Impending federal excise taxes, downward pricing pressure and declining volumes of big-ticket procedures constitute a triple threat that will drive the medical device industry to consolidate, according to a PricewaterhouseCoopers report.

The total value of health care deals over the past 12 months rose 40 percent, according to the consulting giant’s “U.S. Mid-Year M&A Outlook.” That trend is likely to continue, the report predicts.