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    Medical Equipment & Supplies Manufacturing Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 3/29/2021
    SIC Codes: 2599, 3821, 3841, 3842, 3843
    NAICS Codes: 3391
    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 Medical Equipment & Supplies Manufacturing Industry Profile

    Companies in this industry manufacture medical equipment and supplies, including surgical and medical instruments, dental equipment, ophthalmic goods, and surgical appliances. Major companies include Baxter International, Boston Scientific, Johnson & Johnson, and Stryker (all based in the US), as well as B Braun (Germany), EssilorLuxottica (France), Smith & Nephew (UK), and Terumo (Japan).

    Global revenue for makers of medical equipment and supplies is about $442 billion in 2020, with annual growth of 6.1% from 2021 to 2023, reaching a value of $603 billion by the end of the forecast period, as per The Business Research Company. Major markets include the US, Japan, Germany, France, the UK, Italy, and China.

    The US medical equipment and supplies manufacturing industry includes about 10,100 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $88.5 billion.

    The industry does not include manufacturing of x-ray or electromedical equipment and devices, such as ultrasound equipment, pacemakers, and electrocardiographs, which is covered in a separate industry profile.

    COMPETITIVE LANDSCAPE

    As pressure to lower health care costs grows, companies are challenged to create more effective medical equipment while controlling price increases. Consolidation is widespread as larger companies look for economies of scale in manufacturing and R&D. Small companies can compete successfully by specializing in a particular market segment, or through technical innovation. The US industry is concentrated: the 50 largest companies account for about 60% of ...

     
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