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US medical equipment market largest in the world

Press Release   •   Aug 24, 2012 09:50 BST

At an estimated US$105.8 billion in 2011, the US medical equipment market is the world's largest. Per capita expenditure, at $339, is the third highest in the world.

The US medical equipment market has been experiencing a good growth rate, driven on by national health care expenditures.

These include the costs of new regulatory requirements to ensure product safety and effectiveness and changes in insurance coverage.

Additional factors driving the growth of the US medical equipment industry include the greater physician need for better and more precise diagnostics, imaging to guide them on patient disease status, and proper disease management, whether surgical or pharmaceutical (or both).

Imports are forming an increasingly significant part of the market, and now account for around 32% of the total. This growth is partly explained by US manufacturers using cheap locations abroad, such as Ireland or Mexico, in order to re-export to the US market.

Imports grew by 8.9% to reach $35.3 billion in 2011. All categories posted positive growth, with consumables recording the strongest rate of 12.1% for the period, reaching $5.3 billion. The largest category, diagnostic imaging, rose by 7.4% during the period to reach $8.3 million.

The USA is home to many of the world's leading medical device manufacturers, such as Johnson & Johnson, General Electric, Baxter, Stryker, Covidien and Medtronic. Seven out of the world's top ten device manufacturers are US companies.

For more information on the US medical equipment market, see the latest research: US Medical Equipment Market Report

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