A new report forecasts that the growth rate of R&D spending at top medtech companies will be below the industry average in between 2012 and 2018.
That's according to World Preview 2013, Outlook to 2018: The Future of MedTech, a new report released Monday by Evaluate MedTech, part of Evaluate a market intelligence firm. The report is being released at an event in Washongton, D.C. Monday hosted by industry group AdvaMed.
The report expects that companies like Johnson & Johnson, Philips and Roche's R&D growth rate of 2% each will fall behind the 4% growth rate that the industry overall will see between 2012 and 2018.
Yet not all large companies are taking that route. Abbott, which split its medtech business from its pharma business earlier this year will spend at the compound annual growth rate of 7% in the same time period to $1.28 billion.
Here's how the top 10 companies, according to R&D sales will spend in 2018
• Siemens will spend $2.02 billion at a CAGR of 3%
• Johnson & Johnson will spend $1.90 billion at a CAGR of 2%
• Medtronic will spend $1.82 billion at a CAGR of 3%
• Abbott Laboratories will spend $1.28 billion at a CAGR of 7%
• Philips will spend $1.18 billion at a CAGR of 2%
• General Electric will spend $1.16 billion at a CAGR of 3%
• Boston Scientific will spend $991 million at a CAGR of 2%
• St. Jude Medical will spend $749 million at a CAGR of 2%
• Danaher will spend $672 million at a CAGR of 5%