U.S. Medical Device Manufacturers Market: 3M Healthcare, Abbott, GE Healthcare, And Medtronic PLC

 U.S. Medical Device Manufacturers Industry Overview

The U.S. medical device manufacturers market size was valued at USD 176.7 billion in 2020 and is anticipated to exhibit a compound annual growth rate (CAGR) of 5.0% over the forecast period. The rising prevalence of chronic diseases and the increasing geriatric population in the country are the key market drivers. The onset of chronic diseases is more commonly prevalent between the age group of 45 and 54 years. Consumable medical devices and patient aids, such as gloves, syringes, masks, PPE kits, infrared thermometers, pulse oximeter, and testing kits, observed a sudden upsurge in demand owing to the COVID-19 pandemic. The scenario set off lucrative opportunities for both existing players and new entrants.

However, medical devices used in elective procedures, such as bariatric surgeries, joint replacement surgeries, and cosmetic surgeries, experienced a decline in demand. The market recovery can be expected from mid-2021 onwards with favorable government initiatives to re-launch elective procedures. There has been a recent increase in demand for minimally invasive surgeries and this is consequently expected to drive the market for medical device suppliers. Minimally invasive surgeries involve smaller incisions, shorter hospital stay, rapid wound healing, lesser pain & surgical wounds, and lower risk of complications than open surgeries. They also aid in controlling healthcare costs.

Gather more insights about the market drivers, restrains and growth of the U.S. Medical Device Manufacturers market

According to the ASPS annual plastic surgery statistics report, there were more than 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2018, a number that has risen steadily over the past five years. Such factors will boost the market over the forecast period. Since injectable pens are mostly used in diseases such as arthritis, diabetes, osteoporosis, growth hormone deficiency, and anaphylaxis, the increasing prevalence of these diseases is expected to drive the market for injectable devices. Favorable reimbursement policies, such as the U.S. Medicare system, have been playing an important role in the growth of the bronchoscopes market.

Some of the bronchial procedures for which reimbursements are available are bronchial or endobronchial biopsy, transbronchial lung biopsy, bronchoalveolar lavage, and rigid and flexible bronchoscopy. The favorable reimbursement structure is expected to fuel market growth. Other factors that boost market growth include rising cases of lifestyle-associated health conditions, accidents, and sports injuries. Growing demand for effective emergency care and increasing adoption of mobile surgery centers are also expected to drive the market during the forecast period.

 

Browse through Grand View Research's Biotechnology Industry Research Reports.

  • Pharmaceutical Filtration Market - The global pharmaceutical filtration market size was estimated at USD 13.7 billion in 2016 and is expected to witness lucrative growth during the forecast period. Increasing emphasis on biologics and their development for the treatment of various diseases is a major attribute expected to trigger growth.

 

  • Protein Engineering Market - The global protein engineering market size was valued at 823.0 million in 2016 and is anticipated to grow at a CAGR of 15.9% throughout the forecast period. The market is predominantly driven by increasing preference for protein therapeutics over non-protein drugs. The high preference is presumed to be a consequence of positive clinical outcomes associated with these drugs.

 

U.S. Medical Device Manufacturers Market Segmentation

Grand View Research has segmented the U.S. medical device manufacturers market on the basis of type:

U.S. Medical Device Manufacturers Type Outlook (Revenue, USD Billion, 2016 - 2028)

  • Diagnostic Imaging
  • Consumables
  • Patient Aids
  • Orthopedics
  • Others

 

Market Share Insights

  • April 2017: Abbott and Alere amended the terms of their merger agreement for the former’s acquisition of the latter to expand Abbott’s global presence and leadership in diagnostics.

 

Key Companies profiled:

Some prominent players in the global U.S. Medical Device Manufacturers market include

  • 3M Healthcare
  • Abbott
  • Baxter International, Inc.
  • Braun Melsungen AG
  • GE Healthcare
  • Johnson & Johnson Services, Inc.
  • Medtronic PLC
  • Boston Scientific Corp.

 

Order a free sample PDF of the U.S. Medical Device Manufacturers Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Popular posts from this blog

Drug Addiction - Pipeline Review, H1 2017 Market Overview and trends research report

All Countries Dialyzer Industry 2013-2028 - Market Size, Share, Outlook, Growth, Key Players and Forecast

Insights into the Medical Waste Disposal Category: A Comprehensive Procurement Intelligence Report