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The MedTech sector generated approximately $500 billion in revenue in 2022 and presents a treasure trove of opportunities for 2023 and beyond.
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This sector is modestly growing by 4-6% each year, making it critical to explore new avenues of growth to build and retain competitive advantage.
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In 2022, 3 MedTech outliers- Inari Medical, Intuitive Surgical, and Dexcom achieved a whopping 25+% organic year-on-year growth, significantly above the single-digit market average. This highlights the immense potential of innovation in vascular devices, robotic surgery, and diabetes management.
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Cardiology devices represent the largest segment by revenue, followed by devices for minimally invasive surgery, respiratory care and anaesthesia, ophthalmology, imaging equipment, and orthopaedics.
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North America is the biggest MedTech market, accounting for 40% of total market revenue.
