North American MedTech Market Infographic
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The orthopaedic and prosthetic devices market in the US was estimated at $15.5 billion in 2013, accounting for 14.6% of the total medical devices market. The market is projected to grow at a rate of 6.4% annually from 2013 to 2016. Major market segments include orthopaedic appliances, artificial joints, and artificial body parts. The top states by revenue in the medical devices industry are California, Washington, Texas, Illinois, and Florida, together making up over 42 million people aged over 65.
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North American MedTech Market Infographic
- 1. 20% or more 10 to less than 20% 3% to less than 10% Less than 3% Total Orthopadic/Prosthetic Growth Orthopaedic appliances Artificial body parts Artificial joints Hospitals Distributors Third-Party Healthcare Providers Specialists and Alternate Care Providers Other Sources: Medical Device Manufacturing in the US, IBISWorld.com. United States of America: Medical Device Country Report, Episcom 2012. Medical Device Industry: The changing business and landscape, Korn/Ferry Institute, 2011. Capital IQ, 2012. Other Japan Germany Netherland China Other Germany Ireland Japan Mexico Other medical & Therapeutic Devices Special Devices Cardiovascular Devices Neuromodulation Devices Diabetes Devices Urology Devices Surgical Technologies 0 30K 60K 90K 120K 150K 0 5K 10K 15K 20K 25K MedTech in the U.S. PRODUCTS & MARKETS Industry at a Glance 2012 Exports vs. Imports More manufacturers are establishing operations abroad, thereby reducing the need for other countries to import devices from the United States Business Locations in 2012 by Revenue Projected Medical Device Market 2013–2016 Major Market Segmentation Products and Services Segmentation (2012) The US Orthopaedic & Prosthetic Devices Market, 2006–2013 (US$ Million) 2016 2015 2014 2013 $64.7B $5.8B $13.2B 12.8% 30% 6.4% 828 Revenue Profit Annual Growth 2012–2017 Annual Growth 2007–2012 of the market Exports Businesses $64.7 Billion 35% 25% 15% 15% 10% $64.7 Billion 36% 22% 18% 10%6% 5 % 3% Exports To… Exports To… Imports From… $13.2 Billion 64% 11% 10% 7% 8% $13.0 Billion 45% 22% 13% 11% 9% CA 22.5 WA 3.9 TX 4.6 IL 3.7 FL 5.0 MN 5.9 OH 3.0 MA 9.2 MD 3.2 NJ 3.4 MI 3.6 make up just over 42million people aged over 65 years old The US has 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 $15.5 Billion $134 Billion The market for orthopaedic & prosthetic products was estimated at $15,453 million in 2011, equal to $49.5 per capita and 14.6% of the total market. Changing regulations for medical devices will inhibit growth, but revenue will remain stable Market Strengths Market Size Regulatory Standards Academic Institutions Rising Consumerism Empowers Patients Abundance of Capital Globalization Reimbursement Attracting Venture Capital Market Threats are the top 3 grossing companies 1. 2. 3. KEY INDUSTRY SNAPSHOTS Imports Health spending as a % of GDP remains the World's Highest VS. ubmcanon.com/medical