The United States remains the largest medical device market in the world with a market size of around $148 billion, and it is expected to reach $155 billion by 2017. The U.S. market value represented about 43 percent of the global medical device market in 2015. U.S. exports of medical devices in key product categories identified by the Department of Commerce (DOC) exceeded $44 billion in 2015.
There are more than 6,500 medical device companies in the United States, mostly small and medium-sized enterprises (SMEs). Medical device companies are located throughout the country, but are mainly concentrated in regions known for other high-technology industries, such as microelectronics and biotechnology. The states with the highest number of medical device companies include California, Florida, New York, Pennsylvania, Michigan, Massachusetts, Illinois, Minnesota and Georgia. Other states with significant sector employment include Washington, Wisconsin, and Texas.
The United States also holds a competitive advantage in several industries that the medical device industry relies upon, including microelectronics, telecommunications, instrumentation, biotechnology, and software development. Collaborations have led to recent advances including neuro-stimulators, stent technologies, biomarkers, robotic assistance and implantable electronic devices. Since the industry is fueled by innovation and the ongoing quest for better ways of treating or diagnosing medical problems, the future growth of this sector remains positive.
Electro-medical equipment: Includes a variety of powered devices, such as pacemakers, patient-monitoring systems, MRI machines, diagnostic imaging equipment (including informatics equipment), and ultrasonic scanning devices.
Irradiation apparatuses: Includes X-ray devices and other diagnostic imaging, as well as computed tomography equipment.
Surgical and medical instruments: Includes anesthesia apparatuses, orthopedic instruments, optical diagnostic apparatuses, blood transfusion devices, syringes, hypodermic needles, and catheters.
Surgical appliances and supplies: Includes artificial joints and limbs, stents, orthopedic appliances, surgical dressings, disposable surgical drapes, hydrotherapy appliances, surgical kits, rubber medical and surgical gloves, and wheelchairs.
Dental equipment and supplies: Includes equipment, instruments, and supplies used by dentists, dental hygienists, and laboratories. Specific products include dental hand instruments, plaster, drills, amalgams, cements, sterilizers, and dental chairs.
ICI understands the industry and its need for meeting regulatory approvals & validations, technological innovation, timely research & development, and health & safety concerns. Our market expertise and updated technical knowhow along with our value-added capabilities, makes ICI the complete solution provider for the Medical Devices Industry.