The United States remains the largest medicaldevice market in the world with a market size of around $110 billion, and it isexpected to reach $133 billion by 2016. The U.S. market value represented about 38 percent of theglobal medical device market in 2012. U.S.exports of medical devices in key product categories identified by theDepartment of Commerce (DOC) exceeded $44 billion in 2012, a more than 7percent increase from the previous year.
There are more than 6,500 medical devicecompanies in the U.S., mostly small and medium-sized enterprises (SMEs). More than 80 percent of medical devicecompanies have fewer than 50 employees, and many (notably innovative start-upcompanies) have little or no sales revenue.Medical device companies are located throughout the country, but aremainly concentrated in regions known for other high-technology industries, suchas microelectronics and biotechnology.The states with the highest number of medical device companies includeCalifornia, Florida, New York, Pennsylvania, Michigan, Massachusetts, Illinois,Minnesota and Georgia. Other states withsignificant sector employment include Washington, Wisconsin, and Texas.
U.S. medical devicecompanies are highly regarded globally for their innovations and hightechnology products. Investment inmedical device research and development more than doubled during the 1990s, andresearch and development investment in the domestic sector remains more thantwice the average for all U.S. manufacturers.
The United States also holds a competitiveadvantage in several industries that the medical device industry relies upon,including microelectronics, telecommunications, instrumentation, biotechnology,and software development. Collaborationshave led to recent advances including neuro-stimulators, stent technologies,biomarkers, robotic assistance and implantable electronic devices. Since the industry is fueled by innovationand the ongoing quest for better ways of treating or diagnosing medical problems,the future growth of this sector remains positive.
Industry Subsectors
Electro-medicalequipment: Includes avariety of powered devices, such as pacemakers, patient-monitoring systems, MRImachines, diagnostic imaging equipment (including informatics equipment), andultrasonic scanning devices.
Irradiationapparatuses: Includes X-raydevices and other diagnostic imaging, as well as computed tomography equipment.
Surgical andmedical instruments: Includes anesthesia apparatuses, orthopedic instruments,optical diagnostic apparatuses, blood transfusion devices, syringes, hypodermicneedles, and catheters.
Surgicalappliances and supplies: Includes artificial joints and limbs, stents, orthopedicappliances, surgical dressings, disposable surgical drapes, hydrotherapyappliances, surgical kits, rubber medical and surgical gloves, and wheelchairs.
Dentalequipment and supplies: Includes equipment, instruments, and supplies used bydentists, dental hygienists, and laboratories. Specific products include dental handinstruments, plaster, drills, amalgams, cements, sterilizers, and dentalchairs.
Industry Associations:
American Association of Medical Colleges
American Health Information Management Association
American Hospital Association
American Medical Association
Health Information Management and Systems Society
Advanced Medical Technology Association (AdvaMed)
American Orthotic and Prosthetic Association
BIOCOM
Contact Lens Manufacturers Association
Dental Trade Alliance
Health Industry Business Communications Council
Hearing Industries Association
Independent Medical Distributors Association
International Association of Medical Equipment Remarketers and Servicers
LifeScience Alley
Medical Device Manufacturers Association (MDMA)
National Association for Home Care & Hospice
TechAmerica
The Association of Electrical and Medical Imaging Equipment Manufacturers
The Society for Biomaterials
The Vision Council
Industry Publications:
Health Affairs
Hospitals and Health Networks
Managed Healthcare Executive
Modern Healthcare
Business Monitor International
Clinica
Espicom
FDA News
Journal of Medical Devices
Medical Design
Medical Device and Diagnostic Industry
Medical Device Daily
Medical Product Manufacturing News
The Gray Sheet
