CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - France

  • ID: 2559792
  • Report
  • Region: France
  • 234 Pages
  • GlobalData
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CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - France

Summary:

Pharmaceuticals market in France is set to decline from $35.5 billion in 2017 to $34.16 billion in 2021, representing a negative compound annual growth rate of 1%.

Despite France’s robust public health insurance system and rising elderly population, increasing pressure on pharmaceutical selling prices, patent expiration of branded drugs and foreign exchange fluctuations are stifling growth. The government is currently focusing on the use of generics as a cost-containment tool to reduce healthcare expenditure. Indeed, the generics market is mainly driven by a favorable regulatory regime and a continuous wave of patent expiries, acting as a barrier to pharmaceutical market growth.

France follows external reference pricing, which is linked with other European countries such as Germany, Spain, Italy, and the UK. A price cut by any of these countries’ governments will quickly translate into price reductions in France, and repeated price cuts have curtailed the rise in healthcare spending.

France’s reimbursement policy is grounded in clinical effectiveness rather than the cost-versus-benefit approach that other countries such as the US and the UK employ. This means that pharmaceutical companies take a higher risk in order to see returns on innovative products, and new drugs have to demonstrate a level of improvement over existing products, which can be seen as a deterrent to investment.

Healthcare companies looking for opportunities within the French market should focus on the growing demand for innovative medicine and biotechnology, which will enable new therapies to command a premium price and influence the value of the market. Financial incentives and tax credits from the French government to support pharmaceutical R&D will promote new prospects for small biotechnology companies, a growing number of which have been operating in France over the past decade.

Scope:

The report provides information on the healthcare, regulatory, and reimbursement landscape in France, and includes -
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Novartis, Sanofi, Pfizer, Merck & Co. and Mylan; and profiles and SWOT analyses of the major players in the medical device market: B. Braun Melsungen, Medtronic, Roche, Johnson & Johnson and GlaxoSmithKline (GSK)
- An insightful review of the reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices
- Detailed analysis of the country’s political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the French healthcare market

Reasons to buy

This report will enhance your decision-making capability by allowing you to -
- Develop business strategies by understanding the trends shaping and driving French healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact France’s healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership
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1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Executive Summary
3 Introduction
3.1 GlobalData Report Guidance
4 Overview of Pharmaceutical and Medical Device Markets
4.1 Pharmaceutical Market
4.1.1 Market Overview
4.1.2 Pharmaceutical Exports and Imports
4.1.3 Supply Channels
4.1.4 Market Segments
4.1.5 Major Therapeutic Areas
4.1.6 Major Players
4.2 Medical Device Market
4.2.1 Market Overview
4.2.2 Overview of Top Five Segments
4.2.3 Major Players
4.3 Market Drivers and Barriers
4.3.1 Drivers
4.3.2 Barriers
5 Market Access
5.1 Overview of Healthcare system
5.1.1 Reimbursement Process
5.1.2 Overview of Insurance Providers
5.1.3 Patient Share in Healthcare Expenditure
5.1.4 Price Trends in the Healthcare Sector
5.1.5 Pricing Policies
5.2 Regulatory Landscape
5.2.1 Overview of Regulatory Agencies
5.2.2 Market Authorization Procedure for Pharmaceutical Products
5.2.3 New Medical Device Approval Process
5.2.4 Licensing Process for Pharmaceutical and Medical Device Manufacturing
5.2.5 Exports and Imports
5.2.6 Intellectual Property Rights
5.2.7 Clinical Trial Regulations
5.2.8 Pharmaceutical Advertising Regulations
5.2.9 Pharmacy Regulations
5.2.10 Labeling and Packaging Regulations
6 Country Analysis
6.1 Political Environment
6.1.1 Political Structure
6.1.2 Current Political Environment
6.1.3 Healthcare Policy Initiatives
6.2 Economic Landscape
6.3 Economic Indicators
6.3.1 Gross Domestic Product
6.3.2 Gross National Income
6.3.3 Inflation
6.3.4 Currency Exchange Rate
6.3.5 Foreign Direct Investment
6.3.6 Foreign Exchange Reserves
6.3.7 Trade Balance
6.3.8 Government Structural Balance
6.3.9 Government Net Debt
6.3.10 Major Industries
6.4 Demographics
6.4.1 Population
6.4.2 Education and Literacy
6.4.3 Employment
6.4.4 Disease Burden
6.5 Healthcare Infrastructure
6.5.1 Healthcare Facilities
6.5.2 Healthcare Parameters
6.5.3 Environmental Health
6.5.4 Healthcare Personnel
6.6 Healthcare Expenditure
6.6.1 Overview
6.6.2 Share of Public and Private Sectors
6.6.3 Major Components of Healthcare Expenditure
6.6.4 Spending in Pharmaceutical R&D
6.7 Trade Associations
6.7.1 France Biotech
6.7.2 French Medical Device Association
6.7.3 French Pharmaceutical Association
6.8 Trade Fairs
7 Opportunities and Challenges
7.1 Opportunities
7.2 Challenges
8 Appendix
8.1 Abbreviations
8.2 Bibliography
8.3 Research Methodology
8.3.1 Coverage
8.3.2 Secondary Research
8.3.3 Forecasts
8.3.4 Expert Panel
8.4 Contact Us
8.5 Disclaimer

