Medical Device Business Plan Template [Updated 2024]

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III. Industry Analysis


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The U.S. medical device industry is projected to grow a healthy 3.3% over the next five years, with an increasing demand as time continues. The industry is in a growth cycle, and exhibits high profitability. An aging population and rising community expectations will drive demand for medical devices over the coming years. With the rise of chronic conditions such as diabetes, heart disease, cancer, AIDS, and hepatitis, prescription sales increased an estimated six times faster than population growth, resulting in a dramatic increase in the average number of retail prescriptions per capita. This represents a significant opportunity for [company name].

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