On the mend: The aging population and new technologies will spur slow but steady growth

The Medical Supplies Wholesaling industry in New York has grown steadily over the past five years. For this industry, growth has been faster in New York than in the rest of the country during this period. This growth has mainly been driven by heavy investment in medical device manufacturing. State programs like START-UP New York have driven growth in medical device and medical instrument and supply manufacturing industries in the state by providing tax incentives to new companies. With more manufacturing companies opening in New York, wholesalers have had better access to advanced medical products. The factors that have supported revenue growth over the past five years are projected to continue over the next five years...purchase to read more.

Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 12-17
3.1%
Forecast Growth 17-22
Profit
Employment
9,629
Businesses
859

Industry Threats & Opportunities

  • Industry revenue will be supported by rising investment in the manufacturing sector in New York
  • Automation has reduced the need for labor and increased profit margins
  • The aging population and growing innovation are expected to support industry revenue
  • Industry Report - Starting a New Business Chapter

    Barriers to entering the Medical Supplies Wholesaling industry are moderate in New York. The importance of brand identity is minimal, because customers are concerned more with quality and price. The low cost of customer switching will further ease the entry of new companies into the market. Switching costs are incidental and associated with changing transportation and communication systems. Low switching costs encourage greater industry competition because new companies can more easily entice customers away from existing operators.However, operators face stringent regulatory controls and relatively high fixed costs, including warehousing technology, transportation equipment and complex machinery. Com...purchase to read more.

    Additional Insights for the Medical Supplies Wholesaling in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Supplies Wholesaling in New York Industry are

  • Guaranteed supply of key inputs
  • Having an extensive distribution/collection network
  • Complementary services
  • IBISWorld analysts also discuss how external factors such as F405 Number of people with private health insurance in New York and Federal funding for Medicare and Medicaid in the Medical Supplies Wholesaling in New York industry impact industry performance..

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    What's in this report

    What is the Medical Supplies Wholesaling in New York Industry?

    Medical supplies wholesalers purchase medical and surgical equipment, instruments and supplies, store these items at distribution centers, and deliver these products and related services to medical and dental practitioners, clinics and hospitals. The industry does not handle instruments and goods that are distributed to ophthalmologists, optometrists, veterinarians and opticians. This industry also does not include pharmaceutical sales.

    Industry Products
  • Surgical, medical and hospital equipment
  • Surgical, medical and hospital supplies
  • Orthopedic and prosthetic appliances and supplies
  • Dental instruments and supplies
  • Pharmaceutical supplies
  • Other equipment and supplies
  • Industry Activities
  • Purchasing medical supplies from manufacturers
  • Storing medical supplies at distribution centers
  • Providing delivery of medical supplies and related services to medical and dental professionals
  • Providing resource management and consulting services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • F405 Number of people with private health insurance in New York
  • Federal funding for Medicare and Medicaid
  • Research and development expenditure
  • Number of adults aged 65 and older in New York

  • Current Performance
  • Demand drivers
  • High competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand drivers
  • Profit margins
  • Table: Medical Supplies Wholesaling in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Supplies Wholesaling in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Primary Care Doctors
  • Specialist Doctors
  • Dentists
  • Chiropractors
  • Psychologists, Social Workers & Marriage Counselors
  • Emergency & Other Outpatient Care Centers
  • Diagnostic & Medical Laboratories
  • Hospitals
  • Specialty Hospitals

  • Key Selling Industries
  • Local Freight Trucking
  • Long-Distance Freight Trucking
  • Medical Device Manufacturing
  • Medical Instrument & Supply Manufacturing

  • Products & Services
  • Surgical, medical and hospital equipment
  • Surgical, medical and hospital supplies
  • Dental instruments and supplies
  • Orthopedic and prosthetic appliances and supplies
  • Other equipment and supplies
  • Pharmaceutical supplies
  • Chart: Medical Supplies Wholesaling in New York Industry Products and Services Segmentation

  • Major Markets
  • Hospitals
  • Clinics
  • Dentists
  • Alternative care providers
  • Chart: Major Market Segmentation for the Medical Supplies Wholesaling in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Medical Supplies Wholesaling in New York

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Supplies Wholesaling in New York Industry

  • Borbas Pharmacy, Buffalo Hospital Supply, CNY Medical Products Inc., Mohawk Healthcare, Prime Care Medical Supplies Inc.,
  • Table: Borbas Pharmacy - financial performance
  • Table: Buffalo Hospital Supply - financial performance
  • Table: CNY Medical Products Inc. - financial performance
  • Table: Mohawk Healthcare - financial performance
  • Table: Prime Care Medical Supplies Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Supplies Wholesaling 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 Supplies Wholesaling 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
    Electronic Data Interchange
  • The transmission of electronic documents between businesses from one computer system to another.
  • Group Purchasing Organization
  • A group of businesses that form to leverage their purchasing power and gain discounts from vendors based on their collective buying power.
  • Health Maintenance Organization
  • A type of managed care organization that provides a form of healthcare coverage that is fulfilled through providers with which the HMO has a contract.
  • Point-Of-Sale
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • Radio-Frequency Identification
  • A technology that tracks products from the time they leave the assembly line to the time they leave the store by releasing continuous signals from a chip.
  • Wholesale Bypass
  • A trend within retail and manufacturing industries where producers supply goods directly to retailers, eliminating the need for independent wholesalers.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Medical Supplies Wholesaling in New York contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Medical Supplies Wholesaling 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 Supplies Wholesaling 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 Supplies Wholesaling 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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