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Device Makers Strategies to Remain Competitive—M&A and Therapy-Based Engagements

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by Piyush Tiwari , Senior Research Analyst, CMO Formulations
21 February 2018

Introduction

The global medtech devices market has been valued at $371 billion for 2016 with CAGR 5–6 percent, of which drug delivery devices accounted for approximately 5 percent, valued at $17.6 billion in 2016, and forecasted to reach $24 billion by 2022. In the forecasted approximation, medical device contract development and manufacturing will play an important role, which has been forecasted to increase to 22 percent of the overall medical device market by 2021. The forecast also provides an indication that the nature of the engagement will not remain tactical, but strategic. This paper will examine the strategies deployed by medical device companies in order to remain competitive in an ever-evolving medical devices market.   

What is Driving the Global Medical Devices Market? 

The growth rate assigned to the global drug delivery market is approximately 7–8 percent for the next five years. Several factors are considered to drive this consumption of devices, which will facilitate the delivery of life-saving drugs. Some of them are follows: 

  • Increasing consumption of generic drugs through drug delivery devices
  • Rising middle class in emerging markets
  • Aging population in developed market
  • Increased occurrence of chronic and rare diseases  
  • Development and availability of self-administration devices
  • Development of combination therapies; that is, one-third of all medication in development
  • Integration of technology with conventional device
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