|Last Quarterly Update:||12/16/2013|
|SIC Codes:||2599, 3821, 3841, 3842, 3843|
|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 medical equipment and supplies, including surgical and medical instruments, dental equipment, and surgical appliances. Major companies include Baxter International, Boston Scientific, Johnson & Johnson, and Medtronic (all based in the US), as well as B Braun (Germany), PRIM (Spain), Smith & Nephew (UK), and Terumo (Japan).
Global revenue for makers of medical equipment and supplies is about $350 billion. Major markets include the US, Japan, Germany, France, and Italy.
The US medical equipment and supplies manufacturing industry includes about 11,000 companies with combined annual revenue of about $90 billion. Key growth drivers include advances in technology and the increasing number of people over 65 who will increasingly need medical care.
Medical equipment and supplies manufacturers produce surgical, ophthalmic, and dental instruments and disposable supplies (syringes, gloves) used in the medical field. The industry doesn't include the manufacture of x-ray or electromedical equipment and devices, such as ultrasound equipment, pacemakers, and electrocardiographs, which is covered in a separate industry profile.
Demand is driven by population demographics and advances in medical knowledge and technology. The profitability of individual companies depends on the ability to develop superior products. Large companies have 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 percent ...
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