollars globally, but are forecasted to reach some 80 billion dollars by 2024. Swiss-based company Roche is the global top manufacturer, generating over 10 billion U.S. dollars in worldwide IVD revenue. However, it is expected that Roche's share of the global in vitro diagnostics market will decrease from almost 20 percent in 2017 to around 17.8 percent in 2024.
Although medtech revenues kept increasing over the last years, the the global financial crisis of 2007-2008 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. How far the coronavirus pandemic will have an affect on medical technology IPOs, M&As, and funding in total 2020, is still to be seen.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.