LONDON, BOSTON & TOKYO -- (BUSINESS WIRE) -- The medical device and diagnostics market is set to grow at 4.5 percent per year (CAGR) between 2012 and 2018, totalling $455 billion in 2018, according to the newly-released EvaluateMedTech World Preview 2013, Outlook to 2018: The Future of Medtech report from market intelligence firm Evaluate Ltd. The report predicts that in vitro diagnostics (IVD) will retain its position as the world’s largest medtech segment in 2018, with global sales totaling $58.8 billion, followed by cardiology and then diagnostic imaging.
The second edition EvaluateMedTech World Preview report provides top-level insight from the world’s financial markets into the expected performance of the medical device and diagnostic industry between now and 2018. The report was released today at AdvaMed 2013 in Washington, D.C., and is available as a free download at www.evaluategroup.com/MedTechWP2013.
While the IVD category holds the greatest market share, neurology has set the pace as the fastest-growing of the top 15 device areas, with an annual growth rate of 6.9 percent between 2012 and 2018. Meanwhile, the diabetic care and orthopedics categories are expected to be the slowest growing of the top 15 device areas, expanding by only 3.4 percent per year (CAGR) between 2012 and 2018.
“Despite the medtech industry having a tough first half of 2013, with M&A deal values and PMA approvals declining, consensus forecasts predict healthy growth in the months and years ahead resulting in a $455 billion market by 2018,” said Ian Strickland, Product Manager of EvaluateMedtech and author of the report. “Within the industry, the leading segment of in vitro diagnostics continues to grow more strongly than the medtech market as a whole, thanks to advances in molecular diagnostics and drugs becoming increasingly linked to diagnostic tests.”
In addition to forecasting medtech segment growth and overall worldwide sales, the report also examines key topics including R&D spending, company performance by segment, FDA approvals, M&A deal values and venture financing. Among the key findings:
For more information on the 2013 Edition of the EvaluateMedTech World Preview, visit Evaluate Booth 414 at AdvaMed. The executive summary and full report are available for download at www.evaluategroup.com/MedTechWP2013.
About Evaluate Ltd.
Evaluate is the trusted source for high quality commercial market intelligence and exclusive consensus sales forecasts to 2018. Our services are EvaluatePharma, EvaluateMedTech and EvaluateClinicalTrials. Our award-winning editorial arm, EP Vantage, leverages our market intelligence and analysis to provide daily opinion and insights. Evaluate’s services give you the insights you need to ask the right questions and get the right answers. That’s intelligence you can act on. For more information visit: www.evaluategroup.com. On Twitter: @evaluatepharma, @evaluatemedtech, @epclinicaltrial, @epvantage.