|Last Quarterly Update:||2/27/2017|
|SIC Codes:||3844, 3845|
|NAICS Codes:||334510, 334517|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry manufacture magnetic resonance imaging and ultrasound equipment, pacemakers and other devices, and irradiation apparatus for medical or industrial uses. Major US companies include Hologic, St Jude Medical, Varian Medical Systems, and Zoll Medical, as well as divisions of General Electric and Johnson & Johnson. Outside the US, major companies include Hitachi Healthcare (Japan), Medtronic (Ireland), and Sonova (Switzerland).
The aging of the world's population and the rising incidence of cancer, heart disease, and other conditions is helping drive demand for electrotherapeutic, electromedical, and X-ray devices. Established markets such as the US, Western Europe, and Japan are top sales regions for the industry. Developing nations such as Brazil, Russia, India, and China are targeted by companies in the industry for growth.
The US electromedical and X-ray apparatus manufacturing industry includes about 900 companies with combined annual revenue of about $39 billion.
Demand is driven by technological advancements, demographics (the aging US population drives the need for medical products), and the needs of the health care industry. The profitability of individual companies depends on efficient operations and effective marketing. Large companies enjoy economies of scale in research, manufacturing, marketing, and distribution. Smaller companies can compete effectively by developing innovative technologies or specialty products for niche markets, such as cancer therapy apparatus. In the US, both the electromedical and the X-ray apparatus segments are highly concentrated: the 50 largest companies ...
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