United States Medical Devices Report

Published 22 June 2015

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United States Medical Devices Report

BMI Industry View : The US medical market is forecast to see steady growth over the next five years, despite a projected slowdown in health spending, the impact of the newly introduced Medical Device Excise Tax and uncertainties within the healthcare system in the wake of the Patient Protection and Affordable Care Act. Imports have been growing in line with the market, which remains by far the world's largest. Exports are continuing to rise as US manufacturers seek out opportunities in emerging global markets.

Headline Industry Forecasts

  • At an estimated USD125.4bn in 2013, the US medical device market is the world's largest. Per capita expenditure, at USD392, is the second highest in the world, behind only Switzerland. The market is projected to grow at a CAGR of 6.1% over the 2013-2018 period, as it settles down into a more consistent pattern after the volatile 2008-2013 period.

  • Medical device imports increased by 4.6% to reach a record high of USD37,751mn in 2013. Over the last ten years, the only year not to show an increase was 2009 when the impact of the global economic crisis led to a 5.9% fall in imports. Imports increased at a CAGR of 4.3% over the 2008-2013 period. The running annual total reached almost USD40.0bn in the 12 months to February 2015, representing y-o-y growth of 6.2%. Imports have been rising steadily over the last eight successive quarters and with US purchasing power increasing as the dollar appreciates against the euro and the yen, the signs are that the market will remain buoyant throughout 2015.

  • Medical device exports grew at a CAGR of 4.5% over the 2008-2013 period. The running annual total reached USD44.2bn in the 12 months to February 2015, representing y-o-y growth of 1.3% and indicating that US exports are well placed to maintain growth in 2015, despite the adverse economic conditions in many overseas markets. The balance of trade surplus fell sharply in 2013, to total USD5.7bn.

  • Many of the world's leading...

Table of Contents

BMI Industry View
7
SWOT
10
Medical Device Market
10
Political
11
Economic
12
Operational Risk
13
Industry Forecast
14
Medical Device Market Forecast
14
2008-2013 Performance
14
2013-2018 Performance
15
Table: Projected Medical Device Market, 2013-2018
16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (USDmn)
17
Consumables Market Forecast
20
Bandages & Dressings
21
Suturing Materials
21
Syringes, Needles & Catheters
21
Other Consumables
21
Table: Consumables Market, 2008-2018 (USDmn)
22
Table: Consumables Market, 2009-2018 (USDmn % Change)
23
Diagnostic Imaging Market Forecast
24
Electrodiagnostic Apparatus
25
Radiation Apparatus
26
Imaging Parts & Accessories
26
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
27
Table: Diagnostic Imaging Market, 2009-2018 (USDmn % Change)
28
Dental Products Market Forecast
29
Capital Equipment
29
Instruments & Supplies
30
Table: Dental Products Market, 2008-2018 (USDmn)
31
Table: Dental Products Market, 2009-2018 (USDmn % Change)
31
Orthopaedics & Prosthetics Market Forecast
32
Fixation Devices
33
Artificial Joints
33
Other Artificial Body Parts
33
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
34
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn % Change)
34
Patient Aids Market Forecast
36
Portable Aids
36
Therapeutic Appliances
36
Table: Patient Aids Market
36
Table: Patient Aids Market, 2009-2018 (USDmn % Change)
37
Other Medical Devices Market Forecast
38
Table: Other Medical Devices Market, 2008-2018 (USDmn)
38
Table: Other Medical Devices Market, 2009-2018 (USDmn % Change)
39
Annual Medical Device Imports
41
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s % Change)
45
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
47
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
48
Table: Detailed Medical Device Import Trends By Product Area, 2013
51
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
54
Monthly Medical Device Imports
58
Table: Monthly Medical Device Imports By Product Area, December 2011-November 2014 (USDmn)
58
Annual Medical Device Exports
60
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
63
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s % Change)
64
Table: Top 20 Medical Device Destinations, 2013 (USD000s)
66
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
67
Table: Detailed Medical Device Export Trends By Product Area, 2013
70
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
73
Table: Detailed Medical Device Balance Of Trade, 2009-2013 (USD000s)
76
Monthly Medical Device Exports
79
Table: Monthly Medical Device Exports By Product Area, December 2011-November 2014 (USDmn)
80
Macroeconomic Forecasts
82
Economic Analysis
82
Table: Economic Activity (United States 2010-2019)
87
Industry Risk/Reward Index
88
Table: Americas Medical Device Risk/Reward Index, Q215
89
Market Overview
90
Medical Device Market Overview
90
Table: Medical Device Market, Key Ratios, 2013
91
Table: Medical Device Market By Product Area, 2013
91
Healthcare Overview
92
Health Status
92
Healthcare System
92
Healthcare Funding
93
Table: Marketplace Enrolment As A Share Of The Potential Marketplace Population
98
Table: Leading US Private Hospital Groups, 2014
101
Table: Largest Health Insurance & Managed Care Companies By Revenue, 2011-2013
103
Healthcare Resources
104
Table: Medical Technology By Type, 2006-2013 (Units)
104
Table: Diagnostic Exams By Type, 2005-2011
106
Healthcare Activity
107
Healthcare Personnel
108
Key Healthcare Data
108
Table: Key Healthcare Data, 2009-2014
108
Industry Trends & Developments
111
Regulatory Development
122
Medical Device Regulations
122
Medical Device Pricing & Reimbursement
137
Competitive Landscape
140
Domestic Medical Device Production
140
Table: Summary Sector Trends, 1999-2007 (USDmn)
140
Table: Medical Equipment Production By Category, 2007 (USDmn)
141
Table: US Census Bureau NAICS Codes & Description
143
Table: Establishments & Employees By Industry Sector, 2012
144
National Medical Device Manufacturers
144
Multinational Market Activity
161
Table: Multinational Market Activity, 2015
161
Medical Device Market Access
165
Distribution
165
Trade Organisations
166
Trade Shows
167
Methodology
168
Forecast Methodology
168
Trade Code Classifications
169
Table: Used HS Trade Codes
169
Table: Rearranged HS Trade Codes
171
Risk/Reward Index Methodology
174
Table: Medical Devices Risk/Reward Index Indicators
175
Sources
177
Contact
178

The United States Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.

Detailed product breakdown for market, trade and production data in United States provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the United States Medical Devices industry.

Key Benefits

  • Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for United States, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in United States.
  • Target Business Opportunities in the United States Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in United States.
  • Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.

SWOT

SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts

Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.

Macroeconomic Forecasts

Presents macroeconomic forecasts impacting the medical devices market.

Industry Risk Reward Index

Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.

Market Overview

Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.

Industry Trends & Developments

Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.

Regulatory developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

Competitive Landscape

Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc