The total value of the global medtech market is expected to reach $477.5 billion by 2020, growing at an annual rate of 4.1% over the next five years according to the EvaluateMedTech World Preview 2015, Outlook to 2020.

The report also found that worldwide medtech R&D expenditure is forecast to grow by 3.5% per annum to reach $29.5 billion by 2020. 

Key highlights include:

• Worldwide medtech market forecast to grow more slowly than prescription drug market, with a CAGR of 4.1% between 2014 and 2020 versus 4.9% for pharma

• Johnson & Johnson held on to number one position in 2014 with medtech sales of $27.5 billion but Medtronic steals the top spot from 2015 onwards with a 2020 sales forecast of $34.9 billion 

• Value of venture financing fell 14% in H1 2015; deal count decreased by 13%

• Medtech IPO activity cooled in H1 2015 compared with H1 2014 but still on an upward trend from 2013