Medical Instrument & Supply Manufacturing in the US - Industry Market Research Report

Medical Instrument & Supply Manufacturing in the US - Industry Market Research Report

Medical Instrument & Supply Manufacturing in the US

Medical instrument and supply manufacturers have struggled in recent years as a result of declines across the manufacturing sector. The healthcare sector endured uncertainty in 2017 when aspects of the Patient Protection and Affordable Care Act (PPACA) were repealed and health insurance enrollment fell. In 2020, the COVID-19 pandemic resulted in significant revenue declines. While medical instruments are necessary to treat COVID, many states prohibited nonessential healthcare services, resulting in falling industry demand in 2020. Medical instrument and supply manufacturing revenue has decreased at a CAGR of 0.9% to $98.7 billion through the end of 2023, including 0.3% in 2023 alone, when profit will drop to 7.2%.

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.