From 2013 to 2020, the world's medical device industry compound annual growth rate (CAGR) will reach 5%, and by 2020 the market size will reach 514 billion US dollars. 2014 was an exciting year for the global medical device industry. The amount of M&A in the medical device sector completed in the first half of 2014 increased by 363% over the same period of the previous year. US FDA pre-market approval for recovery The regulatory situation is also undergoing major changes. After experiencing disappointing first pre-market approvals (PMAs) in 2013, the FDA became more open in 2014, and by the end of August 2014 it had passed the first approval of 20, an increase of 43% over the same period last year. The FDA has also made a number of efforts to speed up the approval process, including streamlining the regulatory process and proposing an accelerated first-time approval program. Billions of dollars in IPO Although the ultimate goal of some of the medical device companies in the early stages of development is still to be acquired by large companies, maintaining independence and listing has become a trend in the market. In the first half of 2014, IPOs in the medical device sector raised a total of $1.3 billion, an increase of 44% from the $900 million for the full year of 2013. The global medical device market is undergoing rapid changes and is affected by mergers and acquisitions among enterprises. The market for cardiac products and orthopedic products is almost unrecognizable. By 2020, the global medical device market will exceed 500 billion US dollars, and in vitro diagnostic products will remain the largest area. The scale of the global medical device market in 2020 The global medical device market is expected to grow at a compound annual growth rate of 5% from 2013 to 2020. In vitro diagnostic products (IVD) will remain the largest sub-sector in the market, with sales reaching $71.6 billion by 2020. To 14% of the global medical device market, the IVD market will grow at a rate of 6.1% per year. The fastest growth will be in the neurological product market, which will grow at a compound annual growth rate of 7.1% and reach a market size of $9.8 billion by 2020.
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Observing the development prospects of the medical device market