1.1 List of Tables
Table 1: Pharmaceutical Market, France, Revenue ($bn), 2009-2016
Table 2: Pharmaceutical Market, France, Revenue ($bn), 2017-2021
Table 3: Pharmaceutical Market, France, Exports and Imports ($bn), 2009-2016
Table 4: Pharmaceutical Market, France, Generic Pharmaceutical Market Share (%), 2009-2016
Table 5: Pharmaceutical Market, France, Market Share of Generics Sold in City Pharmacies (%), 2015
Table 6: Pharmaceutical Market, France, Authorized Biosimilars 2015
Table 7: Pharmaceutical Market, France, OTC Drug Market Revenue ($bn), 2009-2016
Table 8: Pharmaceutical Market, France, Major OTC Drug Classes, Revenue ($bn) and Share (%), 2015
Table 9: Pharmaceutical Market, France, Revenue by Major Therapeutic Areas ($bn), 2013
Table 10: Major Products, Novartis, Global, 2016
Table 11: Late-Stage Pipeline, Novartis, Global, 2015
Table 12: Major Products, Sanofi, Global, 2015
Table 13: Late-Stage Pipeline, Sanofi, Global, 2015
Table 14: Pharmaceutical Market, Pfizer, Late-Stage Pipeline, 2016
Table 15: Pharmaceutical Market, Merck & Co., Global, Major Products, 2015
Table 16: Pharmaceutical Market, Merck & Co., Global, Late-Stage Pipeline, 2016
Table 17: Medical Device Market, France, Revenue ($bn), 2009-2016
Table 18: Medical Device Market, France, Revenue ($bn), 2017-2021
Table 19: Medical Device Market, France, Revenue ($m) and Market Share (%) by Segment, 2016
Table 20: In Vitro Diagnostics Market, France, Revenue ($m), 2009-2016
Table 21: In Vitro Diagnostics, France, Revenue ($m) and Market Share (%) of Major Players, 2014
Table 22: Orthopedic Device Market, France, Revenue ($m), 2009-2016
Table 23: Orthopedic Devices, France, Revenue ($m) and Market Share (%) of Major Players, 2015
Table 24: Cardiovascular Device Market, France, Revenue ($m), 2009-2016
Table 25: Cardiovascular Devices, France, Revenue ($m) and Market Share (%) of Major Players, 2015
Table 26: Wound Care Management Devices, France, Revenue ($m), 2009-2016
Table 27: Wound Care Management Devices, France, Revenue ($m) and Market Share (%) of Major Players, 2012
Table 28: Ophthalmic Device Market, France, Revenue ($m), 2009-2016
Table 29: Ophthalmic Device Market, France, Revenue ($m) and Market Share (%) of Major Players, 2015
Table 30: Medical Device Market, France, Revenue ($m) and Market Share (%) of Major Players, 2012
Table 31: Medical Device Market, Medtronic, Major Products, 2015
Table 32: Roche, Global, Major Products, 2016
Table 33: Medical Device Market, Roche, Global, Late-Stage Pipeline, 2016
Table 34: Market Access, France, Drug Reimbursement Categories and Rates (%), 2014
Table 35: Market Access, France, Source of Public Health Insurance Funding (%), 2015
Table 36: Healthcare Expenditure, France, Out-of-Pocket Expenditure (%), 2009-2016
Table 37: Market Access, France, Healthcare Consumer Price Index Annual Change (%), 2009-2015
Table 38: Economic Indicators, France, GDP per Capita ($), 2009-2016
Table 39: Economic Indicators, France, GDP per Capita ($), 2017-2021
Table 40: Economic Indicators, France, GDP Annual Growth (%), 2009-2016
Table 41: Economic Indicators, France, GDP Annual Growth (%), 2017-2021
Table 42: Economic Indicators, France, GNI per Capita ($), 2009-2016
Table 43: Economic Indicators, France, Consumer Price Index, 2009-2016
Table 44: Economic Indicators, France, Average Consumer Price Index, 2017-2021
Table 45: Economic Indicators, France, Average Consumer Price Index Annual Change (%), 2009-2016
Table 46: Economic Indicators, France, Average Consumer Price Index, Annual Change (%), 2017-2021
Table 47: Economic Indicators, France, Currency Exchange Rate (€/$), 2009-2016
Table 48: Economic Indicators, France, Foreign Direct Investment ($bn), 2009-2016
