Medical Devices refers to any instrument, apparatus, implement, machine, implant... Medical devices are essential for the safe and effective prevention, diagnosis, treatment and rehabilitation of diseases and ailments. Within the Medical Devices sector we can find the sub-segment of parapharmaceuticals where there are currently 213 companies where so far there have been a total of 593 investment rounds totalling 11.9 billion dollars. BakerTilly has analysed which are the two leading companies in the parapharmacy sector.
Aspen Pharmacare in the parapharmacy sector
Aspen Pharmacare is a South African pharmaceutical company with more than 160 years of experience in the market. They are world leaders in branded medicines and offer an extensive range of products to treat a wide range of acute and chronic diseases, including anaesthesia, thrombosis and oncology.
The company in the last half of 2020 increased revenues by 9% to $38.6 billion. Revenues have grown as Aspen has entered into an agreement to sell the assets related to Mylan. Aspen's business will thus be heavily tilted towards other territories, giving the business greater exposure to the private sector and be better positioned to benefit from the expanding middle classes in Emerging Markets.
Medical Devices: WuXi AppTec
WuXi AppTec is a global Chinese pharmaceutical, biopharmaceutical and medical device company.
Revenues in the last six months of 2020 grew by 22.7% to USD 1.07 billion, this is attributable to the implementation of the Business Continuity Plan, as well as to the recent acquisition of Pharmapace, for improving biometric services in clinical development.