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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 | Jan 2014

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

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
$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

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 Investment Chapter

The industry has a medium level of capital intensity; for every $1.00 spent on wages, $0.15 is invested in capital improvements. Medical device manufacturers produce a range of products for highly specialized applications. Not all products can be manufactured on an automated production line, so the need for hands-on work increases labor costs. Skilled specialists are needed to research and develop medical devices, and these employees command salaries well above the manufacturing sector's average wage. Wages account for about 19.7% of revenue in 2014.

Depreciation costs represent about 3.0% of revenue. The larger firms within the industry frequently acquire small firms to broaden their range of products and markets, which raises capital expenditure... 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 apparatusResearch and developmentMarketing and distribution


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