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 Area Sales (US$ Bn) CAGR (2014-2020) Market Share (%)
2014 2020 2014 2020
In Vitro Diagnostics (IVD) 49.9 67.3 5.1% 13.3% 14.1%
Cardiology 41.9 54.2 4.4% 11.2% 11.4%
Orthopedics 34.8 42 3.2% 9.3% 8.8%
Diagnostic Imaging 35.6 40.9 2.3% 9.5% 8.6%
Ophthalmics 25.6 33.7 4.7% 6.8% 7.1%
General & Plastic Surgery 19.4 24.6 4.0% 5.2% 5.1%
Drug Delivery 18.6 22.3 3.1% 4.9% 4.7%
Endoscopy 16.3 21.5 4.8% 4.3% 4.5%
Dental 12.9 16.5 4.2% 3.4% 3.5%
Wound Management 12.9 15.8 3.4% 3.4% 3.3%
Diabetic Care 11.5 14.4 3.8% 3.1% 3.0%
Nephrology 11.3 13.5 3.1% 3.0% 2.8%
Ear, Nose  & Throat (ENT) 8.5 11 4.3% 2.3% 2.3%
General Hospital & Healthcare 8.9 10.9 3.4% 2.4% 2.3%
Neurology 6.4 9.5 6.9% 1.7% 2.0%
Other 60.8 79.5 4.6% 16.2% 16.7%

Top 10 Medical Device Areas Analysis (2014-2020)

Top 10 Medical Device Areas Analysis (2014-2020)

Source: EvaluateMedTech® September 2015

2017-01-07T10:19:49+00:00 Categories: Analyst Insights|