For many years, Medtronic has been the largest purely medical technology company. This year, the company has become the largest company in the medical technology industry, and it will even further expand its dominance.
According to the 2015 Global Forecast report released by eva luateMedTech, by 2020, Medtronic will occupy a 7% share of the global medical device market with annual sales of $35 billion.
Medtronic has been aggressively acquiring some of the smaller medical technology companies, while the industry's former leader, Johnson & Johnson (J&J), is doing the opposite: it is divesting the medical technology division to further highlight its focus. . The above report shows that there are many trends in the medical device industry , especially three of which are critical to understanding the future of the industry.
Trend 1: Industry integration upgrade
The first obvious trend in the medical machinery industry is of course integration. Medtronic was promoted to the top spot on the leaderboard because it completed the largest acquisition in the industry's history – bringing Covidien to the foremost $50 billion. Since the announcement of a deal with Covidien, Medtronic has implemented 11 other acquisitions.
Medtronic is not the only medical technology company that has surpassed its peers by taking advantage of the acquisition. By 2020, Becton Dickinson will be the fifth largest medical technology company in the world, thanks to the company's acquisition of CareFusion for $12.2 billion last year. Through this acquisition, BD Medical has jumped 7th and ranked fifth in the medical technology industry.
In 2014, the total value of M&A transactions completed by the medical technology industry reached US$42 billion, a significant increase from the US$29 billion in 2013. However, in 2015, the industry really attracted the attention of all parties. In the first half of this year, the total value of M&A transactions completed by the medical technology industry reached US$84 billion, a 166% increase over the first half of 2014. The total value of M&A transactions in the past six months is larger than any previous year. It is predicted that the total value of transactions in the medical technology industry this year can basically exceed 100 billion US dollars.
Although the medical technology industry will no longer see transactions like Medtronic's acquisition of Covidien for a long time in the future, the consolidation of the industry is still very obvious.
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