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In Medtech Insight's latest rankings of top 100 revenue-earners in the medical device and diagnostics sector, it was steady as she goes for most of the multinational medtechs, with some major exceptions. But there will be more M&A reflected in next year's ranking based on 2018 revenues. Also, medtech groups leading the global market tightened their grip further in 2017, as providers chose to partner more and more with fewer suppliers who can offer a wider provision of services.
Boston Scientific has inked a deal of up to $270m for embolic protection system developer Claret Medical, marking its second acquisition in the space of two weeks.
Device fundraising during the fourth quarter totaled $2.6 billion, making it the strongest quarter of the year. Q4 M&A activity reached $3.9 billion, higher than Q3's $3.4 billion, but still one of the lowest quarters of the year. Both fourth quarter diagnostics financings and M&As hit an all-year low of $622 million, and $2.8 million, respectively.
The numbers of medical device approvals were up in most regions outside the US and the biggest surge, by percentage, was in approvals from emerging markets and the so-called BRIC countries. It remains to be seen if the trend will continue in 2018, but many companies are already counting on important non-US approvals coming in the next year.