Table 49: Economic Indicators, France, Foreign Exchange Reserves ($bn), 2009-2016
Table 50: Economic Indicators, France, Imports of Goods and Services ($bn), 2009-2016
Table 51: Economic Indicators, France, Exports of Goods and Services ($bn), 2009-2016
Table 52: Economic Indicators, France, General Government Structural Balance ($bn), 2009-2016
Table 53: Economic Indicators, France, Government Net Debt as a Percentage of GDP (%), 2009-2016
Table 54: Economic Indicators, France, Government Net Debt as a Percentage of GDP (%), 2017-2021
Table 55: Economic Indicators, France, Value Added by Major Industries ($bn), 2014
Table 56: Demographics, France, Population (million), 2009-2016
Table 57: Demographics, France, Population (million), 2017-2021
Table 58: Demographics, France, Urban-Rural Population Share (%), 2009-2016
Table 59: Demographics, France, Urban-Rural Population Share (%), 2017-2021
Table 60: Demographics, France, Population Distribution by Age Group (%), 2009-2016
Table 61: Demographics, France, Population Distribution by Age Group (%), 2017-2021
Table 62: Demographics, France, Births (per 1,000 Population), 2009-2016
Table 63: Demographics, France, Mortality (per 1,000 Population), 2009-2016
Table 64: Demographics, France, Major Causes of Mortality (%), 2013
Table 65: Demographics, France, Mortality Rate of Children Under Five (per 1,000 live births), 2009-2016
Table 66: Demographics, France, Immunization Rate (%), 2009-2016
Table 67: Demographics, France, Major Causes of Male Mortality (%), 2012
Table 68: Demographics, France, Major Causes of Female Mortality (%), 2012
Table 69: Demographics, France, Gender Ratio (M/F), 2009-2016
Table 70: Demographics, France, Life Expectancy at Birth (years), 2009-2016
Table 71: Demographics, France, Life Expectancy at Birth (years), 2017-2021
Table 72: Demographics, France, Number of Students by Level of Education (million), 2009-2016
Table 73: Demographics, France, Student Enrollment by Specialization (%), 2015
Table 74: Demographics, France, Unemployment Rate (%), 2009-2016
Table 75: Demographics, France, Disability-Adjusted Life Years by Major Disease (‘000), 2012
Table 76: Healthcare Infrastructure, France, Hospitals, 2009-2016
Table 77: Healthcare Infrastructure, France, Public and Private Hospitals, 2009-2016
Table 78: Healthcare Infrastructure, France, Private Sector Hospitals, 2009-2016
Table 79: Healthcare Infrastructure, France, Hospitals Beds by Sector, 2009-2016
Table 80: Healthcare Infrastructure, France, Diagnostic Units, 2009-2016
Table 81: Healthcare Infrastructure, France, Diagnostic Centers, 2009-2016
Table 82: Healthcare Infrastructure, France, Hospitals Beds (per 1,000 population), 2009-2016
Table 83: Healthcare Infrastructure, France, Doctors (per 1,000 population), 2009-2016
Table 84: Healthcare Infrastructure, France, PM2.5 (µg per m³), 2009-2016
Table 85: Healthcare Infrastructure, France, CO2 Emissions (metric tons per capita), 2009-2016
Table 86: Healthcare Infrastructure, France, Nurses (per 1,000 population), 2009-2016
Table 87: Healthcare Infrastructure, France, Pharmacists, 2009-2016
Table 88: Healthcare Infrastructure, France, Dentists, 2009-2016
Table 89: Healthcare Infrastructure, France, Healthcare Expenditure as Percentage of GDP (%), 2009-2016
Table 90: Healthcare Infrastructure, France, Public-Private Share of Expenditure (%), 2009-2016
Table 91: Healthcare Infrastructure, France, Major Components of Healthcare Expenditure (%), 2015
Table 92: Healthcare Infrastructure, France, Pharmaceutical R&D Expenditure ($ per capita), 2009-2016
Table 93: Healthcare Expenditure, France, Major Healthcare Trade Fairs, 2017

