2022 was a good year for the MedTech sector. 9 out of 10 of the largest medical technology companies were able to increase their revenues.
Siemens Healthineers showed the highest growth (24% year-on-year). The company’s revenues from main business segments grew by around 11%, while revenues from Varian, a cancer treatment company recently acquired by Siemens Healthineers, grew by >130% over the last year, boosting the overall growth.
In 2020, the COVID-19 pandemic led to a drop in sales for most of the top 10 companies, as healthcare expenditures were scaled back or shifted to key areas. In 2022, the industry has recovered and returned to its long-term growth trajectory. Despite rising regulatory requirements and uncertain macroeconomic conditions, further growth is expected due to improved therapies and accelerating innovation.
