Electromedical & X-ray Apparatus Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 1/3/2023
SIC Codes: 3844, 3845
NAICS Codes: 334510, 334517
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Electromedical & X-ray Apparatus Manufacturing Industry Profile

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 Abbott, GE Healthcare Systems, Hologic, Varian Medical Systems, and Zoll Medical, as well as divisions Johnson & Johnson. Outside the US, major companies include Hitachi Healthcare (Japan), Medtronic (Ireland), Philips (Netherlands), Siemens Healthineers (Germany), and Sonova (Switzerland).

The diagnostic imaging equipment market, which includes X-ray imaging and electromedical systems, is forecast to grow at a CAGR of 6.25% between 2021 to 2028, according to Data Bridge Market Research. North America dominates the market due to the increase in chronic diseases, growth in the geriatric population, and increase in government funding. Growth is driven by aging populations and rising occurrences of noncommunicable conditions such as heart disease and cancer.

The US electromedical and X-ray apparatus manufacturing industry includes about 1,000 establishments with combined annual revenue of about $45 billion.

COMPETITIVE LANDSCAPE

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 ...

 
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