Medical Devices

Medical device technologies are and will continue to be one of the fastest growing and most important industries in the United States. Our aging population is on target to become the largest population segment, with ages 65 and older projected to more than double from 46 million today to over 98 million by 2060, therefore becoming an enormous medical consumer group.

Medical Devices

Medical device technologies are and will continue to be one of the fastest growing and most important industries in the United States. Our aging population is on target to become the largest population segment, with ages 65 and older projected to more than double from 46 million today to over 98 million by 2060, therefore becoming an enormous medical consumer group.

The need for innovation and quality medical solutions can not be overstated. In 1960 the average lifespan of a male was 66 years and 73 years for women according to National Center for Health Statistics. Now the average lifespan for a male born in 2021 is 83.3, and 87 for a women, according to social security online life expectancy calculator.

Nationwide exposure

While many medical device companies are located in tech hubs and large cities, they can be found all over the US. At 6,500 strong, medical device businesses are popping up everywhere. They can be found right here in Illinois or from Florida to Massachusetts, and Texas to Washington. The vast majority (80%) of these companies have 50 or fewer employees and some are start-ups.

Huge R&D investments

Regardless of the age or size of these companies, the US medical device industry is highly regarded worldwide. The US medical device industry continues to dominate because our investment in research and development is consistently more than double that of all other US manufacturing businesses. According to EvaluateMedTech® World Preview 2016, Outlook to 2022, the Medtech R&D spend forecast is to grow by 4.3% per annum to $34.0bn in 2022.

DEVICE INDUSTRY

Value of total exports

Based on North American Industry
Classification System (NAICS)

SURGICAL & MEDICAL INSTRUMENTS

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%
Includes anesthesia apparatus, orthopedic instruments, optical diagnostic apparatus, blood transfusion devices, syringes, hypodermic needles, catheters

SURGICAL APPLIANCES & SUPPLIES

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%
Includes artificial and limbs, stents, orthopedic appliances, surgical dressings, disposable surgical drapes, hydrotherapy appliances, surgical kits, rubber medical and surgical gloves, wheelchairs

ELECTRO-MEDICAL & ELECTRO-THERAPEUTIC APPARATUS

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%
Includes pacemakers, patient-monitoring systems, MRI machines, diagnostic imaging equipment, ultrasonic scanning devices

IN-VITRO DIAGNOSTIC SUBSTANCES

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%
Includes chemical, biological, or radioactive substances

IRRADIATION APPARATUS

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%
Includes X-ray devices, diagnostic imaging equipment, computed tomography equipment

OPHTHALMIC GOODS

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%
Includes eyeglasses, frames, lenses, related optical and magnification products

DENTAL EQUIPMENT & SUPPLIES

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%
Includes dental hand instruments, drills, sterilizers, dental chairs, plaster, amalgams, cements

The U.S. LEADS

  • World production of medical devices
  • Global consumption of medical devices
  • Medical device market with a value of $140+ billion ~45% of the global market

$43 BILLION with 1.5% ANNUAL GROWTH

2015 total value of U.S. industry production shipments under medical NAICS categories

Functions We Place:

  • CEO/President
  • CIO/CTO/CFO/COO/CPO/CRO
  • VP’s, Directors and Managers in a variety of functions:
    • Accounting & Finance
    • Engineering, IT & Digital Transformation
    • Human Resources & Talent Acquisition
    • Operations, Manufacturing, Logistics, Quality & Innovation
    • Sales & Marketing

Have a Job Opening?

Contact Jeanine Ellison

Contact Jeanine Ellison

444 South Rand Road,
Suite 10IL
Lake Zurich, IL 60047-3109
Phone: 847-550-1300 ext 44

Contact David Florence

Contact David Florence

444 South Rand Road,
Suite 10IL
Lake Zurich, IL 60047-3109
Phone: 847-550-1300 ext 43