Compiled by Cari Kraft, Jacobs Management Group, Inc.
The five highest fines for medtech companies in 2014 and 2015 so far resulted in a total of $252.1 million .
Some medtech companies have paid a hefty price for alleged bad behavior, including bribery, selling without regulatory approval, and securities fraud.
Source: “5 Highest Fines in Medtech.” DeviceTalk. N.p., 17 June 2015. Web. 19 Aug. 2015; “5 Highest Fines in MedTech,” Medical Device and Diagnostic Industry, June 2015
19.7M TO 158.4M
Medical video consultations and visits could reach 158.4M annually by 2020.
Medical video consultations and visits will increase from 19.7 million annually in 2014 to 158.4 million per year by 2020, according to a report from Tractica.
Source: Pai, Aditi. “Number of medical video consultations, visits to reach 158M annually by 2020” Mobihealthnews. N.p., 24 June 2015. Web. 19 Aug. 2015
Johnson & Johnson expects 10 new drugs to be launched by 2019, each with the potential to exceed $1 billion in revenue.
J&J also plans more than 40 line extensions of existing and new medicines.
Source: Belvedere, Matthew. “J&J: 10 New Drugs by 2019, Each with $1B Potential.” CNBC, 20 May 2015. Web. 14 Aug. 2015
Health applications for Android and iOS allow for new possibilities to emerge .
The number of Android and iOS mHealth apps in 2014 was more than 100,000. In the past two and a half years, just 5,000 of these apps earned $1 million or more in revenue. By 2017, experts predict mHealth spending will be in the tens of billions.
Source : Miseta, Ed. “How Important Will MHealth Be To Pharma?” Clinical Leader, 11 June 2015. Web. 14 Aug. 2015
Fitness Tracker Revenue Will Top $5B.
The global revenues for smartphoneconnected fitness tracking devices and equipment will grow from $2 billion in 2014 to $5.4 billion by 2019, according to report from research firm Parks Associates
Source: Pai, Aditi. “Fitness Tracker Device Revenue to Reach $5.4B by 2019.”Mobihealthnews RSS. N.p., 25 Mar. 2015. Web. 19 Aug. 2015
Medtronic is now the undisputed industry leader by market cap, medtech sales, and staff numbers.
This is due to its purchase of Covidien, the largest acquisition in the sector’s history.
Source: McCann, Erin. “Digital Health Venture Cash Keeps pace with 2014.”Healthcare IT News. N.p., 7 July 2015. Web. 19 Aug. 2015
Telehealth to drive global home healthcare market to $355.3B by 2020. The global home healthcare market is expected to reach $355.3 billion by 2020, growing at an estimated CAGR (compound annual growth rate) of 7.8 percent from 2014 to 2020.
Source: Mobihealthnews RSS. 26 June 2015. Web. 19 Aug. 2015