Medical Instrument & Supply Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: June 2024
NAICS 33911aRevenue
$103.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
283k
Businesses
7,711
Wages
$XX.Xbn
Medical Instrument & Supply Manufacturing in the US industry analysis
Rising utilization of healthcare services is driving growth in the Medical Instruments and Supplies industry. Manufacturers' vital role in providing essential equipment to healthcare providers has only grown as more people access healthcare services. Demographic shifts, particularly the aging population and higher incidence of chronic illnesses, are the main factors driving healthcare consumption and the need for specialized supplies. The expansion of insurance coverage has led to millions of new consumers accessing healthcare services, further fueling demand for medical supplies. Shifts in demand patterns for medical supplies and instruments, beginning during the pandemic in 2020, will continue through 2024. Manufacturers have also been navigating headwinds related to inflation, supply chain resiliency and currency fluctuations. Still, revenue has been rising at a CAGR of 0.5% to an estimated $103.8 billion over the past five years, including expected growth of 1.0% in 2029.
Trends and Insights
- Medical instrument manufacturers balance opportunity with risk in a postpandemic landscape. Strong healthcare spending following the pandemic continues to create a massive demand for supplies, but lingering issues related to supply chain resiliency, inflation and labor shortages are proving difficult to overcome.
- Medical supply and instrument manufacturers depend on hospital sales more than any other market. Hospitals are at the forefront of healthcare delivery in the US, purchasing massive volumes of supplies to meet diverse patient needs.
- Access to distribution networks and downstream markets is critical for medical supply manufacturers. High concentrations of manufacturers operate in the Mid-Atlantic and Southeast, where access to established supply chains and large markets is highest.
- Consolidation activity is accelerating as the medical supply chain becomes more dynamic. More mergers and acquisitions occur as manufacturers seek new resources, technologies, expertise or scale to better navigate the industry’s evolving challenges.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $103.8bn in 2024.
Trends and Insights
Favorable demographics limit further declines
- Demographic trends, government and private spending on healthcare, advances in medical technology and the age of capital equipment in stock bolster demand for medical instrument products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Increased demand from emerging markets
- Demand from emerging markets, such as China, India, Russia and Brazil, will further support product development.
Biggest companies in the Medical Instrument & Supply Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Johnson & Johnson | 8,145.0 | 1,981.1 | 24.3 | |
Stryker Corp | 6,975.3 | 1,093.9 | 15.7 | |
Permobil AB | 4,399.4 | 475.1 | 10.8 |
To view the market share and analysis for all 63 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Surgical appliances , Surgical instruments and Dental instruments and supplies . Surgical appliances is the largest segment of the Medical Instrument & Supply Manufacturing in the US.
Trends and Insights
Surgical instruments demand increases as demand for surgeries increase
- This product segment includes surgical instruments; surgical and medical diagnostic apparatuses; syringes; needles; blood transfusion and IV equipment; catheters as well as related parts.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Medical Device Manufacturing in the US
- Glasses & Contact Lens Manufacturing in the US
- Medical Supplies Wholesaling in the US
- Home Care Providers in the US
- Hospitals in the US
International industries
- Global Pharmaceuticals & Medicine Manufacturing
- Global Health Care Equipment Manufacturing
- Medical Instrument & Supply Manufacturing in Canada
- Medical and Surgical Equipment Manufacturing in Australia
- Medical, Surgical and Scientific Equipment Manufacturing in New Zealand
Table of Contents
About this industry
Industry definition
Medical instrument and supply manufacturers design, produce and distribute various tools, devices, equipment and supplies used in healthcare settings. These companies are crucial in providing healthcare professionals with the tools to diagnose, treat and manage medical conditions.
What's included in this industry?
Designing, developing and manufacturing medical and surgical instruments and suppliesDesigning, developing and manufacturing dental instruments and suppliesDesigning, developing and manufacturing veterinary instruments and suppliesCompanies
Johnson & JohnsonStryker CorpPermobil ABPurchase this report to view all 63 major companies in this industry.
Related Terms
510(K) PREMARKET NOTIFICATIONSCLINICAL RESEARCHSTERILIZATIONQUALITY CONTROLIndustry Code
NAICS 339112 - Medical Instrument & Supply Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Medical instrument manufacturers balance opportunity with risk in a postpandemic landscape. Strong healthcare spending following the pandemic continues to create a massive de...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Medical supply and instrument manufacturers depend on hospital sales more than any other market. Hospitals are at the forefront of healthcare delivery in the US, purchasing m...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Access to distribution networks and downstream markets is critical for medical supply manufacturers. High concentrations of manufacturers operate in the Mid-Atlantic and Sout...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Consolidation activity is accelerating as the medical supply chain becomes more dynamic. More mergers and acquisitions occur as manufacturers seek new resources, technologies...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Johnson & Johnson's scale and scope make the manufacturer the US's leading medical supply and instrument producer. The company's massive, diverse product portfolio, economies...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Johnson & Johnson's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Stryker Corp's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Permobil AB's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 60 additional companies
Detailed analysis
- Description and key data for Johnson & Johnson, and factors influencing its performance in the industry
- Description and key data for Stryker Corp, and factors influencing its performance in the industry
- Description and key data for Permobil AB, and factors influencing its performance in the industry
- Description, key data and performance trends for 60 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Medical supply manufacturers have a direct influence on public health. The link between manufacturers and patient safety introduces the industry to a complex regulatory envir...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Labor shortages hurting the broader manufacturing sector are hurting medical instrument producers. A tight labor market has pressured manufacturers to raise compensation to k...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Medical Instrument & Supply Manufacturing in the US industry in United States in 2024?
The market size of the Medical Instrument & Supply Manufacturing in the US industry in United States is $103.8bn in 2024.
How many businesses are there in the Medical Instrument & Supply Manufacturing in the US industry in 2024?
There are 7,711 businesses in the Medical Instrument & Supply Manufacturing in the US industry in United States, which has declined at a CAGR of 1.6 % between 2019 and 2024.
Has the Medical Instrument & Supply Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Medical Instrument & Supply Manufacturing in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
What is the forecast growth of the Medical Instrument & Supply Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Medical Instrument & Supply Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Medical Instrument & Supply Manufacturing in the US market in United States?
The biggest companies operating in the Medical Instrument & Supply Manufacturing market in United States are Johnson & Johnson, Stryker Corp and Permobil AB
What does the Medical Instrument & Supply Manufacturing in the US in United States include?
Designing, developing and manufacturing medical and surgical instruments and supplies and Designing, developing and manufacturing dental instruments and supplies are part of the Medical Instrument & Supply Manufacturing in the US industry.
Which companies have the highest market share in the Medical Instrument & Supply Manufacturing in the US in United States?
The company holding the most market share in United States is Johnson & Johnson.
How competitive is the Medical Instrument & Supply Manufacturing in the US industry in United States?
The level of competition is moderate and increasing in the Medical Instrument & Supply Manufacturing in the US industry in United States.
