Medical Device Manufacturing in the US
Essential healthcare products are usually more expensive, which makes the Medical Device Manufacturing industry slightly more vulnerable to fluctuations in economic conditions. Technological advances, increased healthcare spending and the improving economy have stimulated demand for medical devices over the past five years to 2018, and the aging US population has further contributed to revenue growth, due to the high incidence of health issues requiring medical devices among the elderly. Growth in medical device manufacturing in other countries has led to decreased exports and increased imports. Continued globalization will also affect the composition of the industry over the next five years, as companies increasingly outsource manufacturing, research and development and other operations. Over the five years to 2023, the industry is expected to return to growth. The aging baby-boomer population and technological developments will continue to bolster industry growth, while the changing regulatory environment will likely support profitability.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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