Driving Innovation: Mechanical and Optical Processes During Rigid-flex Production
It’s Only Common Sense: Your Biggest Competitor Is Complacency
The Chemical Connection: Onshoring PCB Production—Daunting but Certainly Possible
U.S. Remains Largest Medical Device Market Estimated at Over $150 Billion
May 6, 2019 | PRNewswireEstimated reading time: 1 minute
Medical device and technology development is an area where the U.S. companies are at the forefront. According to a SelectUSA.gov publication, the United States remains the largest medical device market in the world, with a market size of around $156 billion, and it represented about 40% of the global medical device market in 2017. U.S. exports of medical devices in key product categories identified by the Department of Commerce (DOC) exceeded $41 billion in that year. The medical technology industry (commonly referred to as medical devices) consists of articles, instruments, apparatuses, or machines that are used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting, or modifying the structure or function of the body for some health purpose.
Typically, the purpose of a medical device is not achieved by pharmacological, immunological, or metabolic means. According to the report one of the components fueling the growth includes Electro-medical equipment which includes a variety of powered devices, such as pacemakers, patient-monitoring systems, MRI machines, diagnostic imaging equipment (including informatics equipment) and ultrasonic scanning devices. Recently an online journal focusing on the medical device industry seemed to echo this optimistic view of the industry publishing an article titled: "Moody's: Outlook strong for medical devices in 2019". The article said: "The medical device industry should see a stand-out year in 2019, according to a Moody's report on the industry, Medtech Dive reports." Active healthcare stocks in news today include: BioSig Technologies, Inc., Medtronic plc, Abbott Laboratories, Johnson & Johnson, General Electric Company.
The global medical device industry has demonstrated strong and sustainable growth in the recent past. Biotech companies are banking on an aging population, increasing incidence of chronic and lifestyle diseases, increasing adoption of innovative technology, many in this sector believe the industry appears to be in the robust growth. Going by a recent KPMG analysis, the medical device industry's global annual sales is forecast to rise more than 5% a year to reach nearly $800 billion by 2030.
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Better Sustainability Policies for Electronics
10/29/2025 | Diana Radovan, Global Electronics AssociationI joined the Global Electronics Association in August 2025 as the director of sustainability policy. Since then, much has happened in terms of geopolitics and in the development and re-envisioning of sustainability policies in the industry. While the European Commission has released several legislative packages to simplify sustainability requirements (“omnibus”), these developments haven’t yet settled and are not in effect. Given the many recent and ongoing public consultations, with often conflicting input from a broad range of stakeholders, final negotiations remain rather polarized among policymakers.
SMTAI 2025 Review: Reflecting on a Pragmatic and Forward-looking Industry
10/27/2025 | Marcy LaRont, I-Connect007Leaving the show floor on the final afternoon of SMTA International last week in Rosemont, Illinois, it was clear that the show remains a grounded, technically driven event that delivers a solid program, good networking, and an easy space to commune with industry colleagues and meet with customers.
Come Together: Tom Marktscheffel Used Data to Build CFX and a Global Factory Standard
10/27/2025 | Sandy Gentry, Community MagazineWhen Tom Marktscheffel, director of product management software solutions at ASMPT, looks back on his nearly three decades in electronics manufacturing, one word stands out: data. “Data is the new gold,” he says. Without it, automation, artificial intelligence, and the factory of the future are impossible. With it, the industry can move from manual, error-prone processes to smart, connected systems that make real-time decisions.
Simplifying Software Integration for Every Factory
10/22/2025 | Nolan Johnson, SMT007 MagazineAs a leading provider of factory digitalization solutions for electronics manufacturers, Cogiscan is at the heart of the software integration process. Davina McDonnell, director of marketing and product management, discusses how Cogiscan ensures that customers are ready to integrate and what it looks for to ensure a quick and appropriate installation.
MES Software Tools Need Thoughtful Integration
10/21/2025 | Nolan Johnson, SMT007 MagazineThe Global Electronics Association recently published a survey report on the state of EMS production software. This project, led by Thiago Guimaraes, director of industry intelligence, connects the dots across the global electronics value chain to uncover practical insights that individual companies might not have seen on their own. In this interview, Thiago discusses the whys and hows of this report.