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Medical Device Industry Revenues Should Outpace Healthcare Field
March 27, 2019 | PRNewswireEstimated reading time: 1 minute
The U.S. markets are bullish on the future of the medical device markets. In 2024, the total medical technology revenue globally is expected be nearly $600 billion U.S. dollars.
U.S. remains the largest medical device market in the world, with a market size of around $156 billion as well as representing about 40% of the global medical device market.
The markets, Moody's in particular, are expecting this trend to continue. The medical device industry should see a stand-out year in 2019, according to a Moody's report on the industry, Medtech Dive reports. The financial services company predicts a positive outlook for medtech, with forecasted earnings before interest, tax, depreciation and amortization of between 4.5% and 5.5% for companies on an organic basis, according to the report.
The positive outlook for medtech stands out from the rest of the healthcare field, with pharmaceuticals and U.S. for-profit hospitals only receiving a stable outlook, Medtech Dive reports. Active Healthcare companies in the markets this week include: Soliton, Inc., Bio-Path Holdings, Inc., Aldeyra Therapeutics, Inc., Endo International plc, AbbVie Inc.
Revenue growth for device companies will be driven through innovation for most companies and categories, with sales in emerging markets expected to grow more than 10%, according to the report. "The future isn't entirely without challenges for medtech, however, with Moody's noting rising trade tensions and the possible return of the medical device excise tax in 2020 as noted hurdles for the industry."
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