Employment in the US Medical and Dental Instruments and Supplies industry has demonstrated positive growth overall, touching 320,000 Full-Time Equivalent units in 2023. Despite a few dips in employment, such as in 2016 and 2020, the sector has managed a consistent upward trend. The last two years have seen moderate year-on-year increases of 0.63% and 0.31%, respectively, with a 5-year Compound Annual Growth Rate (CAGR) of 0.7%. The forecasted data suggests a steady growth trajectory to 328,000 units by 2028, averaging a 5-year forecasted CAGR of 0.37% and a 5-year growth rate of 1.86%.
Future trends to watch for include:
- Technological advancements driving demand for specialized instruments
- Increasing healthcare needs of the aging population
- Potential industry consolidation impacting employment dynamics