INDUSTRY TRENDS: BY THE NUMBERS Compiled by Cari Kraft, Jacobs Management Group, Inc.
$795B
Projected global medical device sales by 2030 The medical device industry is poised for steady growth, with global annual sales forecast to rise by over 5 percent a year and reach nearly $800B by 2030. These projections reflect increasing demand for innovative new devices (like wearables) and services (like health data), as lifestyle diseases become more prevalent, and economic development unlocks the huge potential in emerging markets. Source: Medical Devices 2030 KPMG, January 2019
54
Average number of new products launched in coming years The past five years have seen an average of 46 new product launches per year in developed markets. This is expected to rise to an average of 54 from now through 2023, with an annual average of $45.8B spent to accomplish that. Source: The Global Use of Medicine in 2019 and Outlook to 2023 IQVIA Institute Report, Jan 29, 2019
60.8M
Americans currently on Medicare The number of Americans on Medicare has been steadily rising, from 58.5M in 2017 to over 60M in 2019. Of these, over 45M also have Part D coverage. Source: CMS.gov
37 | HS&M NOVEMBER/DECEMBER 2019
