Companies such as Medtronic, Johnson & Johnson and Abbott Laboratories lead medical device manufacturing in the USA. Combined, these companies had over $88 billion in revenue in 2024 according to information from Alpha Sophia.
A few European countries like Germany, Switzerland and Netherlands are also prominent in the medical device industry.
What are Medical Devices?
The definition of medical devices is broad. A medical device is any appliance, equipment, software or materials which may be used by individuals for medical purposes according to News Medical Life Sciences.
These devices may not exert their action through chemical means. Therefore, drugs and pharmaceuticals are not considered medical devices.
A small sampling of medical devices: bedpans, oxygen cylinders, bandages, ultrasound equipment, MRI equipment, surgical equipment, glucose monitors, breast implants, knee replacements and wheelchairs.
Interestingly, wheelchairs are considered a medical device in the Durable Medical Equipment (DME) category. They are necessary for folks with mobility issues and are designed for long-term use.
Concentration of Medical Device Companies in the States Medical device companies are clustered in a few states according to QMed.
The top ten states are:
1. California
2. Minnesota
3. Massachusetts
4. Florida
5. Indiana
6. Pennsylvania
7. New York
8. Texas
9. New Jersey
10. Utah
Many of the top 10 states were expected because of their overall population. However, states like Minnesota, Indiana and Utah were surprising.
Demand Trends for Medical Devices
The demand for medical devices is expected to grow. The USA has an aging population which will require more medical devices. New devices and innovation could also help the medical device manufacturing industry grow.
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Since 1980, we have been manufacturing precision components for all sorts of devices and equipment.