1.2 List of Figures
Figure 1: Pharmaceutical Market, France, Revenue ($bn), 2009-2021
Figure 2: Medical Device Market, France, Revenue ($bn), 2009-2021
Figure 3: Country Profile, France, 2016
Figure 4: Pharmaceutical Market, France, Revenue ($bn), 2009-2016
Figure 5: Pharmaceutical Market, France, Revenue ($bn), 2017-2021
Figure 6: Pharmaceutical Market, France, Exports and Imports ($bn), 2009-2016
Figure 7: Pharmaceutical Market, France, Distribution Channels (%), 2016
Figure 8: Pharmaceutical Market, France, Generic Pharmaceutical Market Share (%), 2009-2016
Figure 9: Pharmaceutical Market, France, OTC Drug Market Revenue ($bn), 2009-2016
Figure 10: Pharmaceutical Market, France, Major OTC Drug Classes (Share%), 2015
Figure 11: Pharmaceutical Market, France, Revenue by Major Therapeutic Areas ($bn), 2013
Figure 12: Medical Device Market, France, Revenue ($bn), 2009-2016
Figure 13: Medical Device Market, France, Revenue ($bn), 2017-2021
Figure 14: Medical Device Market, France, Revenue by Segment ($m), 2016
Figure 15: In Vitro Diagnostics Market, France, Revenue ($m), 2009-2016
Figure 16: In Vitro Diagnostics, France, Market Share of Major Players (%), 2014
Figure 17: Orthopedic Device Market, France, Revenue ($m), 2009-2016
Figure 18: Orthopedic Device Market, France, Market Share of Major Players (%), 2015
Figure 19: Cardiovascular Device Market, France, Revenue ($m), 2009-2016
Figure 20: Cardiovascular Devices, France, Market Share of Major Players (%), 2015
Figure 21: Wound Care Management Devices, France, Revenue ($m), 2009-2016
Figure 22: Wound Care Management Devices, France, Market Share of Major Players (%), 2012
Figure 23: Ophthalmic Device Market, France, Revenue ($m), 2009-2016
Figure 24: Ophthalmic Device Market, France, Market Share of Major Players (%), 2015
Figure 25: Medical Device Market, France, Revenue of Major Players ($m), 2012
Figure 26: Healthcare Market, France, Drivers and Barriers, 2017
Figure 27: Market Access, France, Healthcare System, 2014
Figure 28: Market Access, France, Key Influencers in Reimbursement Procedure, 2016
Figure 29: Market Access, France, Pricing and Reimbursement Process, 2016
Figure 30: Market Access, France, Roles of Transparency Commission in Reimbursement Procedure, 2014
Figure 31: Market Access, France, Pricing Procedure, 2016
Figure 32: Market Access, France, Public Health Insurance Schemes, 2015
Figure 33: Market Access, France, Source of Public Health Insurance Funding (%), 2015
Figure 34: Healthcare Expenditure, France, Out-of-Pocket Expenditure (%), 2009-2016
Figure 35: Market Access, France, Healthcare Consumer Price Index Annual Change (%), 2009-2015
Figure 36: Market Access, France, Organizational Structure of the Drug Regulatory Authority, 2016
Figure 37: Market Access, EU, Centralized Procedure for Market Authorization, Pre-Submission, 2016
Figure 38: Market Access, EU, Centralized Procedure, Market Authorization, Pre-opinion Phase, 2016
Figure 39: Market Access, EU, Centralized Procedure, Market Authorization, Post-opinion Phase, 2016
Figure 40: Market Access, EU, Decentralized Procedure, Market Authorization, 2016
Figure 41: Market Access, EU, Conformity Assessment of Class I Medical Devices, 2016
Figure 42: Market Access, EU, Conformity Assessment of Class IIa Medical Devices, 2016
Figure 43: Market Access, EU, Conformity Assessment of Class IIb Medical Devices, 2016
Figure 44: Market Access, EU, Conformity Assessment of Class III Medical Devices, 2016
Figure 45: Market Access, France, Patent Approval Process, 2016
Figure 46: Market Access, France, Trademark Approval Process, 2016
Figure 47: Economic Indicators, France, GDP Per Capita ($), 2009-2016
Figure 48: Economic Indicators, France, GDP per Capita ($), 2017-2021
Figure 49: Economic Indicators, France, GDP Annual Growth (%), 2009-2016
Figure 50: Economic Indicators, France, GDP Annual Growth (%), 2017-2021
Figure 51: Economic Indicators, France, GNI per Capita ($), 2009-2016
Figure 52: Economic Indicators, France, Consumer Price Index, 2009-2016
Figure 53: Economic Indicators, France, Average Consumer Price Index, 2017-2021
Figure 54: Economic Indicators, France, Average Consumer Price Index, Annual Change (%), 2009-2016
Figure 55: Economic Indicators, France, Average Consumer Price Index, Annual Change (%), 2017-2021
