Medical & Dental Instrument Manufacturing in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: August 2024
SIC C32.500Revenue
£7.4bn
Past 5-Year Growth
Profit
£XXX.Xm
Employees
45,057
Businesses
2,012
Wages
£X.Xbn
Medical & Dental Instrument Manufacturing in the UK industry analysis
Medical and dental instrument manufacturers supply the UK healthcare sector, so revenue prospects depend on healthcare expenditure and the need for medical and dental services. International trade greatly influences sales, with increased access to healthcare services in developing countries supporting export revenue. A handful of manufacturers have undertaken global mergers and acquisitions to expand their presence in emerging markets, benefit from economies of scale and expand productivity. Over the five years through 2024-25, revenue is expected to accelerate at a compound annual rate of 3.2% to £7.4 billion.
Trends and Insights
- Tight healthcare spending spells trouble for medical equipment sales. According to the King's Fund, between 2022-23 and 2024-25, health and social care spending is set to climb by 0.1% annually in real terms, reducing expenditures on no-critical medical supplies.
- 3D printing becomes crucial for creating patient-specific instruments. Large companies have major R&D facilities in the UK and are well-positioned to keep up with the fast-paced medical sector.
- The South East holds many hospitals and medical facilities. Coupled with its proximity to London and cheaper rental costs, it’s easy to see why manufacturers are drawn to the region.
- Buyers demand high-quality products. Hospitals and medical practices require high-quality, durable and reliable medical instruments because of the drastic repercussions poor product quality can have on patients.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.2 % over the past five years, to reach an estimated £7.4bn in 2024.
Trends and Insights
COVID-19 boosts healthcare spending, opening up opportunities for some manufacturers
- According to the King's Fund, the government committed £47.1 billion in healthcare funding in response to the COVID-19 outbreak in 2020-21 and an additional £33.8 billion to recover from the pandemic in 2021-22.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
R&D investment helps drive future growth
- R&D investment is crucial in creating innovative products, representing approximately 5% of the average manufacturer’s revenue base. Manufacturers that demonstrate their products improve treatment outcomes or offer a longer lifespan will gain an advantage over domestic and overseas rivals.
Biggest companies in the Medical & Dental Instrument Manufacturing in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Smith & Nephew plc | 268.3 | |
Ortho-Clinical Diagnostics | 264.7 | |
Smith Medical International Ltd | 252.8 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Medical & Dental Instrument Manufacturing in the UK
Products & Services
Industry revenue is measured across several distinct product and services lines, including Artificial joints and body parts, Medical instruments and Furniture. Artificial joints and body parts is the largest segment of the Medical & Dental Instrument Manufacturing in the UK.
Trends and Insights
The vaccination effort benefitted sales of medical instruments
- Medical instruments include needles, syringes, catheters, transfusion apparatuses and other minor medical devices used in medical, surgical and veterinary science.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Electromedical & Imaging Equipment Manufacturing in the UK
Complementors
- Basic Pharmaceutical Product Manufacturing in the UK
- Pharmaceutical Preparations Manufacturing in the UK
International industries
- Medical Instrument & Supply Manufacturing in the US
- Syringes & Injection Needle Manufacturing in the US
- Surgical Instrument Manufacturing in the US
- Ophthalmic Instrument Manufacturing in the US
- Medical Instrument & Supply Manufacturing in Canada
Table of Contents
About this industry
Industry definition
Companies in the Medical and Dental Instrument Manufacturing industry make laboratory apparatus, surgical and medical instruments, surgical appliances and supplies, dental equipment and supplies, orthodontic goods, dentures and orthodontic appliances. The industry also manufactures medical and dental furniture, including dentists’ chairs with built-in hydraulic functions.
What's included in this industry?
Medical instrumentsProducts and parts related to eye careDental productsArtificial joints and body partsFurnitureDental drill enginesSurgical sterilisersClinical or veterinary thermometersSpeech aidsCompanies
Smith & Nephew plc Ortho-Clinical DiagnosticsSmith Medical International LtdPurchase this report to view all 6 major companies in this industry.
Related Terms
ORTHOPAEDICSOPHTHALMIC INSTRUMENTSCATHETERIndustry Code
SIC 32.50 - Medical & Dental Instrument Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Tight healthcare spending spells trouble for medical equipment sales. According to the King's Fund, between 2022-23 and 2024-25, health and social care spending is set to cli...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
3D printing becomes crucial for creating patient-specific instruments. Large companies have major R&D facilities in the UK and are well-positioned to keep up with the fast-pa...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The South East holds many hospitals and medical facilities. Coupled with its proximity to London and cheaper rental costs, it’s easy to see why manufacturers are drawn to the...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Buyers demand high-quality products. Hospitals and medical practices require high-quality, durable and reliable medical instruments because of the drastic repercussions poor ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are no companies with a market share of 5% or more. Intense import penetration, thanks to the cost advantages of foreign medical instrument manufacturers, means UK manu...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Smith & Nephew plc 's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Ortho-Clinical Diagnostics's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Smith Medical International Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Smith & Nephew plc , and factors influencing its performance in the industry
- Description and key data for Ortho-Clinical Diagnostics, and factors influencing its performance in the industry
- Description and key data for Smith Medical International Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The UKCA doesn’t quite cut it in the EU. Products sold to EU countries still have to carry a CE mark.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers trim wage costs by investing in automation. Investment in automated machinery has boosted cost efficiency and protected profit from rising raw material prices.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom in 2024?
The market size of the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom is £7.4bn in 2024.
How many businesses are there in the Medical & Dental Instrument Manufacturing in the UK industry in 2024?
There are 2,012 businesses in the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom, which has grown at a CAGR of 0.6 % between 2019 and 2024.
Has the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom has been growing at a CAGR of 3.2 % between 2019 and 2024.
What is the forecast growth of the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Medical & Dental Instrument Manufacturing in the UK market in United Kingdom?
The biggest companies operating in the Medical & Dental Instrument Manufacturing market in United Kingdom are Smith & Nephew plc , Ortho-Clinical Diagnostics and Smith Medical International Ltd
What does the Medical & Dental Instrument Manufacturing in the UK in United Kingdom include?
Medical instruments and Products and parts related to eye care are part of the Medical & Dental Instrument Manufacturing in the UK industry.
Which companies have the highest market share in the Medical & Dental Instrument Manufacturing in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Smith & Nephew plc .
How competitive is the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom?
The level of competition is high and steady in the Medical & Dental Instrument Manufacturing in the UK industry in United Kingdom.
