Below you will find basic demographic and healthcare market data on the United States, plus specific information about the medical device and healthcare industries.
Overview of medical device industry: The United States is the world's largest medical device market and it shows no signs of slowing. The US medical device industry was valued at US$147.7 billion in 2016 and is projected to grow significantly through 2019, when it should increase to US$173 billion.
The US dollar is very strong and just one of the reasons why the medical device market is on the rise. However, the strong dollar creates challenges for American device manufacturers exporting to markets with weaker currencies.
Opportunities in the US market: The United States has a very large aging population and a long track record of chronic disease. In addition, the Patient Protection and Affordable Care Act of 2010 increased access to healthcare services for sections of the population that were previously uninsured. In response, there is a need for cost-effective medical devices to meet the increasing demand for care, the cost constraints of the new healthcare system, and control the rising healthcare spending.
Industry challenges in the United States: The domestic device manufacturing industry is very robust and hosts some of the largest med-tech corporations in the world. Foreign manufacturers can expect hefty competition from American manufacturers, as well as Canadian, Chinese, and European manufacturers. However, the US Food and Drug Administration (FDA) has a complex regulatory and device classification system that may prove insurmountable for some manufacturers.
How the United States compares to other markets
|Primary language(s)||English||Chinese, Mandarin||Japanese|
|Total healthcare spending||$3 trillion||$574 billion||$469 billion|
|Healthcare expenditures total (% of GDP)||17.1%||5.5%||10.2%|
|Healthcare expenditures per capita||$9403 (USD)||$420 (USD)||$3703 (USD)|
|Expenditures on healthcare||Government: 48%
|Size of medical device market (USD)||$147.7 billion (USD)||$8.7 billion (USD)||$26 billion (USD)|
|Number of hospital beds||2.9 per 1000 people||3.8 per 1000 people||13.7 per 1000 people|
|Age distribution||0-14 years: 19%
15-64 years: 66%
65 years and over: 15% (2015 est.)
|0-14 years: 17%
15-64 years: 73%
65 years and over: 10% (2015 est.)
|0-14 years: 13%
15-64 years: 60%
65 years and over: 27% (2015 est.)
|Life expectancy at birth||Male: 77 years
Female: 82 years
|Male: 73 years
Female: 78 years
|Male: 81 years
Female: 88 years
|Currency||US dollar ($)||Renminbi yuan (￥)||Yen|
Want to see how the United States compares to many other countries in Europe and around the world? Download our free PDF Healthcare spending by country.