Figure 56: Economic Indicators, France, Currency Exchange Rate (€/$), 2009-2016
Figure 57: Economic Indicators, France, Foreign Direct Investment ($bn), 2009-2016
Figure 58: Economic Indicators, France, Foreign Exchange Reserves ($bn), 2009-2016
Figure 59: Economic Indicators, France, Imports of Goods and Services ($bn), 2009-2016
Figure 60: Economic Indicators, France, Exports of Goods and Services ($bn), 2009-2016
Figure 61: Economic Indicators, France, Government Structural Balance ($bn), 2009-2016
Figure 62: Economic Indicators, France, Government Net Debt as a Percentage of GDP (%), 2009-2016
Figure 63: Economic Indicators, France, Government Net Debt as a Percentage of GDP (%), 2017-2021
Figure 64: Economic Indicators, France, Value Added by Major Industries ($bn), 2014
Figure 65: Demographics, France, Population (million), 2009-2016
Figure 66: Demographics, France, Population (million), 2017-2021
Figure 67: Demographics, France, Urban-Rural Population Share (%), 2009-2016
Figure 68: Demographics, France, Urban-Rural Population Share (%), 2017-2021
Figure 69: Demographics, France, Population Distribution by Age Group (%), 2009-2016
Figure 70: Demographics, France, Population Distribution by Age Group (%), 2017-2021
Figure 71: Demographics, France, Births (per 1,000 Population), 2009-2016
Figure 72: Demographics, France, Mortality (per 1,000 Population), 2009-2016
Figure 73: Demographics, France, Major Causes of Mortality (%), 2013
Figure 74: Demographics, France, Mortality Rate of Children Under Five (per 1,000 live births), 2009-2016
Figure 75: Demographics, France, Immunization Rate (%), 2009-2016
Figure 76: Demographics, France, Major Causes of Male Mortality (%), 2012
Figure 77: Demographics, France, Major Causes of Female Mortality (%), 2012
Figure 78: Demographics, France, Gender Ratio (M/F), 2009-2016
Figure 79: Demographics, France, Life Expectancy at Birth (years), 2009-2016
Figure 80: Demographics, France, Life Expectancy at Birth (years), 2017-2021
Figure 81: Demographics, France, Number of Students by Level of Education (million), 2009-2016
Figure 82: Demographics, France, Student Enrollment by Specialization (%), 2015
Figure 83: Demographics, France, Unemployment Rate (%), 2009-2016
Figure 84: Demographics, France, Major Diseases, Disability-Adjusted Life Years by Major Disease (‘000s), 2012
Figure 85: Healthcare Infrastructure, France, Hospitals, 2009-2016
Figure 86: Healthcare Infrastructure, France, Public and Private Hospitals, 2009-2016
Figure 87: Healthcare Infrastructure, France, Private Sector Hospitals, 2009-2016
Figure 88: Healthcare Infrastructure, France, Hospitals Beds by Sector, 2009-2016
Figure 89: Healthcare Infrastructure, France, Diagnostic Units (per million population), 2009-2016
Figure 90: Healthcare Infrastructure, France, Diagnostic Centers, 2009-2016
Figure 91: Healthcare Infrastructure, France, Hospitals Beds (per 1,000 population), 2009-2016
Figure 92: Healthcare Infrastructure, France, Doctors (per 1,000 population), 2009-2016
Figure 93: Healthcare Infrastructure, France, PM2.5 (µg per m³), 2009-2016
Figure 94: Healthcare Infrastructure, France, CO2 Emissions (metric tons per capita), 2009-2016
Figure 95: Healthcare Infrastructure, France, Nurses (per 1,000 population), 2009-2016
Figure 96: Healthcare Infrastructure, France, Pharmacists, 2009-2016
Figure 97: Healthcare Infrastructure, France, Dentists, 2009-2016
Figure 98: Healthcare Infrastructure, France, Healthcare Expenditure as Percentage of GDP (%), 2009-2016
Figure 99: Healthcare Infrastructure, France, Public-Private Share of Expenditure (%), 2009-2016
Figure 100: Healthcare Infrastructure, France, Major Components of Healthcare Expenditure (%), 2015
Figure 101: Healthcare Infrastructure, France, Pharmaceutical R&D Expenditure ($ per capita), 2009-2016
Figure 102: Healthcare Market, France, Opportunities and Challenges,
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France has a mature healthcare market, based on its high healthcare expenditure and pharmaceutical production. The increasingly elderly population is expected to drive the growth of the pharmaceutical market; however, an increasing focus on generics to reduce healthcare expenditure will balance this out.

