INDUSTRY TRENDS: BY THE NUMBERS Compiled by Cari Kraft, Jacobs Management Group, Inc.
$300B
Size of US medical device market in 2030 The projected size of the US medical device market will top $300 billion by 2030, according to a KPMG report. China will grow to $200B, followed by France, Germany, India, Japan and the UK. Source: KPMG International Strategy Group Report on Medical Devices 2030, published in 2019 (see Healthcare Sales and Marketing’s November/December 2019 issue for highlights)
32%
Percentage of Gen Z consumers who are dissatisfied with traditional medical treatment A recent study showed that nearly a third of Generation Z and 12% of millennials don’t find traditional healthcare services to be satisfactory. They are healthcare “shoppers” more than their parents and grandparents, whose dissatisfaction is in the single digits. Source: Accenture 2019 Digital Health Consumer Survey, February 2019
15%
Percentage of healthcare spending directed towards value-based concepts It’s expected that 2019’s expenditure in value-based care concepts added up to about 15% of total spending. This affected the number of risk-sharing contracts between providers and drug/device OEMs, driving business value. Source: Frost & Sullivan 2019 Top Growth Opportunities in Healthcare by Region and Key Sectors, January 2019 45 | HS&M JANUARY/FEBRUARY 2020
