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Medical Device Market To Have A Strong Year In 2019


The aging of the worldwide population yearly creates a larger market for the medical device industry. It fuels the expansion of the global and U.S. medical device markets. The World Health Organization, according to an article in Todays Medical Developments, an industry source, said that: “… the geriatric population will reach 1.5 billion by 2050; 16% of the total world population – and as chronic and lifestyle disease increases, demand for medical devices, advanced technology grows.”  SelectUSA (a U.S. Department of Commerce program) has stated that the U.S., the world’s largest medical device market, represents about 40% of the global industry with exports surpassing $41 billion. Todays Medical Developments article added that the global medical technology market is “… is estimated to reach $409.5 billion by 2023 with a compound annual growth rate (CAGR) of 4.5%, according to ResearchandMarkets‘ forecast. If you are looking for more opportunity, Evaluate Medtech’s analysts suggest the global medical device market will grow at 5.6% CAGR to reach $595 billion by 2024. Medical device manufacturing remains a strong market, driven by technological developments, an aging population, and increases in chronic and lifestyle diseases – trends that expand healthcare spending.”    Active Healthcare companies in the markets this week include: Soliton, Inc. (NASDAQ: SOLY), Novartis AG (NYSE: NVS), Amgen Inc. (NASDAQ: AMGN), Medtronic plc (NYSE: MDT), Baxter International Inc. (NYSE: BAX).

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Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.