Medtech Market
Due to the persistent shifts in the demographic landscape, characterized by an aging population and elevated average life expectancy, a continued robust expansion of the medical market is anticipated. This phenomenon contributes to heightened demand for medical services, resulting in an escalation of healthcare expenditures and a concomitant surge in the requisition for technologies and medical products that were previously relegated to niche markets. Presently, within the European Union, among its 448 million inhabitants, 20% comprise individuals aged 65 and above. Projections indicate an anticipated elevation of this percentage to 30% in the coming years.
“The cardiology and cardiac surgery sector holds a key position on the medical devices market.“
Medinice is facing the challenges of an aging population and the increasing number of cardiovascular diseases. They are our inspiration to create modern solutions that will not only improve the quality of life of patients, but also consolidate our position on the medical devices market. The dynamic development of the global MedTech market, especially in the field of cardiac devices, opens up many opportunities for us.
Market growth
In 2022, the global MedTech market reached a value of USD 512 billion, growing by an average annual rate of nearly 6%. Cardiac surgical devices, the second largest segment of the MedTech market, reached a value of USD 55 billion, and its growth is 9% and is expected to provide this sector with a size of approx. USD 90 billion in 2030.
Global epidemic
The global epidemic of cardiovascular diseases is already entering its third decade. According to estimates by the New American Heart Association, over 33 million people worldwide suffer from atrial fibrillation. One of the most effective non-pharmacological methods of treating atrial fibrillation is ablation and CIED implantation. The annual growth rate of atrial fibrillation ablations is almost 16%. The total number of implantations of medical devices for the treatment of atrial fibrillation is approximately 1.3 million per year.
Real need
Cardiovascular diseases are the most common cause of death in the world. Over the last 30 years, the share of deaths caused by cardiovascular diseases in the world has increased by 41% According to the Institute for Health Metrics and Evaluation in 2016 cardiovascular diseases accounted for 32.3% of all deaths worldwide.
All products developed by Medinice are intended to contribute to eliminating the above global problems. We hope that thanks to our work and commitment we will be able to improve the quality of life of many people around the world.
