A healthy performance: Increasing domestic demand has supported revenue expansion

Demand for the industry’s products is driven by demand for medical and dental services, which is affected by factors such as the size and age of the population, life expectancy, lifestyle choices, increasing access to medical services in developing countries and expectations of medical and oral-care outcomes. Economic conditions and the state of government finances also affect the level of spending on medical services.Industry revenue is expected to increase at a compound annual rate of 3.6% over the five years through 2017-18. Increasing domestic demand is expected to have aided industry performance, supported by the ageing population, rising levels of obesity, technological advances and the fact that health-care services remain vital...read more.

Industry Statistics & Market Size
Revenue
£5.1bn
Annual Growth 13-18
3.6%
Forecast Growth 18-23
Profit
Employment
44,044
Businesses
1,971

Industry Threats & Opportunities

  • Increasing levels of obesity and an ageing population have supported industry demand
  • The fall in the value of the pound has supported export growth since 2016-17
  • Public-sector health-care spending is expected to rise as the population ages
  • Industry Report - Starting a New Business Chapter

    There are a number of barriers to entering the industry, including the importance of brand recognition, R&D costs and access to highly skilled staff. Overall, the barriers to entry are high and steady.A significant barrier to success is the dominance of existing firms and their brands. Brand names have a high degree of recognition in their respective markets. Medical distributors and hospitals generally opt to buy from well-established and reputable companies with trusted products and equipment. This gives established firms an advantage over new entrants to the industry.The competitive nature and high degree of specialisation requires significant investment in research and development. Ind...purchase to read more.

    Additional Insights for the Medical & Dental Instrument Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical & Dental Instrument Manufacturing Industry are

  • Access to the latest available and most efficient technology and techniques
  • Establishment of brand names
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as MSCI World Index and Total health expenditure in the Medical & Dental Instrument Manufacturing industry impact industry performance..

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    What's in this report

    What is the Medical & Dental Instrument Manufacturing Industry?

    Companies in the Medical and Dental Instrument Manufacturing industry make laboratory apparatus, surgical and medical instruments, surgical appliances and supplies, dental equipment and supplies, orthodontic goods, dentures and orthodontic appliances. The industry also includes firms that manufacture medical and dental furniture where the additional specific functions determine the purpose of the product, such as dentists’ chairs with built-in hydraulic functions.

    Industry Products
  • Artificial joints and parts
  • Syringes, needles and catheters
  • Furniture
  • Dental products
  • Artificial body parts (excluding teeth)
  • Products and parts related to eye care
  • Industry Activities
  • Manufacturing surgical drapes and sterile string and tissue
  • Manufacturing dental preparations, artificial teeth and bridges, dental instruments and dental lab furnaces
  • Manufacturing bone reconstruction cements
  • Manufacturing laboratory ultrasonic cleaning machinery
  • Manufacturing laboratory sterilisers
  • Manufacturing laboratory-type distilling apparatus and laboratory centrifuges
  • Manufacturing medical, surgical, dental or veterinary furniture
  • Manufacturing bone plates and screws, syringes, needles, catheters and cannulae
  • Manufacturing orthopaedic and prosthetic devices
  • Manufacturing ophthalmic goods, eyeglasses, sunglasses, prescription lenses and safety goggles
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • MSCI World Index
  • Total health expenditure
  • Level of obesity
  • Population
  • Population aged 65 years and over
  • Real effective exchange rate

  • Current Performance
  • Domestic demand expands
  • Weak export growth
  • Margins widen
  • Chart: Revenue Growth

  • Industry Outlook
  • Ageing population promotes growth
  • Medical advances
  • Spending trends
  • Import competition toughens
  • Profitability rises
  • Table: Medical & Dental Instrument Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical & Dental Instrument Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Hospitals
  • General Medical Practices
  • Specialist Medical Practices
  • Dental Practices
  • Diagnostic & Ambulance Services
  • Residential Nursing Care

  • Key Selling Industries
  • Chemical Product Manufacturing
  • Primary Form Plastics Manufacturing

  • Products & Services
  • Other
  • Products and parts related to eye care
  • Artificial joints and parts
  • Syringes, needles and catheters
  • Dental products
  • Furniture
  • Artificial body parts (excluding teeth)
  • Chart: Medical & Dental Instrument Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Wholesalers
  • National Health Service
  • Other health-care providers
  • Chart: Major Market Segmentation for the Medical & Dental Instrument Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationOther
  • Chart: Cost Structure Benchmarking – Sector vs Medical & Dental Instrument Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical & Dental Instrument Manufacturing Industry

  • Industry Globalization
    Smith & Nephew plc, Smiths Group plc,
  • Table: Smith & Nephew plc - financial performance
  • Table: Smiths Group plc - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical & Dental Instrument Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Medical & Dental Instrument Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Catheter
  • A thin tube made from medical grade materials serving a broad range of functions.
  • Coronary Stent
  • A tube-shaped device placed in the coronary arteries that supply blood to the heart, to keep the arteries open.
  • Orthopaedics
  • The medical specialty involving the diagnosis and treatment of disorders of the bones and the tissues that connect them.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Medical & Dental Instrument Manufacturing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical & Dental Instrument Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical & Dental Instrument Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical & Dental Instrument Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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