Research and Markets: The USA Medical Device Market Looks Set To Break the US$100 Billion Barrier By 2012

Business Wire

posted: 23 DAYS 1 HOUR AGO

Research and Markets (http://www.researchandmarkets.com/research/581863/the_medical_device) has announced the addition of the "The Medical Device Market: USA" report to their offering.

This in-depth medical device market report is ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

Executive Summary

With a population over 300 million, the USA is the third largest country in the world, behind China and India. The largest state is California, with a population of 36 million.

At an estimated US$91.3 billion in 2009, the US medical device market is the world's largest, accounting for 41% of the global total. Per capita expenditure, at US$298, is the highest in the world. While growth has slowed in recent years, the market is still one of the best-performing in the world, and looks set to break the US$100 billion barrier by 2012.

Much of the market is in private hands; there is no single health system. Public healthcare systems, known as Medicaid, for those on low incomes, are operated by each State. Since 1960, the Medicare system has provided hospital care for the elderly; this has also provided prescription drug coverage since 2006. A number of states are implementing their own universal healthcare plans in the absence of a federal initiative. Reform of the healthcare system is a near certainty following the inauguration of President Obama, but it remains to be seen how radical the new president and his allies in Congress decide to be on the issue.

The USA is home to many of the world's leading medical device manufacturers, such as Johnson & Johnson, General Electric, Baxter, Tyco and Medtronic. Seven out of the world's top ten device manufacturers are US companies.

Imports are forming an increasingly significant part of the market, and now account for around 34% of the total. This growth is partly explained by US manufacturers using cheap locations abroad, such as Ireland or Mexico, in order to re-export to the US market.

The market is highly regulated, and can be an expensive one in which to operate. It is, however, transparent and 'rules-based'. The US is a major site for R&D and clinical trials.

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