Business Monitor International


United States Medical Devices Report

Published 19 February 2014

  • 197 pages
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$1,295.00
United States Medical Devices Report

Espicom Industry View : The US medical market is forecast to see steady growth over the next five years, despite the impact of the newly introduced Medical Device Excise Tax and uncertainties within the healthcare system in the wake of the Patient Protection and Affordable Care Act. Imports have been growing in line with the market, which remains by far the world's largest. Exports are continuing to rise as US manufacturers seek out opportunities in emerging global markets.

Headline Industry Forecasts

  • At an estimated US$127.1bn in 2013, the US medical device market is the world's largest. Per capita expenditure, at US$399, is also the highest in the world. The market is projected to grow at a CAGR of 5.6% over the 2013-2018 period, as it settles down into a more consistent pattern after the volatile 2008-2013 period.

  • Medical device imports increased by 2.2% to reach a record high of US$36,102mn in 2012. Over the last ten years, the only year not to show an increase was 2009 when the impact of the global economic crisis led to a 5.9% fall in imports. Imports increased at a CAGR of 5.5% over the 2007-2012 period. The running annual total reached US$37.6bn in the 12 months to November 2013, representing y-on-y growth of 3.9%.

  • Medical device exports grew at a CAGR of 7.3% over the 2007-2012 period. The running annual total reached US$43.7bn in the 12 months to November 2013, representing y-on-y growth of 2.2%. The balance of trade surplus has been steadily climbing, reaching US$6.8bn in 2012.

  • Many of the world's leading medical device companies are based in the US. The top ten US medical device manufacturers achieved combined global revenues of US$121.5bn in fiscal 2012, an increase of 2.3% over 2011.

Headline Industry Risk/Reward Rating

  • The USA is the most attractive market in the Americas region for commercialising a medical device, according to BMI Espicom's Medical Device Risk/Reward Ratings (RRRs). The country's overall score for Q214 is 78.1...

Table of Contents

Espicom Industry View
7
SWOT
9
Medical Device Market
9
Political
10
Economic
11
Business Environment
12
Industry Forecast
13
Medical Device Market Forecast
13
Table: Projected Medical Device Market, 2013-2018
15
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita)
20
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total)
23
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$mn % Change)
26
Consumables Market Forecast
29
Table: Consumables Market, 2008-2018 (US$mn)
30
Table: Consumables Market, 2008-2018 (US$ Per Capita)
31
Table: Consumables Market, 2009-2018 (US$mn % Change)
32
Diagnostic Imaging Market Forecast
35
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
37
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
38
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
39
Dental Products Market Forecast
41
Table: Dental Products Market, 2008-2018 (US$mn)
42
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
42
Table: Dental Products Market, 2009-2018 (US$mn % Change)
43
Orthopaedics & Prosthetics Market Forecast
45
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
46
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
46
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
47
Patient Aids Market Forecast
48
Table: Patient Aids Market
49
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
49
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
50
Other Medical Devices Market Forecast
51
Table: Other Medical Devices Market, 2008-2018 (US$mn)
52
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)
53
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
54
Annual Medical Device Imports
57
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)
60
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)
61
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)
62
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)
63
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)
65
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
67
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution)
68
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)
69
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)
70
Table: Detailed Medical Device Import Trends By Product Area, 2012
73
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
77
Monthly Medical Device Imports
81
Table: Monthly Medical Device Imports By Product Area, October 2010-November 2013 (US$mn)
81
Annual Medical Device Exports
83
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)
86
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)
87
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)
88
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)
89
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)
90
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s)
93
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution)
94
Table: Top 20 Medical Device Destinations, 2012 (US$000s)
95
Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s)
96
Table: Detailed Medical Device Export Trends By Product Area
99
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
103
Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s)
106
Monthly Medical Device Exports
109
Table: Monthly Medical Device Exports By Product Area, October 2010-November 2013 (US$mn)
109
Macroeconomic Forecasts
112
Economic Analysis
112
Table: United States - Economic Activity
120
Industry Risk Reward Ratings
121
Table: Americas Medical Device Risk/Reward Ratings, Q214
121
Market Overview
123
Medical Device Market Overview
123
Table: Medical Device Market, Key Ratios, 2013
124
Table: Medical Device Market By Product Area, 2013
125
Healthcare Overview
126
Health Status
126
Healthcare System
126
Healthcare Funding
127
Table: State Decisions On Health Insurance Marketplaces And The Medicaid Expansion (11th December 2013)
131
Table: Largest Health Insurance & Managed Care Companies By Revenue, 2012
134
Healthcare Resources
135
Table: Medical Technology By Type, 2006-2012 (Units)
135
Table: Diagnostic Exams By Type, 2005-2011
137
Healthcare Activity
138
Healthcare Personnel
138
Key Data
139
Table: Key Data, 2008-2013
139
Industry Trends & Developments
142
Regulatory Development
147
Medical Device Regulations
147
Competitive Landscape
163
Domestic Medical Device Production
163
Table: Summary Sector Trends, 1999-2007 (US$mn)
163
Table: Medical Equipment Production By Category, 2007 (US$mn)
164
Table: US Census Bureau NAICS Codes & Description
167
Table: Establishments, Workers & Shipments By Top Five States & Industry Sector, 2002
167
National Medical Device Manufacturers
168
Multinational Market Activity
182
Table: Multinational Market Activity, 2014
182
Medical Device Market Access
185
Distribution
185
Trade Organisations
186
Trade Shows
187
Methodology
188
Medical Device Market Methodology
188
Trade Code Classifications
189
Table: Used HS Trade Codes, 2014
189
Table: Rearranged HS Trade Codes, 2014
191
Risk/Reward Ratings Methodology
194
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
195
Sources
196
Contact
197

