October 6, 2017 Source: evaluategroup 406
Worldwide prescription drug market only forecast to grow at a marginally faster rate than the medtech market. Evaluate consensus forecasts find that the worldwide market for prescription drugs is set to narrowly outperform the medical device market with a 5.2% market growth per year between 2016 and 2022, versus a 5.1% growth rate per year for medical devices.
Overall, in 2022, the medtech industry will be 50.0% of the size of the prescription drug market, not showing much variation from 2016. Both industries returned to growth in dollar terms in 2016 after contracting in 2015 as a result of the weakness in the Euro, as US companies recognised fewer dollars for sales in the Eurozone.
WW Medtech Sales +5.1%
WW Prescription Drug Sales +5.2%
Note: Prescription drug sales based on top 500 pharmaceutical and biotech companies from EvaluatePharma®. Sales to 2016 based on company reported sales data. Sales forecasts to 2022 based on a consensus of leading equity analysts’ estimates for segmental sales.By Ddu
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