U.S. Medical Device Manufacturers Market To Reach $360.1 Billion By 2030

U.S. Medical Device Manufacturers Market Growth & Trends

The U.S. medical device manufacturers market size is expected to reach USD 360.1 billion by 2030, registering a CAGR of 5.9% from 2025 to 2030, according to a new report by Grand View Research, Inc. The regional market is significantly driven by the high healthcare expenditure of the country. The increasing geriatric population coupled with the rising prevalence of chronic diseases is also expected to augment the market growth over the forecast period.

The COVID-19 pandemic triggered a drastic rise in demand for medical consumables and patient aids, such as gloves, syringes, masks, PPE kits, infrared thermometers, pulse oximeter, testing kits, etc. This resulted in an immense opportunity for the existing players as well as new entrants. However, the pandemic also resulted in a massive reduction in elective procedures, such as bariatric surgeries, joint replacement surgeries, cosmetic surgeries, etc., thus restricting the growth of medical devices used in the aforementioned procedures. The market recovery can be expected from mid-2021 onwards with favorable government initiatives to re-launch elective procedures.

Growing investments in medical device R&D along with the high adoption rate of advanced technology in the U.S., create the perfect business environment for medical device manufacturers in the country, providing them with lucrative opportunities to accelerate their business operations. Increasing adoption of minimally invasive surgeries in the country is also driving the market. In addition, rising cases of accidental injuries coupled with diseases caused due to sedentary lifestyle will propel the market growth over the forecast period.

The U.S. has favorable reimbursement policies such as the U.S. Medicare system. Boston Scientific Corp., in association with the Centers for Medicare and Medicaid Services (CMS), offers reimbursement for all devices that fall under Ambulatory Payment Classifications (APCs), covered under C-codes. These favorable reimbursement structures are expected to fuel market growth; however, the ever-evolving nature of regulations may lead to abrupt amends, which may significantly impact the market.

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U.S. Medical Device Manufacturers Market Report Highlights

•  The others segment led the market and accounted for 35.7% of the revenue in 2024. The segment primarily comprises devices used in IVD diagnostics, medical imaging, dental, ear-nose-and-throat (ENT), wound care, and general surgery.

• Cardiology devices are expected to register the fastest CAGR of 7.7% over the forecast period.

• Heart diseases are one of the leading causes of mortality in the U.S. According to a CDC article published in May 2023, the high mortality, with one death due to cardiovascular disease every 33 seconds, creates a substantial market demand for innovative medical devices that can contribute to the prevention, early diagnosis, & effective treatment of heart-related conditions.

U.S. Medical Device Manufacturers Market Segmentation

Grand View Research has segmented U.S. medical device manufacturers market report based on application:

U.S. Medical Device Manufacturers Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Orthopedic Devices

• Cardiovascular Devices

• Neurology Devices

• Drug Delivery Devices

• Ophthalmic Devices

• Nephrology & Urology Devices

• Others

List of Key Players in U.S. Medical Device Manufacturers Market

• Stryker

• Cardinal Health

• Eli Lily and Company

• Intuitive Surgical

• Edwards Lifesciences Corporation

• BD

• Danaher

• 3M

• Abbott

• Baxter

• B. Braun SE

• GE Healthcare

• Johnson & Johnson Services, Inc.

• Medtronic

• Boston Scientific Corporation