Industry Analysis & Industry Trends
The recession did little to deter hospitals and other customers from purchasing medical devices, and the anticipated economic recovery will only help the industry grow further. Medical device manufacturers will continue to benefit from the aging US population, while the influx of newly insured people due to the healthcare reform bill will drive up demand for industry products. However, the regulatory environment is growing more stringent, which will hamper profit and force some companies to shift functions overseas... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
In the 10 years to 2019, IBISWorld expects the Medical Device Manufacturing industry to grow at roughly the same pace as the overall economy: industry value added, which measures an industry's contribution to the US economy, is forecast to grow at an average annual rate of 5.3% during the period, faster than the anticipated 2.7% annualized GDP growth during the same period. This strong growth indicates that the industry is currently growing.
Industry growth is largely supported by demographic trends. Aging populations in the United States and other advanced economies drive demand for medical devices. As people age, they are more likely to require medical services, and advances in technology mean that more health problems can be treated... purchase to read more