U.S.: Market for Surgical And Medical Instruments 2024

Market Size for Surgical And Medical Instruments in the U.S.

For the fourth consecutive year, the U.S. surgical and medical instrument market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption saw significant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Surgical And Medical Instruments in the U.S.

In value terms, surgical and medical instrument production reduced to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2013 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Surgical and medical instrument production peaked at $X in 2021, and then contracted slightly in the following year.

Exports of Surgical And Medical Instruments

Exports from the U.S.

In 2022, overseas shipments of surgical and medical instruments increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, surgical and medical instrument exports rose sharply to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons) was the main destination for surgical and medical instrument exports from the United States, with a X% share of total exports. Moreover, surgical and medical instrument exports to Mexico exceeded the volume sent to the second major destination, Costa Rica (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with an X% share.

From 2013 to 2022, the average annual growth rate of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for surgical and medical instrument exported from the United States were the Netherlands ($X), Mexico ($X) and China ($X), together accounting for X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average surgical and medical instrument export price stood at $X per kg in 2022, growing by X% against the previous year. Over the period under review, the export price, however, faced a dramatic curtailment. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per kg in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per kg), while the average price for exports to Denmark ($X per kg) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced a decline.

Imports of Surgical And Medical Instruments

Imports into the U.S.

In 2022, surgical and medical instrument imports into the United States expanded remarkably to X tons, picking up by X% on the previous year's figure. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, surgical and medical instrument imports expanded sharply to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X tons), China (X tons) and Costa Rica (X tons) were the main suppliers of surgical and medical instrument imports to the United States, with a combined X% share of total imports. The Dominican Republic, Ireland, Malaysia, Taiwan (Chinese), Japan, Germany, Israel and Hungary lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of surgical and medical instruments to the United States, comprising X% of total imports. The second position in the ranking was taken by Costa Rica ($X), with an X% share of total imports. It was followed by Ireland, with a X% share.

From 2013 to 2022, the average annual growth rate of value from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Ireland (X% per year).

Import Prices by Country

The average surgical and medical instrument import price stood at $X per kg in 2022, leveling off at the previous year. Overall, the import price faced a dramatic descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per kg in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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