Ultrasounds good: Growth in the state's elderly population will boost industry demand

The Medical Device Manufacturing industry in Massachusetts has undergone a period of steady growth over the past five years to 2018. Demand for healthcare has been strong within the state as healthcare expenditure has grown and the population has aged. Individuals over the age of 65 have the strongest demand for healthcare services, so as this demographic grows, so does demand for healthcare, and therefore, medical devices. Over the five years to 2018, the number of adults aged 65 and older in Massachusetts is expected to rise at an annualized rate of 2.7%. This growth, coupled with increasing total health expenditure, has led to growth throughout the industry...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Profit margins have declined due to the increased costs associated with the investment in R&D
  • Industry Report - Industry Key Buyers Chapter

    •Market share concentration is significantly lower in Massachusetts than in the rest of the country.•Medtronic is the largest medical device manufacturing company in Massachusetts.•Many of the country’s largest medical device manufacturers, including General Electric and the Danaher Corporation, do not operate in Massachusetts.•The Boston Scientific Corporation does not have manufacturing facilities in Massachusetts...purchase to read more.

    Additional Insights for the Medical Device Manufacturing in Massachusetts Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Device Manufacturing in Massachusetts Industry are

  • Access to highly skilled workforce
  • Access to the latest technology
  • Establishment of export markets
  • IBISWorld analysts also discuss how external factors such as Number of physician visits and Number of adults aged 65 and older in Massachusetts in the Medical Device Manufacturing in Massachusetts industry impact industry performance..

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    What's in this report

    What is the Medical Device Manufacturing in Massachusetts 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
  • Cardiovascular devices
  • Patient monitoring devices
  • Diabetes devices
  • Neuromodulation and spinal devices
  • Surgical devices
  • Patient recovery devices
  • Other devices
  • Industry Activities
  • Fabricating medical diagnostic and therapeutic apparatus
  • Researching and development
  • Marketing and distribution
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of physician visits
  • Number of adults aged 65 and older in Massachusetts
  • Total health expenditure
  • Federal funding for Medicare and Medicaid
  • Trade-weighted index

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Device Manufacturing in Massachusetts Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Medical Supplies Wholesaling
  • Specialist Doctors
  • Hospitals

  • Key Selling Industries
  • Electrical Equipment Manufacturing
  • Manufacturing

  • Products & Services
  • Cardiovascular devices
  • Surgical devices
  • Patient monitoring devices
  • Neuromodulation and spinal devices
  • Patient recovery devices
  • Diabetes devices
  • Other devices
  • Chart: Medical Device Manufacturing in Massachusetts Industry Products and Services Segmentation

  • Major Markets
  • Hospitals
  • Distributors
  • Specialists and alternate-care providers
  • Chart: Major Market Segmentation for the Medical Device Manufacturing in Massachusetts Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Medical Device Manufacturing in Massachusetts

  • Basis of Competition
    Barriers to Entry
    Medtronic PLC, Abbott Laboratories, Johnson & Johnson, Philips Healthcare, Thermo Fisher Scientific Inc.,
  • Table: Medtronic PLC - financial performance
  • Table: Abbott Laboratories - financial performance
  • Table: Johnson & Johnson - financial performance
  • Table: Philips Healthcare - financial performance
  • Table: Thermo Fisher Scientific Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Device Manufacturing in Massachusetts Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Medical Device Manufacturing in Massachusetts Industry
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of Physician Visits (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    3D Bioprinting
  • A process of generating items from biological material, wherein cell function and viability are preserved within the printed item.
  • 510(K)
  • Premarket notification for most devices; named for the section of the law that requires these submissions.
  • Electromedical
  • Electrically operated diagnostic and other medical equipment.
  • Medical Device Reporting
  • Submissions to the Food and Drug Administration when death or serious injury occurs while using a medical device.
  • Neuromodulation
  • The alteration of nerve activity through the delivery of electrical stimulation or chemical agents to targeted sites of the body.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Medical Device Manufacturing in Massachusetts is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical Device Manufacturing in Massachusetts:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical Device Manufacturing in Massachusetts market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical Device Manufacturing in Massachusetts, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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