BMI View : The US market , the world's largest, will see steady growth over the next five years, outstripping most other developed markets. D emand will be d riven by strong economic growth, favourable demographics , the rising prevale nce of chronic diseases , the previously uninsured population gaining access to healthcare services and the market's appetite for technologies that improve cost-effectiveness.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We maintain that the market will register robust growth over the next five years and forecast a 2014-2019 CAGR of 5.3%. We expect that this growth will increase the market from USD133.6bn in 2014 to USD173.3bn in 2019. The market will remain the world's largest by a huge margin and growth will be one of the fastest amongst the developed nations.
Import performance will remain positive in 2016. US purchasing power has increased as a result of the US dollar's appreciation against the euro and the yen, giving an additional boost to imports. Imports have been rising since 2009, and totalled USD41.0bn in the 12 months to September 2015, a y-o-y rise of 4.9%.
Currency pressures will be less damaging in 2016, but we expect exports to be subdued with an absence of significant growth until 2017. Currency depreciation against the US dollar in the EU-28 and Japan, which receive over half of exports, is making the market environment very difficult for exporters. Exports have remained almost static for the last four quarters, and decreased fractionally to USD44.1bn y-o-y in the 12 months to September 2015.
We believe the passing of legislation which includes a two-year moratorium on the 2.3% medical device tax will enable manufacturers to raise investment in R&D, increase employment and potentially build new facilities.
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.
- 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.
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 analyses of the medical devices market, the political environment, the economic landscape and the business environment.
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.
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.
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.
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.
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.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.