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Fastest-Growing U.S. Manufacturers of Medical Devices & Equipment

Posted by IndustrySelect on Wednesday, March 18, 2020

100048_medical

3 MIN. READ

The multi-billion dollar medical and surgical instrument manufacturing industry is predicted to grow substantially in the future.

Although the industry is in the midst of a mild stagnation period due to international trade instabilities, the demand for these devices is so strong that industry contraction has been mostly avoided.

Medical and surgical instruments cover a wide variety of machines, tools and equipment used in healthcare and surgery. The majority of these products must be made for compliance with sterile conditions.

Technology and the Future

The future of the medical and surgical instrument manufacturing industry is buoyed by rapid advances in technology, specifically artificial intelligence (AI), Internet of Things, nanotech and telemedicine. Rather than requiring patients to visit a doctor's office or hospital, telemedicine allows medical professionals to meet with and diagnose patients anywhere in the world through specialized video conferencing systems.

Closely associated with telemedicine is automated home care technology. To dovetail with the convenience of being diagnosed at home, treatment systems are also being customized for use outside of hospitals.

Currently, the vast majority of these treatments are designed for the elderly, but the technology is still in its early stages. Many more population segments will undoubtedly benefit from this technology in the future.

Developed and emerging nations' demand for improved healthcare is increasing healthcare spend. However, according to data collected by MNI, the growth has slowed due to trade war uncertainty and supply chain issues.

The increase in sales over the previous year is only 0.11%.

Charting Industry Growth

Here are the nine fastest growing healthcare technology companies in the United States:

1. Edwards Lifesciences Corp.
Location: Draper, UT
Employees on site: 4,000

Edwards Lifesciences Corp engineers and produces hemodynamic monitoring systems, cardiac surgery instruments, heart valves and critical care technology.

2. Terumo BCT Inc.
Location: Lakewood, CO
Employees on site: 3,000

Terumo specializes in blood collection, separation and processing. They also provide FDA approved manufacturing for other medical instrument suppliers.

3. Abbott Laboratories Inc.
Location: Plano, TX
Employees on site: 750

With $30.6 billion in revenue in 2018, Abbott Laboratories produces nearly every type of medical instrument known to exist.

4. Stryker Neurovascular
Location: Freemont, CA
Employees on site: 800

Neurovascular care has become more effective and less invasive with Stryker's ischemic and hemorrhagic stroke products. Products include stents and aneurysm coils.

5. Cook Polymer Technologies
Location: Bloomington, IN
Employees on site: 700

The plastics manufacturing division of Cook Medical, Cook Polymer produces medical device components and related sub-assemblies.

6. Paragon Medical Inc.
Location: Pierceton, IN
Employees on site: 540

Paragon has the capability to manufacture instruments in steel, cobalt chrome, titanium, Radel, PEEK and Acetal.

7. Heraeus Medical Components LLC.
Location: St. Paul, MN
Employees on site: 500

Heraeus specializes in both active and interventional devices. Active devices refer to internally-mounted systems that keep patients healthy by regulating heartbeats, nervous system activity or vision.

8. Phillips-Medisize Corp.
Location: New Richmond, WI
Employees on site: 500

As an international contract designer and manufacturer, Phillips-Medsize has produced hundreds of millions of instruments, including hemostatic valve systems, single use surgical devices and catheter systems.

9. Insulet Corp.
Location: Billerica, MA
Employees on site: 400

Insulet is revolutionizing insulin delivery with their patented Ominpod wearable insulin delivery system.

Connect with Healthcare Technology Manufacturers

IndustrySelect provides a wealth of data on every given manufacturer all in one place, which is especially beneficial to marketing staff or sales team to make those connections.

IndustrySelect data is powered by MNI, compiler and publisher of industrial information since 1912. Over its 106-year history, MNI has been helping marketing and sales teams reach the right people and make a difference in the lives of customers.

IndustrySelect subscribers can find data on 400,000 manufacturers while building customized prospect lists. Premium subscribers receive access to executive's direct email contact information.

Try out a free demo today.


Article Sources:

https://www.ncbi.nlm.nih.gov/books/NBK315926/

https://www.healthcareitnews.com/category/resource-topic/telehealth

https://en.wikipedia.org/wiki/Abbott_Laboratories

https://www.stryker.com/us/en/portfolios/neurotechnology-spine/neurovascular.html

https://www.bloomingtonlifesciences.com/cook-polymer-technologies/

http://www.paragonmedical.com/products_surgical_instruments.html

http://www.paragonmedical.com/capabilities.html

https://www.heraeus.com/en/hmc/products_solutions/products_solutions_hmc/products.html

https://www.phillipsmedisize.com/who-we-serve/medical-devices

https://www.insulet.com/

 

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