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Med Tech

A global market worth US$200 billion, built on innovation

The MedTech market has revenues of $200 billion per annum and posts annual growth of 5 to 6 % in developed countries and from 15 to 20 % in emerging markets. This growth, buoyed by the aging Western population and the swell in the middle classes in emerging markets, is particularly strong in the case of products based on innovative technology (12 to 25 % growth per annum). Although the MedTech market and its US$200 billion in revenue are overshadowed by the pharmaceutical industry (US$800 billion), it has the advantage of having a more flexible regulatory framework and of offering much faster returns on investment – the cycle for developing a medical device lasts an average of 18 months compared with 120 months for a medicine – and a lower failure rate, since only 1/1,000 of compounds having reached the preclinical phase are given the green light for human testing whereas 67 % of class III medical devices (implantable and/or life-sustaining) are granted authorization for sale in the United States.

A strong growth segment of the MedTech industry: in vitro diagnostics

In vitro diagnostics is an indispensable tool in clinical practice: 60 to 70 % of data used in clinical decision-making are obtained using in vitro diagnostics. In vitro diagnostics allows medical information to be extracted from blood, urine or skin samples taken from the patient and in vitro diagnostic testing is carried out in laboratories or directly by the patient using a number of home-testing kits (blood sugar, pregnancy, etc.). The second largest segment of the medical device market and turning in US$60 billion in 2010, it is expected to reach US$90 billion in 2015.


Composition of the med-tech market.
The in vitro diagnostics market segment represents 30 % of the global market

 
medtech_quattrocento_logoPLAN cooperates with Quattrocento for its business development in The Middle East and Central Asia. Quattrocento is the industrialist with the power to bridge the gap between this high-quality research and the life sciences equipment market so full of promise.

 

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