NAICS 33911 - Medical Equipment and Supplies Manufacturing
This industry comprises establishments primarily engaged in manufacturing medical equipment and supplies. Examples of products made by these establishments are laboratory apparatus and furniture, surgical and medical instruments, surgical appliances and supplies, dental equipment and supplies, orthodontic goods, dentures, and orthodontic appliances.
Industry trends:
The Medical Equipment and Supplies Manufacturing industry (NAICS 33911) is experiencing several notable qualitative trends. One significant trend is the increasing integration of advanced technology and digital solutions. There's a growing adoption of artificial intelligence, machine learning, and big data analytics to enhance the efficiency and precision of medical devices. The rise of telemedicine has also fueled demand for portable and user-friendly medical equipment that can be used in homecare settings.
Another important trend is the emphasis on sustainability and environmentally friendly manufacturing processes. Companies are seeking to reduce their carbon footprint and improve the recyclability of their products, which is driving innovation in materials and production methods. The industry is also seeing a shift toward personalized medical devices, tailored to individual patient needs, made possible through 3D printing and advancements in biomedical engineering.
In the near future, market forecasts suggest robust growth driven by the aging global population and the increasing prevalence of chronic diseases. Emerging markets are expected to play a significant role as healthcare infrastructure improves and demand for high-quality medical equipment rises. Additionally, regulatory changes and government initiatives aimed at improving healthcare access and affordability will likely provide tailwinds for the industry.
Moreover, the COVID-19 pandemic has accelerated innovation and adaptation within the industry, making companies more resilient and better prepared for future healthcare challenges. As these trends continue to evolve, the Medical Equipment and Supplies Manufacturing industry is poised for transformative growth and increased importance in the global healthcare landscape.
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.