U.S.: Market for Surgical And Medical Instruments 2024

Market Size for Surgical And Medical Instruments in the U.S.

In 2023, after eight years of growth, there was significant decline in the U.S. surgical and medical instrument market, when its value decreased by X% to $X. Over the period under review, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2022, and then contracted in the following year.

Production of Surgical And Medical Instruments in the U.S.

In value terms, surgical and medical instrument production reduced modestly to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Surgical and medical instrument production peaked at $X in 2022, and then shrank modestly in the following year.

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Exports of Surgical And Medical Instruments

Exports from the U.S.

In 2023, after five years of growth, there was significant decline in overseas shipments of surgical and medical instruments, when their volume decreased by X% to X tons. In general, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2022, and then shrank in the following year.

In value terms, surgical and medical instrument exports reached $X in 2023. The total export value increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in years to come.

Exports by Country

Mexico (X tons) was the main destination for surgical and medical instrument exports from the United States, with a X% share of total exports. Moreover, surgical and medical instrument exports to Mexico exceeded the volume sent to the second major destination, the Dominican Republic (X tons), threefold. Costa Rica (X tons) ranked third in terms of total exports with an X% share.

From 2013 to 2023, the average annual growth rate of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Costa Rica (X% per year).

In value terms, the largest markets for surgical and medical instrument exported from the United States were the Netherlands ($X), Mexico ($X) and China ($X), with a combined X% share of total exports. Canada, Belgium, Ireland, Costa Rica, Singapore, the UK, the Dominican Republic, France, Spain and Denmark lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Costa Rica, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average surgical and medical instrument export price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X,121 per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Surgical And Medical Instruments

Imports into the U.S.

In 2023, purchases abroad of surgical and medical instruments decreased by X% to X tons for the first time since 2012, thus ending a ten-year rising trend. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at X tons in 2022, and then shrank in the following year.

In value terms, surgical and medical instrument imports stood at $X in 2023. In general, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

Imports by Country

Mexico (X tons), China (X tons) and Costa Rica (X tons) were the main suppliers of surgical and medical instrument imports to the United States, with a combined X% share of total imports. Malaysia, the Dominican Republic, Ireland, Japan, Germany, Taiwan (Chinese), Hungary, Italy, Israel and South Korea lagged somewhat behind, together comprising a further X%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of surgical and medical instruments to the United States, comprising X% of total imports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total imports. It was followed by Ireland, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Ireland (X% per year).

Import Prices by Country

The average surgical and medical instrument import price stood at $X per ton in 2023, with an increase of X% against the previous year. In general, the import price, however, recorded a abrupt setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform