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2024 U.S. Industry Statistics & Market Forecast - Surgical Appliance and Supplies Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Surgical Appliance and Supplies Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Surgical Appliance & Supplies Manufacturing industry is being influenced by multiple key trends. The industry is being spurred by the rapidly growing aging population and the expanding global economy. There is a growing need for surgical appliances and supplies as the population ages, and new diseases and conditions become more prevalent. Healthcare providers are also demanding more innovative surgical technologies that can increase the speed, accuracy, and safety of medical procedures.Another trend driving the industry is the increasing demand for minimally invasive surgical procedures, which require less downtime and have lower risks than traditional surgery. Advances in surgical equipment and technology are making it easier for doctors and patients to choose these methods over more traditional methods.
The impact of technology on the industry is significant, with the rise of telemedicine, robotics, and artificial intelligence is transforming the industry. Healthcare providers are enhancing their capabilities by using telemedicine tools to interact with patients remotely, providing greater access to care, reducing costs, and improving patient outcomes.
The industry is actively responding to these trends by investing in research and development to create new technologies and materials that respond to the challenges of an aging population, increased demand for minimally invasive procedures, and advances in telemedicine. By adopting these trends, the industry is poised to continue its growth in the years ahead.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Surgical Appliance and Supplies Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Surgical Appliance and Supplies Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Surgical Appliance and Supplies Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 8% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Architecture and Engineering Occupations | 9% | |||
| Engineers | 7% | |||
| Office and Administrative Support Occupations | 10% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 13% | |||
| Miscellaneous Assemblers and Fabricators | 12% | |||
| Metal Workers and Plastic Workers | 8% | |||
| Other Production Occupations | 24% | |||
| Dental and Ophthalmic Laboratory Technicians and Medical Appliance Technicians | 13% | |||
| Dental Laboratory Technicians | 9% | |||
Surgical Appliance and Supplies Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Surgical Appliance and Supplies Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Surgical Appliance and Supplies Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Surgical Appliance and Supplies Manufacturing industry. |
Source:
Innovation News
- Mar 28, 2024: Nexus Spine patents Methods For Developing Porous Implants Of Optimal Properties
- Feb 29, 2024: Nexus Spine patents Systems And Methods For Measuring And Applying A Spinal Compression Force
- Feb 29, 2024: Nexus Spine patents Systems And Methods For Measuring And Applying A Spinal Compression Force
- Jan 24, 2024: in Motion Design trademarks "N" - Coffee; Coffee and coffee substitutes; Coffee drinks; Coffee extracts; Brewed coffee; Prepared coffee and coffee-based beverages
- Jan 24, 2024: in Motion Design trademarks "NIBREW" - Coffee; Coffee and coffee substitutes; Coffee drinks; Coffee extracts; Brewed coffee; Prepared coffee and coffee-based beverages
- Jan 04, 2024: Ortho Systems trademarks "MONARCH MEDICAL" - Braces, supports and footwear for orthopedic purposes; podiatric supplies
- Sep 07, 2023: Catalyst Orthoscience raises $15 million in funding.
- Nov 29, 2022: Unlimited Tomorrow raises $2 million in funding.
- Dec 16, 2020: Zeda raises $17 million in funding.
Recent Federal Contracts for Surgical Appliance and Supplies Manufacturing- Apr 02, 2024: EDWARDS LIFESCIENCES LLC (Irvine, CA) awarded $12,000
- Apr 02, 2024: VETERANS HEALTH EQUIPMENT LLC (Silver Creek, NY) awarded $12,600
- Apr 02, 2024: BRUNO INDEPENDENT LIVING AIDS, INC. (Oconomowoc, WI) awarded $13,353
- Apr 02, 2024: ARACENT HEALTHCARE, LLC (Wilmington, DE) awarded $13,121
- Apr 02, 2024: RED ONE MEDICAL DEVICES LLC (Savannah, GA) awarded $13,500
- Apr 02, 2024: ADVANCE PROSTHETICS AND ORTHOTICS, INC. (Jacksonville, FL) awarded $23,160
- Apr 02, 2024: EDWARDS LIFESCIENCES LLC (Irvine, CA) awarded $12,000
- Apr 02, 2024: VETERANS HEALTH EQUIPMENT LLC (Silver Creek, NY) awarded $12,600
- Apr 02, 2024: BRUNO INDEPENDENT LIVING AIDS, INC. (Oconomowoc, WI) awarded $13,353
- Apr 02, 2024: ARACENT HEALTHCARE, LLC (Wilmington, DE) awarded $13,121
- Apr 02, 2024: RED ONE MEDICAL DEVICES LLC (Savannah, GA) awarded $13,500
- Apr 02, 2024: ADVANCE PROSTHETICS AND ORTHOTICS, INC. (Jacksonville, FL) awarded $23,160
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