U.S. Surgical And Medical Instrument Market. Analysis And Forecast to 2025
U.S. Surgical And Medical Instrument Market Reached 36B USD in 2015
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According to market research conducted by IndexBox, from 2008 to 2015, the U.S. surgical and medical instrument market showed positive dynamics. In 2015, the surgical and medical instrument market reached X million USD, which was X million USD (X%) more than in 2014.
U.S. growth in surgical and medical instrument consumption is expected to decelerate to +X% (currently +X%) in the medium term, amid excise tax load and increasing marketing costs. The main growth driver of consumption is higher health insurance coverage. High consumption growth rate in recent years can be explained by strong employment growth which leads to a rise in income, providing a solid base of consumer spending, which will continue for the medium term.
U.S. surgical and medical instrument manufacturing illustrated steady growth over the last few years. In 2014, the value of shipments in the industry reached X million USD, rising with a CAGR of +X% from 2008 to 2015.
Intense competition from imports, particularly from Mexico, has increasingly constrained industry performance during this period. Mexico was the main supplier of surgical and medical instrument into the U.S., accounting for X% of total U.S. imports in 2015. It was followed by Ireland (X%), Germany (X%), Costa Rica (X%), Switzerland (X%), and China (X%), with a combined share of X% of total imports. Mexico's share grew with a CAGR of +X% from 2007 to 2015, however, China (+X% per year), Switzerland (+X% per year) and Costa Rica (+X% per year) were the fastest growing suppliers over the period under review. Mexico, China, Costa Rica, and Switzerland strengthened their positions in the U.S. import structure. By contrast, Ireland and Germany saw their shares reduced.
U.S. exports of surgical and medical instruments have experienced steady growth since 2007. The export growth rates were higher than those of production and consumption. As U.S. companies improved their positions on overseas markets, domestic manufacturers enjoyed a new growth driver. In 2015, Belgium (X%), Netherlands (X%), Japan (X%), and Mexico (X%) were the main destinations of U.S. surgical and medical instrument exports. The share exported to Belgium increased (+X percentage points), while the shares of the other leaders remained relatively stable throughout the analyzed period.
Do you want to know more about the U.S. surgical and medical instrument market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- surgical and medical instrument market share
- surgical and medical instrument prices
- surgical and medical instrument industry
- surgical and medical instrument sales
- surgical and medical instrument market forecast
- surgical and medical instrument price forecast
- key surgical and medical instrument producers
Source: IndexBox AI Platform
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