Healthcare markets of all types, across all countries, are expanding due to aging populations and the growing prevalence of chronic conditions. The medtech market may have started with life-saving emergency devices, but it is now job function email list focusing on multiple diverse areas. These areas include complex implantable devices aimed at improving long-term quality of life. Additionally, hospital equipment, wearable tech, robotics, disposable equipment, software, testing services, and support services all make up the MedTech sector.
The size and growth of the MedTech market are readily measurable:
The US medical device industry without any precedent in german constitutional history is estimated to be worth $173 billion in 2019.
Forecasts show a compound annual growth rate to be 5.3%.
US healthcare expenditure is 17.1% of GDP.
There are over 6,500 medical device companies in the US, producing over 4,000 different types of devices.
As one example, Johnson and Johnson made $27 billion from their MedTech division in 2017.
The below graph illustrates the steady growth of global MedTech revenue, from 2011-2024:
Global medtech revenue growth
And the outsourcing market china business directory is just as healthy:
Global outsourcing market forecast to be $195 billion by 2025, up from $94.2 billion in 2018.
Market compound annual growth rate of 10.9%.
Globally, contract manufacturing (the largest outsourced item) will reach $104.5 billion by 2025.