The United States Medical Devices Report features forecasts for medical devices production, imports, exports and healthcare expenditure by Espicom, a Business Monitor International company (BMI). These forecasts focus on Consumables, Diagnostic Imaging Apparatus, Dental Products, Orthopaedic and Prosthetic Devices and other medical devices.

The breakdown of domestic production, domestic manufacturing, individual trade associations and multinational activity in United States provides industry professionals, strategists, company executives, and analysts with independent forecasts and competitive intelligence on the United States medical devices industry.

Key Benefits

  • Benchmark Espicom’s Medical Devices expenditure forecasts, which take into account macroeconomic and industry-specific forecasts for United States, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in United States.
  • Target Business Opportunities in the United States medical devices market by using our assessments and projections for disease and demographic trends, regulatory developments, tax legislation and government subsidies, investment dynamics and domestic demand in United States.
  • Assess the activities and market position of your competitors via our assessments of domestic production, imports and exports, trade associations, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Covers geographic factors, political issues, and economic concerns, together with an overview of the country’s healthcare systems, health insurance regulations and health related projects which might have an impact on the country. These are presented in conjunction with estimates of health expenditure.

Market Developments

Provides analysis on the latest regulatory developments, key forecast indicators and major corporate developments, including production growth and government investment programmes.

Medical Market Analysis

Evaluates the market’s developments over the past year, comparing it with historical trends, and provides a forecast of future performance throughout our forecast period to end-2018. The report presents forecasts on the annual imports and exports for each of these sectors along with a monthly analysis of import and export trends and developments. There is also a detailed assessment of domestic production and domestic manufacturing, with a breakdown of individual trade associations, national and multinational manufacturers.

Medical Device Market Projections cover Market (US$mn), Per Capita (US$mn), (%) of total expenditure, and (%) change, for the below medical devices:

Consumables (US$mn): bandages and dressings, suturing materials, ostomy products, syringes, needles, and catheters.

Diagnostic Imaging (US$mn): electrodiagnostic, ultrasound, MRI, patient monitoring, CT scanners, X-ray apparatus, imaging parts and accessories.

Dental Products (US$mn): dental capital equipment, dental drills, dental chairs, dental X-rays, dental instruments and supplies, dental cements, teeth and other fittings.

Orthopaedic and prosthetic products (US$mn): fixation devices, artificial joints, and other artificial body parts.

Patient Aids (US$mn): portable aids, hearing aids, pacemakers, and therapeutic appliances.

Other medical devices (US$mn): wheelchairs, ophthalmic instruments, anaesthesia apparatus, dialysis apparatus, blood pressure monitors, endoscopy monitors, and hospital furniture.

Multinational Activity

Discusses the presence of multinational companies in the country, either via sales and distribution outlets, or through manufacturing facilities. ‘Domestic Manufacturing’ delineates the presence and activities of domestic medical device companies. Key company developments are incorporated, enabling a full evaluation of recent company performance and future growth prospects.

Accessing the Market

This section contains analysis of the overall market environment, distribution (including over 1,600 qualified sales agencies and distribution leads), import duties and taxes, procurement options (such as trade fairs, various expositions and procurement bodies), together with an explanation of the regulatory environment covering registration, labelling requirements and the use of second-hand equipment.

Directory

Contains details for Healthcare organisations, Professional Bodies, and Trade Associations, along with Trade Code Classifications.

Appendix – Statistical Tables

Extensive statistical tables provide historical data and forecasts from 2007-2018, identifying trends and changes in population, principle causes of death, public health expenditure, hospital data (including beds by type, discharge data, long stay patients by type), and hospital personnel.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc