There are 971 Medical Device Manufacturing businesses in the U.S. as of Q2 2022 with the industry growing at a rate of 2% per year on average over the 5 years between 2017 – 2022.
The Top 3 States with the highest # of Medical Device Businesses include:
- California (158)
- Massachusetts (64)
- Florida (48)
The Top 3 Made in the USA Healthcare companies include:
- Johnson & Johnson
The Medical Device Manufacturing industry in the U.S. is labor intensive which means businesses are more reliant on labor than capital. It is no surprise that the highest costs for business in The Medical Device Manufacturing industry in the U.S. as a percentage of revenue are Wages (22.4%) and Purchases (38%).
The Administration over the past few years has launched a government wide initiative to increase the use of federal procurement to support American Manufacturing. In the process, the government has been trying to strengthen domestic supply chains for critical goods and increase the threshold for products to qualify as American-made. Currently, 55% of a product’s component parts must be manufactured in the U.S. to qualify. The proposed change that has been in the works would currently raise that threshold to 60%, and then to 65% by 2024 and 75% by 2029.