Medical Equipment & Supplies Manufacturing Industry Profile

Companies in this industry manufacture medical equipment and supplies, including surgical and medical instruments, dental equipment, ophthalmic goods, and surgical appliances. Major companies include Baxter International, Boston Scientific, Johnson & Johnson, and Stryker (all based in the US), as well as B Braun (Germany), EssilorLuxottica (France), Smith & Nephew (UK), and Terumo (Japan).

Global revenue for the medical equipment market is forecast to reach about $960 billion in 2032 at a 6.5% compound annual growth rate (CAGR), according to SkyQuest. Major markets include Germany, Spain, Japan, the UK, and the US, according to Statista.

The US medical equipment and supplies manufacturing industry includes more than 10,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $90 billion.

The industry does not include manufacturing of x-ray or electromedical equipment and devices, such as ultrasound equipment, pacemakers, and electrocardiographs, which is covered in a separate industry profile.

COMPETITIVE LANDSCAPE

As pressure to lower health care costs grows, companies are challenged to create more effective medical equipment while controlling price increases. Consolidation is widespread as larger companies look for economies of scale in manufacturing and R&D. Small companies can compete successfully by specializing in a particular market segment, or through technical innovation. The US industry is concentrated: the 50 largest companies account for about 60% of revenue.

Imports of medical equipment and supplies account for about 40% of the US ...