The one word to sum up the medtech sector in 2014 - megamergers. The total value of mergers reached nearly $40 billion, more than twice as much as 2013. Even more astonishing is the fact that this figure does not include the Medtronic-Covidien megamerger, which closed in early 2015.

The number of companies going public also increased in 2014 with as many as 34 device makers conducting IPOs on Western exchanges. Not only did offerings surge, the total value raised was nearly triple the haul of 2013. A total of $2.2 billion was raised through IPOs.

Key highlights include:

• FDA approved devices rose to 33 in 2014, a 43% increase from 2013

• Seven of the top 10 M&A deals were worth more than $1bn, showing huge appetite for consolidation at the top

• 34 device makers raised $2.2 billion in IPOs, more than triple the 2013 total

• European markets were comparatively weak for both stock prices and IPOs

• The total amount of venture funding in 2014 saw little change at $3.9 billion but the number of rounds dropped 15% from 406 in 2013 to 345 in 2014

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