Business Analysis and Data Technology as a Concept

Industry Trends: By the numbers

$208B Expected size of US medical device market by 2023

The US medical device market is expected to grow to $208 billion in the next few years. US exports of medical devices in key product categories identified by the Department of Commerce exceeded $43 billion in 2018.  The industry includes almost 2 million jobs in the United States.

Source: SelectUSA, Medical Technology Spotlight

$13.8B Funding for Digital Health

Over $13B in deals for digital health investments were catalogued in 2020 by MobiHealthNews.  Verily, Bright Health, Olive, everlywell and Citiblock Health ring in key raises.

10.5% The current incidence of high total cholesterol in U.S. adults

According to the National Health and Nutrition Examination Surveys (NHANES), high cholesterol levels in American adults have decreased from over 18% to about 10.5% since 1999.

Source: CDC National Center for Health Statistics

$21,342 Average annual premiums for employer-sponsored health coverage

Annual premiums for employer-sponsored family health coverage reached $21,342 in 2020, up 4% from 2019, with workers on average paying $5,588 toward the cost of their coverage. The average deductible among covered workers in a plan with a general annual deductible is $1,644 for single coverage. Fifty-five percent of small firms and 99% of large firms offer health benefits to at least some of their workers, with an overall offer rate of 56%.  

Source: Kaiser Family Foundation Employer Health Benefits 2020

21.6% Expected CAGR of global fitness app market 2021-2028

The global fitness app market size was valued at $4.4B in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.6% from 2021 to 2028. The spread of the COVID-19 pandemic resulted in nationwide lockdowns and social distancing norms. This has led to a transition to virtual fitness from traditional studios and gyms, increasing the downloads and usage of fitness apps.  

SOURCE: Grandview Research, “Fitness App Market Size,” January 2021

200 New applications for gene and cell therapies per year

It’s expected that there will be about 200 applications for gene and cell therapies for the next several years. The number of approvals for proprietary medical algorithms is rising, and an AI algorithm embedded on-device was recently approved.

Source: Deloitte Insights, “2020 Global Life Sciences Outlook”

120 Number of people per doctor in the Americas

The Americas had the lowest number of people per doctor of any region. Europe was slightly higher, at 123, Western Pacific at 275, Southeast Asia at 559, Eastern Mediterranean  at 690, and Africa at 985.


Source: World Health Organization, “World Health Statistics 2020”


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