The value marked a decrease of 65.1% over the previous month and a drop of 83.3% when compared with the last 12-month average of $4.55bn.
In terms of number of deals, the sector saw a drop of 12.9% over the last 12-month average with 108 deals against the average of 124 deals.
In value terms, North America led the activity with deals worth $491.91m.
Medical devices industry deals in October 2019: Top deals
The top five medical devices deals accounted for 32.2% of the overall value during October 2019.