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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 | May 2016

Healthy growth: Healthcare reform boosts patient base, but regulations may threaten profit

IBISWorld’s Medical Device Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$42bn
Annual Growth 11-16
4.5%
Annual Growth 16-21
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Profit
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Employment
87,781
Businesses
893
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 2011, as slim profit margins constrained hospitals' ability to raise capital for large purchases. However, the changing demographics of the United States favor the industry. Revenue increased over the current five-year period and is anticipated to continuing growth over the next five-year period. Although the majority of baby boomers are still under the age of 65, a significant portion of this group will cross this age threshold over the next five years, resulting in revenue growth from for the 65-and-over demographic... purchase to read more

Industry Report - Industry Investment Chapter

The industry has a moderately low level of capital intensity; for every $1.00 an average industry company spends on labor, they invest about $0.08 into capital improvements. Although the cost of assets can be high for industry operators, not all products can be manufactured on an automated production line. Medical device manufacturers produce a range of products for highly specialized applications, and the development and production of many of these devices requires hands-on work, which keeps industry labor costs high. Skilled specialists are needed to research and develop medical devices, and these employees command salaries well above the manufacturing sector's average wage... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Medical Device Manufacturing Industry?

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

Industry Products
Neuromodulation and spinal devicesCardiovascular devicesDiabetes devicesOther devicesIrradiation devicesPatient recovery and noninvasive devices
 
Industry Activities
Fabricating medical diagnostic and therapeutic apparatusResearching and developmentMarketing and distribution


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