Top 10 Medical Device Areas Analysis: Trends and Forecast to 2020

Top 10 Medical Device Areas Analysis: Trends and Forecast to 2020

According to a recent world preview report (2015) by EvaluateMedTech indicated the total value of the global medical devices market with sales in 2014 at $375.2bn and it is expected to reach $477.5bn by 2020, growing at an annual rate of 4.1% over the next five years till 2020.

In vitro diagnostics (IVD) would be the number one medical device area in 2020, achieving sales of $67.3bn or a 14.1% share of the medical device industry. Interestingly, in addition to being the top area it is also the second fastest-growing area in the top 15, with a 5.1% CAGR between 2014 and 2020. Neurology medical devices takes the top spot as the fastest-growing device area, with sales set to expand at an annual rate of 6.9% between 2014 and 2020, reaching $9.5bn in 2020.

Medical Devices AreaSales (US$ Bn)CAGR (2014-2020)Market Share (%)
2014202020142020
In Vitro Diagnostics (IVD)49.967.35.1%13.3%14.1%
Cardiology41.954.24.4%11.2%11.4%
Orthopedics34.8423.2%9.3%8.8%
Diagnostic Imaging35.640.92.3%9.5%8.6%
Ophthalmics25.633.74.7%6.8%7.1%
General & Plastic Surgery19.424.64.0%5.2%5.1%
Drug Delivery18.622.33.1%4.9%4.7%
Endoscopy16.321.54.8%4.3%4.5%
Dental12.916.54.2%3.4%3.5%
Wound Management12.915.83.4%3.4%3.3%
Diabetic Care11.514.43.8%3.1%3.0%
Nephrology11.313.53.1%3.0%2.8%
Ear, Nose  & Throat (ENT)8.5114.3%2.3%2.3%
General Hospital & Healthcare8.910.93.4%2.4%2.3%
Neurology6.49.56.9%1.7%2.0%
Other60.879.54.6%16.2%16.7%

Source: EvaluateMedTech

2017-11-03T10:12:32+00:00 Categories: Analyst Insights|