Surgical Instrument Manufacturing
The number of surgeries is on the rise, driving demand for the Surgical Instrument Manufacturing industry. The aging US population and growing spending on healthcare have helped bolster revenue over the past five years, while the effects of the Patient Protection and Affordable Care Act (PPACA) have given millions of Americans new access to healthcare services, including surgeries. Coupled with increased out-of-pocket spending on elective surgery and the effect of the improving labor market on the number of Americans with employee-sponsored private health insurance, the expansion of the PPACA led many hospitals and other treatment facilities to stock up on surgical equipment in preparation for booming demand. Further challenging cost-cutting efforts in downstream markets, many commodity costs have increased over the past five years. Over the five years to 2022, industry revenue is projected to grow. An increase in the number of surgeries due to aging baby boomers and the obesity epidemic will continue to boost industry sales.
Companies in this industry manufacture specially designed tools or devices for performing specific actions during a surgery or operation.
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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