Medical Technology Industry - Statistics & Facts

Medical Technology Industry - Statistics & Facts

Statistics and facts about the global medical technology industry

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.



Photo: istockphoto.com / chromatika

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Facts on Medical technology industry
OverviewValuesStatistic
Value of U.S. surgical and medical instrument manufacturing shipments38.4bn USD Details →
Global medical technology revenues in 2016392bn USD Details →
Total global medical technology growth per year in 20165.7% Details →
Global medical technology research and development spending in 201626.7bn USD Details →
Global medical technology research and development spending as a percent of total revenue in 20156.8% Details →
Number of medtech companies that make between 5-10 billion USD in revenue as of 20155 Details →
Revenue of health IT company Optum6.2bn USD Details →
CompaniesValuesStatistic
Revenue of the Fresenius Group in 201629.1bn EUR Details →
Revenue of General Electric Healthcare in 201618.3bn USD Details →
Revenue of Johnson & Johnson Medical Devices and Diagnostics in 201525.1bn USD Details →
Medtronic's total revenue in 201628.8bn USD Details →
Projected revenue of Medtronic in 202239.9bn USD Details →
SegmentsValuesStatistic
In vitro diagnostics percentage of the total medtech market in 201513.1% Details →
Revenue of Sysmex in 20151.94bn USD Details →
Top producer of diagnostic imaging technology in 2015Siemens Details →
Smith & Nephew's share of the global advanced wound management market18% Details →
Zimmer Biomet's share of the global hip and knee implants market34.9% Details →
IPOs, M&As and fundingValuesStatistic
Medtech venture capital investment in the U.S. and Europe5.6bn USD Details →
Healthcare IT venture capital funding in the U.S.1.1bn USD Details →
Number of medtech IPOs in 2014-201543 Details →
Number of medtech mergers and acquisitions in 2016217 Details →
Value of merger and acquisitions in the medtech industry in 201642bn USD Details →
Cost and utilizationValuesStatistic
Utilization of pacemaker implantable medical devices (per 10,000 Medicare beneficiaries)62 Details →
Utilization of coronary stent implantable medical devices (per 10,000 Medicare beneficiaries)121 Details →
Average cost to a hospital for a hip replacement surgery in Australia19,484 USD Details →
Number of MRI units per million persons in Japan in 201551.67 Details →
Number of computer tomography (CT) scanners per million persons in Australia59.64 Details →


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