Surgeons Tag in Robotic Assistants as the US Continues to Lead the Medical Device Market

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Welcome to this week’s edition of the Thomas Index Report.

The medical industry is investing in machines that improve consistency, reliability, and, perhaps most importantly, precision. This includes robots that help surgeons perform more complex procedures with greater flexibility and control. With a rising demand for healthcare services over the last few years, the medical component manufacturing market size is projected to grow at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028.

The US holds the world’s largest medical device market and is an industry leader across sectors like biotechnology, telecommunications, microelectronics, and software development. As people are now living longer than ever before, the US is advancing medical component manufacturing to meet the increased need from critical medical sectors that benefit aging populations. This includes orthopedics, surgical instruments and technologies, cardiovascular devices, diabetes devices, and dental instruments and technologies.

As such, companies, states, and researchers are tapping into the potential of precision machining to produce medical devices and instruments faster. For example, the machining company CNC Swiss uses CNC machining to design patient-specific parts with tolerances as small as 4μm. And recently, the Greater Memphis Chamber acquired two buildings in Memphis, Tennessee, to boost the state’s medical device manufacturing workforce. According to Jodie Gilmore, chairman of the Greater Memphis Medical Device Council, the state especially needs skilled CNC machining and manufacturing experts.

Robotic surgery is also altering the medical landscape by assisting doctors during procedures. Many robotic surgeries use the da Vinci™ surgical system, the first robotic surgery device to gain FDA clearance. This system allows surgeons to perform minimally invasive procedures including urology, gynecology, and general surgery, with unparalleled accuracy.

On the platform, we see sourcing for medical machining up a massive 1,278% year over year and 735% quarter over quarter. We are specifically seeing a surge in sourcing activity for the medical industry in California, New York, North Carolina, Pennsylvania, and Minnesota.

I’m Anna Wells, and this is the Thomas Index Report.

Top 10 Categories with the Most Sourcing Activity Month Over Month

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  • Pumps: Chemical: 9754.5%
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  • Seals: Hermetic: 5900.0%

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Image Credit: TIR

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