Healthy environment: Favorable demographic and technological trends will support industry sales

The Medical Instrument and Supply Manufacturing industry in New York specializes in producing the tools and equipment necessary for medical and surgical procedures. Therefore, the industry has benefited from New York's aging population and growing number of people with private health insurance. However, the entire manufacturing sector has struggled recently, as the appreciating US dollar has created more import competition, and postrecessionary growth has slowed. Over the next five years, despite falling in the past, industry revenue is projected to benefit from the aging population and the growing number of people with health insurance...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
-4.4%
Forecast Growth 17-22
Profit
Employment
12,374
Businesses
646

Industry Threats & Opportunities

  • Despite a drop in industry players due to merger and acquisition activity, profit margins have increased
  • Revenue declines have been followed by a falling number of companies due to M&A activity
  • Healthcare providers are expected to demand more industry products
  • Industry Report - Industry Analysis Chapter

    The Medical Instrument and Supply Manufacturing industry in New York produces products necessary for medical and surgical procedures, so demand from healthcare providers is crucial for industry revenue. However, while demand from downstream providers has been strong over the past five years, the manufacturing sector as a whole has struggled recently. The strong investment in manufacturing seen immediately following the recession has slowed, and as a result, manufacturers have experienced revenue declines. In addition, the appreciating US dollar has made imports relatively more affordable for US consumers, thus creating competition from foreign manufacturers. Despite this, strong demand from healthcare providers has kept industry declines to a minimum. Ove...purchase to read more.

    Additional Insights for the Medical Instrument & Supply Manufacturing in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Instrument & Supply Manufacturing in New York Industry are

  • Having contacts within key markets
  • Economies of scale
  • Undertaking technical research and development
  • IBISWorld analysts also discuss how external factors such as Number of physician visits and F405 Number of people with private health insurance in New York in the Medical Instrument & Supply Manufacturing in New York industry impact industry performance..

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    What's in this report

    What is the Medical Instrument & Supply Manufacturing in New York Industry?

    This industry primarily researches, develops and produces nonelectronic medical, surgical, dental and veterinary instruments and apparatus, such as syringes, anesthesia apparatus, blood transfusion equipment, catheters, surgical clamps and medical thermometers. The industry does not manufacture electromedical and electrotherapeutic apparatus, X-ray apparatus, nonmedical thermometers or ophthalmic goods (such as contact lenses and eyeglasses).

    Industry Products
  • Surgical and medical instruments
  • Surgical appliances and supplies
  • Dental equipment and supplies
  • Dental laboratory equipment
  • Industry Activities
  • Designing, developing and medical and surgical instruments and supplies
  • Designing, developing and dental instruments and supplies
  • Designing, developing and veterinary instruments and supplies
  • 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
  • F405 Number of people with private health insurance in New York
  • Number of adults aged 65 and older in New York
  • Research and development expenditure
  • Trade-weighted index

  • Current Performance
  • Startups and innovations
  • Input costs
  • Chart: Revenue Growth

  • Industry Outlook
  • Innovation
  • Consolidation
  • Table: Medical Instrument & Supply Manufacturing in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Instrument & Supply Manufacturing in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Medical Supplies Wholesaling
  • Veterinary Services
  • Primary Care Doctors
  • Specialist Doctors
  • Dentists
  • Hospitals
  • Natural Disaster & Emergency Relief Services

  • Key Selling Industries
  • Cotton Farming
  • Glass Product Manufacturing
  • Hose & Belt Manufacturing
  • Plastic Pipe & Parts Manufacturing
  • Rubber Product Manufacturing

  • Products & Services
  • Surgical and medical instruments
  • Surgical appliances and supplies
  • Dental laboratory equipment
  • Dental equipment and supplies
  • Chart: Medical Instrument & Supply Manufacturing in New York Industry Products and Services Segmentation

  • Major Markets
  • Hospitals
  • Distributors
  • Third-party providers
  • Chart: Major Market Segmentation for the Medical Instrument & Supply Manufacturing in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesResearch and development
  • Chart: Cost Structure Benchmarking – Sector vs Medical Instrument & Supply Manufacturing in New York

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Instrument & Supply Manufacturing in New York Industry

  • Corning Incorporated, Thermo Fisher Scientific Inc., AngioDynamics, Conmed Corporation, Welch Allyn Inc.,
  • Table: Corning Incorporated - financial performance
  • Table: Thermo Fisher Scientific Inc. - financial performance
  • Table: AngioDynamics - financial performance
  • Table: Conmed Corporation - financial performance
  • Table: Welch Allyn Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Instrument & Supply 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 Instrument & Supply Manufacturing in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • No. 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
    510(K) Premarket Notifications
  • A premarket submission made to the FDA to demonstrate that the device to be marketed is at least as safe and effective to a legally marketed device that is not subject to PMA.
  • Clinical Research
  • The study of a device in human subjects with the intent to discover potential beneficial effects or determine its safety and efficacy.
  • Wholesale Bypass
  • A popular trend within retail and manufacturing industries where producers supply goods directly to stores, eliminating the middleman.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Medical Instrument & Supply Manufacturing in New York 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 Instrument & Supply 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 Instrument & Supply 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 Instrument & Supply 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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