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The total value of the global medtech market is expected to reach $529.8 billion by 2022, growing at an annual rate of 5.2 percent over the next seven years according to the “EvaluateMedTech World Preview 2016, Outlook to 2022” report from life science commercial intelligence firm Evaluate Ltd.
“Overall, the device industry is growing reasonably rapidly, and the calming of the M&A scene does not pose a problem for the expected growth,” said Ian Strickland, product manager for EvaluateMedTech. “The sector is already seeing a resurgence of smaller acquisitions on which start-ups, a significant source of disruptive new technologies, depend.”
“Most of this projected growth is driven by a number of new products that will come onto the market in the next seven years. However, there are several issues that could spoil this rosy picture of uninterrupted growth, including political scrutiny over pricing. The recent outcry over Mylan’s price increases for EpiPen – followed by the company’s repeated capitulations – show just how sensitive pricing models can be to political pressure,” said Antonio Iervolino, Head of Forecasting, Evaluate.
“As a result of this we expect companies to continue investing in pricing models strongly tied to real world benefits and consistently incorporate pricing and market access discussions at a much earlier stage in the clinical development process. So, while currently the industry does have plenty to celebrate, there are potential brakes on progress that could make the outlook much more mixed.”
EvaluateMedTech® World Preview 2016, Outlook to 2022 - Analysis Highlights:
The “EvaluateMedTech® World Preview 2016, Outlook to 2022” report is based on in-depth forecast models for the top 300 global medtech companies available within EvaluateMedTech®. This sales forecast represents the only current consensus view from equity analysts of the entire medtech market. The report can be downloaded at www.evaluategroup.com/MedtechWorldPreview2016. Ian Strickland, product manager for EvaluateMedTech®, will be available for discussion and comment at AdvaMed 2016. A hard copy of the executive summary will be available at Evaluate’s AdvaMed 2016 booth #407, which is taking place October 17-19, 2016 in Minneapolis, Minnesota.
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