The French pharmaceutical market was valued at $48.9 billion in 2008 and an estimated $45.9 billion in 2013. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 0.7% from approximately $46.2 billion in 2014 to $48.2 billion in 2020.

The public health insurance system was established in 1945, and by 2011, approximately 97% of the population was covered under Statutory Health Insurance (SHI), divided into three main schemes: general, agriculture, and non-salaried and non-farming (World Bank, 2014p). This universal healthcare coverage is expected to continue to drive the French pharmaceutical market. The increasingly elderly population is also fueling pharmaceutical market growth, accounting for 17.6% of the total population in 2013 and expected to increase at a CAGR of 1.5% to 19.7% by 2020 (INSEE, 2014f).

The government is focusing on the use of generics as a cost-containment tool to reduce healthcare expenditure. It introduced a scheme in September 2012 to increase the use of generic drugs, under which patients who agree to generic substitution will not be required to pay for their drugs. The substitution rate increased from 71% to 84% in one year as a result: a cost saving of approximately €200m ($270m) (Thomson, et al., 2013). In 2008, generic drugs accounted for 9.4% of the pharmaceutical market in terms of value and 21.7% in terms of volume, increasing to an estimated 15.3% and 27.7% respectively in 2013 (ANSM, 2013). However, this is expected to act as a barrier to the growth of the pharmaceutical market.

The French medical device market was valued at $12.7 billion, which increased to $15.5 billion in 2013. It is projected to grow at a CAGR of 5.1% from $16.2 billion in 2014 to $21.8 billion in 2020. In 2013, In Vitro Diagnostics (IVD) accounted for 15.3% of the overall medical device market, followed by cardiovascular devices (11.4%), ophthalmic devices (10.7%), orthopedic devices (8.4%) and hospital supplies (7.4%).
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