Medical technology sales to hit $500B within 5 years: 4 takeaways

The global medical device and technology market will surpass $500 billion in sales by 2021, according to a recent analysis from the London-based research firm Evaluate.

Here are four things to know.

1. Analysts predict the market will grow by 5 percent or more annually, reaching almost $530 billion in 2022.
   
   
2. Analysts expect the amount medtech companies spend on research and development will grow by 4.3 percent annually, hitting $34 billion in 2022.

3. The report indicates 12 out of the 20 largest medtech companies had negative growth from 2014 to 2015. Analysts said this negative growth led many investors to pressure companies to either merge or cut costs, causing a spur in mergers and acquisitions in 2015, according to a Forbes report.
   
   
4. In the first six months of 2016, merger and acquisition activity dropped by almost 80 percent to $17 billion, according to the analysis.
   
   

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