Medical Instrument & Supply Manufacturing in the US
The Medical Instrument and Supply Manufacturing industry has struggled over the five years to 2017 as a result of declines throughout the manufacturing sector. Immediately following the recession, manufacturing industries benefited from inflated demand created by the improving economy. However, this inflated demand has slowed over the past five years. Over the five years to 2022, IBISWorld expects industry revenue to return to growth. In particular, as healthcare reform expands healthcare coverage, some traditionally underserved demographics will gain access to care. For example, according to A.T. Kearney, manufacturers that provide in vitro diagnostics as well as orthopedic, cardiovascular or renal care devices will benefit from robust demand from the expansion of healthcare coverage.
This industry primarily researches, develops and produces nonelectronic medical, surgical, dental and veterinary instruments and apparatus, such as syringes, anesthesia apparatus, blood transfusion equipment, catheters, surgical clamps and medical thermometers. The industry does not manufacture electromedical and electrotherapeutic apparatus, X-ray apparatus, nonmedical thermometers or ophthalmic goods (such as contact lenses and eyeglasses).
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.