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Medtech in 2028: Suffering or Celebrating a COVID Hangover?

We’ve extended our forecasts out to 2028 and in our latest report, we take a look at what’s in store for the medtech market in the next few years.


It seems obvious to say that Covid had a massive impact on the medtech industry but being obvious doesn’t stop the statement being true. Several medtech businesses had bumper years as Covid testing kits flew out of the factories – while the cancellation of surgeries meant other companies weren’t feeling the same financial boosts. With the pandemic in retreat in most parts of the world a reset was inevitable and we’re now able to take a clearer-eyed view of what comes next.

What comes next has been very much the focus for the medtech experts at Evaluate, as we worked on the latest edition of our Medtech World Preview report, which uses our proprietary forecasting to predict the landscape out to 2028.

Whilst the data hasn’t driven us to herald seismic shifts to the industry, it does make for interesting reading. We’re predicting steady growth, which will be music to the ears of many industry players after the turmoil of the past couple of years. Naturally, that level of growth varies across the key sectors with some of the biggest market segments expected to have much slower growth than smaller segments.

In the report (you can find the full version here), we look at data for the overall market in 2028, including sales by device area, top 10 companies and R&D spend across the big players. We’re not forecasting a change in the biggest company in the market for 2028 but there are shifts in both directions for companies who are either taking advantage of a return to normality or who are coming back to Earth with a bump.

As well as the top line data, we dig into five of the key medtech areas to see what’s driving the movers and shakers in each segment. In vitro diagnostics, cardiology, ophthalmics, diagnostic imaging and orthopedics all feature here.

There’s plenty of food for thought in the full report and if you fancy a quick look at the headlines, you can download the infographic too. And of course you can stay on top of all the market news on the medtech industry by subscribing to Evaluate Vantage which keeps an eye on the big players, new devices and FDA approvals.

Rachel Morgan

VP, Product Operations


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