Medical Device Manufacturing in the US - Industry Market Research Report
Description
Medical Device Manufacturing in the US
Medical device manufacturing revenue has been on a decline over the past five years, falling at a CAGR of 0.6% to an estimated $49.8 billion in 2023. This includes projected marginal growth of 0.2% in 2023 alone. The decline is mainly explained by the outbreak of COVID-19 in 2020, which led to supply chain disruptions and lower trade. The strengthening US dollar has also made US-manufactured goods more expensive abroad, contributing to the reduction in the value of exports. Conversely, the increasing size of the older population has benefited the industry. The healthcare system has been adjusting to meet the needs of this growing elderly population, with an increased interest in patient-centered, in-home care for individuals with chronic conditions.
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.
Medical device manufacturing revenue has been on a decline over the past five years, falling at a CAGR of 0.6% to an estimated $49.8 billion in 2023. This includes projected marginal growth of 0.2% in 2023 alone. The decline is mainly explained by the outbreak of COVID-19 in 2020, which led to supply chain disruptions and lower trade. The strengthening US dollar has also made US-manufactured goods more expensive abroad, contributing to the reduction in the value of exports. Conversely, the increasing size of the older population has benefited the industry. The healthcare system has been adjusting to meet the needs of this growing elderly population, with an increased interest in patient-centered, in-home care for individuals with chronic conditions.
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.
Table of Contents
55 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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