Healthy growth: Demand for new and innovative industry products will benefit the industry

Despite growing demand for healthcare services, Medical Device Manufacturing industry revenue has fallen over the past five years due to healthcare providers attempting to cut costs. However, technological advances, the introduction of START-UP NY and the aging US population have stimulated demand for medical devices. In the five years to 2022, industry revenue is expected to return to growth. The aging baby boomer population and technological developments will continue to bolster industry growth, but the changing regulatory environment will likely hamper profitability...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
-1.1%
Forecast Growth 17-22
Profit
Employment
3,450
Businesses
64

Industry Threats & Opportunities

  • The industry is expected to benefit from an increase in the number of people with private health insurance
  • Increased healthcare demand has supported revenue growth later in the five-year period
  • The aging population will increase demand for devices to treat age-related conditions
  • Industry Report - Industry Analysis Chapter

    The Medical Device Manufacturing industry has not fared well in New York over the past five years. Downstream healthcare providers both in and outside of New York have made efforts to reduce costs over the past five years. Healthcare reform has increased compliance costs throughout the healthcare sector. In addition, Medicare and Medicaid reimbursement rates have fallen in the wake of the Patient Protection and Affordable Care Act (PPACA) leading to lower profit margins for healthcare providers. Industry revenue is directly tied to the performance of healthcare providers, as industry products are made specifically for providers. As ...purchase to read more.

    Additional Insights for the Medical Device Manufacturing in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Device Manufacturing in New York 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 New York in the Medical Device Manufacturing in New York industry impact industry performance..

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    What's in this report

    What is the Medical Device Manufacturing in New York 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
  • Cardiac and vascular devices
  • Irradiation devices
  • Neuromodulation
  • Diabetes
  • Patient monitoring
  • Surgery
  • 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 New York
  • F405 Number of people with private health insurance in New York
  • Total health expenditure

  • Current Performance
  • Downstream Demand
  • Start it up
  • Chart: Revenue Growth

  • Industry Outlook
  • Still Starting
  • Demographics
  • Table: Medical Device Manufacturing in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Device Manufacturing in New York 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
  • Cardiac and vascular devices
  • Surgery
  • Other
  • Irradiation devices
  • Neuromodulation
  • Patient monitoring
  • Diabetes
  • Chart: Medical Device Manufacturing in New York Industry Products and Services Segmentation

  • Major Markets
  • Hospitals and Clinics
  • Distributors
  • Specialists and alternative-care providers
  • Chart: Major Market Segmentation for the Medical Device Manufacturing in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Medical Device Manufacturing in New York

  • Basis of Competition
  • Quality and innovation
  • Meeting customer needs

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Device Manufacturing in New York Industry

  • AngioDynamics, Conmed Corporation, CR Bard Inc., Medtronic PLC, Cogentix Medical, Delcath,
  • Table: AngioDynamics - financial performance
  • Table: Conmed Corporation - financial performance
  • Table: CR Bard Inc. - financial performance
  • Table: Medtronic PLC - financial performance
  • Table: Cogentix Medical - financial performance
  • Table: Delcath - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Device Manufacturing in New York 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 New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of people with private health insurance in New York (2008-2022)

  • 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?

    The Medical Device Manufacturing in New York Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    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 New York:
    • 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 New York 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 New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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