Medical Device Manufacturing in the US
Medical devices are essential healthcare products. Therefore, their producers are generally protected from significant revenue volatility. However, these products are also relatively 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. The aging US population has further contributed to industry revenue, given the high incidence of health issues requiring medical devices among elderly people. However, declines in the manufacturing sector as a whole have led to overall stagnation in industry revenue. Over the five years to 2024, 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 medical diagnostic, medical therapeutic, industrial, research, scientific evaluation and other applications.
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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