Biotech Brief: U.S. Medical Technology Market Projected To Exceed $200 Billion By 2023
Soliton, Inc. (SOLY)
Company Research
Source: PR Newswire
PALM BEACH, Florida, Oct. 8, 2019 /PRNewswire/ -- Medical device manufacturing remains a strong market, driven by technological developments, an aging population, and increases in chronic and lifestyle diseases – trends that expand healthcare spending. While the global market is projected to continue its rapid growth, it is the U.S. that has the largest share of the global market at approximately 40% of the worldwide revenues. An article in MEDTECHDIVE said that Fitch Solutions forecasted that: " the U.S. medical device market will achieve a compound annual growth rate of 4.9% over the coming years, leading to its value to top $200 billion in 2023. Fitch's forecast that the medical device market will outpace the broader economy is based on certain demographic trends and regulatory changes — including faster review times and the suspension of the 2.3% medical device excise tax — that the group predicts will fuel growth." Most investors are concerned about the short and maybe long term
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