Report: Global medtech sales forecast to reach $522B by 2022
The “EvaluateMedTech World Preview 2017, Outlook to 2022” report from life science commercial intelligence firm Evaluate, reveals Medtronic was the leading medtech company in 2016 with sales of almost $30 billion and will retain the crown in 2022, with sales forecast to reach $37.7 billion. Abbott to jump to 3rd place as its acquisition of St. Jude creates the world’s second largest cardiology company.
“After a slow year in 2016 as companies that had made large buys the year before paused to digest their purchases, M&A activity is once again on the up. At nearly $50 billion, the total value of mergers closed in the first half of 2017 has already eclipsed the total for all of 2016,” said Elizabeth Cairns, report author. “Despite this the number of deals struck has been falling; mergers are getting bigger, but also scarcer”, she added.
EvaluateMedTech World Preview 2017, Outlook to 2022 - Analysis Highlights:
- Total value of medtech M&A deals rises by a massive 178% in H1 2017.
- In vitro diagnostics is expected to remain the largest medtech segment in 2022 with annual sales of $70bn; Roche remains top player with expected sales of $12.8 billion in 2022.
- Total value of medtech venture financing deals rises 56% in H1 2017 despite the number of deals falling by 11%.
- Total value of medtech IPOs continues to fall in H1 2017 to $122 million.
- Global medtech R&D spend set to grow by 3.7% (CAGR) to $33.5 billion by 2022.
- Following the 10 year high in 2015, number of first-time PMAs and HDEs down 22% in 2016.