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The total global medical technology growth per year is expected to be at 5 percent in the year 2022. The growth rate of the global medical technology has been variable since 2010 with growth ranging from 8 percent to -2 percent. Even though the medical technology industry has had variable growth in the last years, the industry remains strong with many products and companies involved.

Global medical technology industry

Medical technology is an industry that encompasses any kind of technology used in medicine. Products range from diagnostics to medical devices and surgical technology, to name a few. There are many companies and a large number of medical technology products available to consumers and doctors. Medical technology is a growing industry and trends indicate that it will continue to grow in the future. Currently, Medtronic is the leading medical technology company based on revenue, followed by Johnson & Johnson.

Medical technology segments

There are many key medical technology companies manufacturing products used in prevention, diagnosis, monitoring, treatment and care. Among medical technology companies that produce in vitro diagnostic, Roche was the top company based on market share in 2017. Among companies that produce cardiologic medical technology, Medtronic was the leading company during that same time. Finally, among diagnostic imaging companies, Siemens was the leading company during that time.