According to Deloitte experts, the value of the global medical devices market will increase to $612.7 billion by 2025. In the years 2019-2024, the global revenue of prescription drug manufacturers will be $1.18 trillion.
Oncology drugs remain the driving force behind the growth of the pharmaceutical industry. It is expected that by 2024 they will have almost 20 percent of share in the global pharmaceutical sales market. At the same time, as shown by the Deloitte consulting company report '2020 Global life sciences outlook. Creating new value. Building blocks for the future’, this sector is under increasing price pressure and the requirement of increased efficiency, which is related to, among others with investments in research and development.
The issue of finding medicines for Covid-19 disease caused by SARS-CoV-2 coronavirus is also not without influence on the development of the industry. As Deloitte experts note, the role of organizations operating in the field of medical technologies will also increase in relation to the current situation.
“In the coming years, emerging markets will focus on domestic techmed companies. An example could be China, which wants to see that in 2020 medical devices manufactured in the country make half of all medical devices used in hospitals, and by 2025 they reached 70 percent,” says Maciej Dalecki, Director in the Financial Advisory department at Deloitte.