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Medical Device Manufacturing in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Medical Device Manufacturing Market Research Report | NAICS 33451b | Aug 2014

Bill of health: Healthcare reform gives the industry more patients, but also more regulations

IBISWorld’s Medical Device Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$38bn
Annual Growth 09-14
3.6%
Annual Growth 14-19
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Profit
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Employment
85,002
Businesses
583
Industry Analysis & Industry Trends

Although medical devices are essential healthcare products, the recession took a toll on the Medical Device Manufacturing industry. Revenue tumbled in 2009, as slim profit margins constrained hospitals' ability to raise capital for large purchases. However, the changing demographics of the United States favor the industry. Although the majority of baby boomers are still under the age of 65, a significant portion of this group will cross this age threshold in the five years to 2019, resulting in revenue growth from for the 65-and-over demographic... purchase to read more

Industry Report - Industry Analysis Chapter

As a highly competitive, high-margin industry that produces largely nondiscretionary products, the Medical Device Manufacturing industry experienced mixed effects from the economic downturn. Revenue tumbled in 2009, as slim profit margins constrained hospitals' ability to raise capital for large purchases; thus, hospitals would often repair existing equipment rather than pay for a replacement. However, in 2014, revenue is expected to grow 6.7% to $37.6 billion, as an aging population and technological advances bolster market growth. The improving economy has encouraged more consumers to seek medical care; physician visits are expected to increase 2.1% per year on average during the five years to 2014... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Medical Device Manufacturing Industry?

This industry includes manufacturers of electromedical and electrotherapeutic apparatus, such as magnetic resonance imaging equipment, medical ultrasound equipment, pacemakers, hearing aids, electrocardiographs and electromedical endoscopic equipment. The industry also manufactures irradiation apparatus and tubes for applications such as medical diagnostic, medical therapeutic, industrial, research and scientific evaluation.

Industry Products
Neuromodulation devicesCardiovascular devicesSpinal devicesOther devicesIrradiation devicesAnesthesia and respiratory devices
 
Industry Activities
Fabricating medical diagnostic and therapeutic apparatusResearching and developmentMarketing and distribution


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