Updated Nov 28, 2022 03:38

Market for Surgical And Medical Instrument in the United States

Market Overview
In , the U.S. surgical and medical instrument market increased by % to $, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market failed to regain momentum.

In value terms, surgical and medical instrument production dropped to $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by % against the previous year. Surgical and medical instrument production peaked at $ in , and then fell slightly in the following year.


Consumption
In , consumption of surgical and medical instruments increased by % to tons, rising for the fourth consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak volume of tons. From 2017 to , the growth of the consumption remained at a lower figure.

The size of the surgical and medical instrument market in the United States rose to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $. From 2017 to , the growth of the market remained at a somewhat lower figure.


Market Forecast
Driven by increasing demand for surgical and medical instrument in the United States, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
The United States remains a net importer of surgical and medical instrument; in physical and value terms, imports consistently exceeded exports from 2013 to . In , there was a trade deficit of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.