No cutbacks: The aging population and persisting obesity epidemic will continue to boost industry sales

The number of surgeries is on the rise, driving demand for the Surgical Instrument Manufacturing industry. The aging US population and growing spending on healthcare have helped bolster revenue over the past five years, while the effects of the Patient Protection and Affordable Care Act (PPACA) have given millions of Americans new access to healthcare services, including surgeries. Coupled with increased out-of-pocket spending on elective surgery and the effect of the improving labor market on the number of Americans with employee-sponsored private health insurance, the expansion of the PPACA led many hospitals and other treatment facilities to stock up on surgical equipment in preparation for booming demand...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Aging baby boomers and the PPACA have helped revenue maintain strong overall growth
  • Coupled with the aging of the population, global obesity trends have supported industry revenue
  • Competition from imports will likely expand into high-tech electrosurgery products
  • Industry Report - Starting a New Business Chapter

    The high capital costs required to manufacture surgical equipment could deter some companies from entering the industry. First, rigorous quality assurance systems must be in place to ensure the safety and consistent manufacture of industry products. Second, a highly skilled workforce is necessary to design specialized instrumentation for various types of surgery. Third, in the health field, claims can be devastatingly high, so insurance against product liability claims is essential.Companies differentiate themselves based on product performance, distribution channels, geography and service. Rivalry is boosted by the presence of large, international incumbents, like Dublin, Ireland-based Covidien. Bui...purchase to read more.

    Additional Insights for the Surgical Instrument Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Surgical Instrument Manufacturing 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 adults aged 65 and older and Trade-weighted index in the Surgical Instrument Manufacturing industry impact industry performance..

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    What's in this report

    What is the Surgical Instrument Manufacturing Industry?

    Companies in this industry manufacture specially designed tools or devices for performing specific actions during a surgery or operation.

    Industry Products
  • General surgical instruments
  • Specialty surgical instruments
  • Electrosurgery instruments
  • Instrument servicing
  • Orthopedic instruments and implants
  • Industry Activities
  • Researching and developing surgical instruments
  • Manufacturing surgical equipment
  • Registering medical products
  • Sourcing raw materials
  • Developing relationships with distributors
  • 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 adults aged 65 and older
  • Trade-weighted index
  • Federal funding for Medicare and Medicaid
  • Number of people with private health insurance
  • World price of steel

  • Current Performance
  • Industry growth factors
  • Domestic trends
  • Chart: Revenue Growth

  • Industry Outlook
  • Service opportunities
  • More surgeries
  • Table: Surgical Instrument Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Surgical Instrument Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Medical Supplies Wholesaling
  • Specialist Doctors
  • Hospitals
  • Specialty Hospitals
  • Natural Disaster & Emergency Relief Services

  • Key Selling Industries
  • Electrical Equipment Manufacturing
  • Glass Product Manufacturing
  • Iron & Steel Manufacturing
  • Plastic Pipe & Parts Manufacturing
  • Rubber Product Manufacturing

  • Products & Services
  • General surgical instruments
  • Specialty surgical instruments
  • Orthopedic instruments and implants
  • Instrument servicing
  • Electrosurgery instruments
  • Chart: Surgical Instrument Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Hospitals and other treatment centers
  • Exports
  • Wholesalers
  • Government and research institutions
  • Chart: Major Market Segmentation for the Surgical Instrument Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Surgical Instrument Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Surgical Instrument Manufacturing Industry

  • Industry Globalization
    Stryker Corporation, Johnson & Johnson, Medtronic PLC,
  • Table: Stryker Corporation - financial performance
  • Table: Johnson & Johnson - financial performance
  • Table: Medtronic PLC - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Surgical Instrument Manufacturing 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 Surgical Instrument Manufacturing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Number of people with private health care (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    510(K) Clearance
  • The process by which Class II medical devices, such as electrically powered surgical instruments, are submitted to the US Federal Drug Administration for approval before sale.
  • Electrosurgery
  • The use of heat-generating electrical devices to burn or vaporize tissue in order to remove it and minimize and halt bleeding. An alternative to traditional open surgery.
  • Freestanding Ambulatory Center
  • A facility that is independent of a hospital where many medical procedures can be performed in an outpatient setting
  • Minimally Invasive Surgery (Mis)
  • A type of surgery that use small surgical cuts and holes, or no cuts at all. Patients treated with MIS often experience less trauma and have faster recoveries than those undergoing open surgeries.
  • Open Surgeries
  • The main form of surgical procedures in the United States, whereby a large incision allows surgeons to gain direct access to organs.
  • What Our Customers Say

    Why buy this report?

    The Surgical Instrument Manufacturing 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 Surgical Instrument Manufacturing:
    • 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 Surgical Instrument Manufacturing 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 Surgical Instrument Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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