Medical Device Manufacturing in Texas
Despite only making up a relatively small portion of the national Medical Device Manufacturing industry, the Texas Medical Device Manufacturing industry has grown over the past five years. Rising private insurance enrollment created by the Patient Protection and Affordable Care Act (PPACA) and the aging population have driven demand for healthcare services, and therefore industry products. As a traditionally conservative state, Texas had previously not heavily regulated the healthcare sector, so the PPACA incited rapid growth in healthcare. Large international companies have invested in the industry by opening new establishments and acquiring businesses in Texas. This growth is expected to continue over the five years to 2022. The PPACA is likely to keep private insurance enrollment high while the population will continue aging, with the number of adults aged 65 and older growing. Meanwhile, the industry will continue to be attractive to major companies, further driving growth in the number of enterprises.
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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