Healthcare Transformers: Navigating MedTech's Next Wave in 2024

Posted by Jignesh J on December 25th, 2023

The global MedTech market size is estimated to grow from 2.5 billion in 2023 to 8.2 billion in 2024, a ~4% year-over-year increase.

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Key Growth Drivers

Continued technology innovation, mergers and acquisitions, new product launches, and new business models.

Advancements in imaging technologies and innovative surgical solutions.

Rise of ambulatory care facilities and increase in ambulatory surgical volumes.

Strategic partnerships between MedTech companies to enhance care offerings.

Adoption of AI/ML technologies to enable value-based care and personalized medicine.

Key MedTech Companies

Abbott, BD, Boston Scientific, Cardinal Health, Fresenius Medical Care, Fujifilm, GE Healthcare, Johnson & Johnson, Medtronic, Philips, Roche, Samsung Medical, Siemens Healthineers, Stryker.

2024 Growth Areas

Precision medicine playing a pivotal role, enabled by genomic data, innovative technologies, and analytics.

Continued innovation in AI-based solutions for diagnostics, patient care, therapeutics.

Growth opportunities in AI radiology, remote patient monitoring, extended reality, ESG-focused strategies.