NAICS 334510 Quarterly Industry Report
Electromedical and Electrotherapeutic Apparatus Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 334510Sector: 33Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 334510 draws on verified data from the U.S. Census Bureau[6], Bureau of Labor Statistics[7], and the Small Business Administration[8]. Our research team tracks establishment counts, employment figures, regulatory context, and SBA eligibility requirements specific to electromedical device manufacturing. Reports are updated quarterly to incorporate new Census data and FDA regulatory developments.
Industry Snapshot
Key metrics for the electromedical and electrotherapeutic apparatus manufacturing industry.
Industry Definition & Overview
Electromedical and Electrotherapeutic Apparatus Manufacturing (NAICS 334510) encompasses establishments primarily engaged in manufacturing electromedical and electrotherapeutic devices used in patient diagnosis, monitoring, and treatment. Products include magnetic resonance imaging (MRI) equipment, medical ultrasound systems, cardiac pacemakers, hearing aids, electrocardiograph machines, defibrillators, and electromedical endoscopic instruments. The U.S. Census Bureau[5] classifies this industry within the Navigational, Measuring, Electromedical, and Control Instruments Manufacturing subsector. Additionally, census data reports 765 businesses operating at 912 establishment locations, employing approximately 86,000 workers with substantial payroll reflecting the high engineering content of production according to Census figures[6]. FDA regulatory oversight shapes every aspect of manufacturing, from design controls through production validation to post-market surveillance. Facilities must maintain ISO 13485 quality management systems and comply with 21 CFR Part 820 current good manufacturing practice requirements. This industry carries one of the highest revenue-per-employee ratios in electronic product manufacturing. R&D investment runs well above manufacturing sector averages, driven by FDA premarket approval requirements and competitive pressure from global medical device companies. Minnesota, California, Massachusetts, and Indiana host major production clusters anchored by large device companies and their extensive supplier networks spanning precision machining, specialty electronics, and biocompatible materials processing. Workforce requirements include biomedical engineers, regulatory affairs specialists, and quality system auditors alongside traditional production staff.
What's Included in This Industry
- Magnetic resonance imaging (MRI) equipment manufacturing
- Medical ultrasound system production
- Cardiac pacemaker and defibrillator manufacturing
- Hearing aid device production
- Electrocardiograph (ECG/EKG) machine manufacturing
- Patient monitoring system production
- Electromedical endoscopic equipment manufacturing
- Electrotherapeutic treatment device production
- Cochlear implant manufacturing
- Neurostimulation device production
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Computer and Electronic Product Manufacturing | 334 |
| Industry Group | Navigational, Measuring, Electromedical, and Control Instruments Manufacturing | 3345 |
| NAICS Industry | Navigational, Measuring, Electromedical, and Control Instruments Manufacturing | 33451 |
| National Industry | Electromedical and Electrotherapeutic Apparatus Manufacturing | 334510 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 334516 | Analytical Laboratory Instrument Manufacturing | Manufactures analytical laboratory instruments used alongside electromedical devices in clinical settings but classified separately from patient-contact apparatus |
| 334517 | Irradiation Apparatus Manufacturing | Produces irradiation apparatus including X-ray and CT equipment classified under a separate code from the electromedical devices covered here |
| 339112 | Surgical and Medical Instrument Manufacturing | Manufactures surgical and medical instruments that complement electromedical devices but involve mechanical rather than electronic diagnostic or treatment functions |
| 334511 | Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing | Produces search and navigation instruments sharing precision electronic manufacturing capabilities with electromedical device producers in this classification |
| 334413 | Semiconductor and Related Device Manufacturing | Manufactures semiconductor devices used as critical input components in pacemakers, hearing aids, and other miniaturized electromedical apparatus |
| 339113 | Surgical Appliance and Supplies Manufacturing | Produces surgical appliances and supplies that interface with electromedical devices but are classified as disposable or mechanical medical products separately |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 23.2% | 211 |
| 2 | Massachusetts | 7.6% | 69 |
| 3 | Florida | 5.4% | 49 |
| 4 | Minnesota | 5.3% | 48 |
| 5 | Ohio | 5.0% | 45 |
| 6 | Pennsylvania | 5.0% | 45 |
| 7 | New York | 4.8% | 44 |
| 8 | Texas | 4.8% | 44 |
| 9 | Wisconsin | 4.2% | 38 |
| 10 | Washington | 3.4% | 31 |
% Of Establishments
0%
23%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
40
Total SBA Loans
$18.4M
Total Loan Volume
$460K
Average Loan Size
10 yrs
Average Loan Term
9.55%
Average Interest Rate
184
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[8] sets the size standard for NAICS 334510 at 1,250 employees, among the highest thresholds in manufacturing. This reflects the capital-intensive, R&D-heavy nature of medical device production requiring FDA compliance infrastructure. Qualified small businesses access set-aside contracts for Veterans Affairs hospital equipment, Department of Defense medical systems, and other federal healthcare procurement. The SBA's lending programs[9] support the substantial facility and equipment investments needed for FDA-compliant manufacturing operations. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Regions Bank | 16 | $15.2M | $950K |
| 2 | Celtic Bank Corporation | 8 | $1.2M | $150K |
| 2 | Northeast Bank | 8 | $1.2M | $150K |
| 4 | SouthState Bank, National Association | 8 | $800K | $100K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 334510?
Manufacturers of electromedical diagnostic and treatment devices classify here. This includes producers of MRI systems, ultrasound machines, cardiac pacemakers, defibrillators, hearing aids, ECG machines, patient monitors, and electrotherapeutic treatment devices per the Census Bureau[5] classification system.
How is the electromedical apparatus manufacturing industry structured?
Census data[6] identifies 765 businesses operating at 912 locations with employment of roughly 86,000 workers. A small number of large multinational corporations dominate MRI and imaging equipment production, while hundreds of smaller firms manufacture specialized therapeutic devices, hearing aids, and patient monitoring systems.
What is the SBA size standard for electromedical apparatus manufacturing?
The SBA[8] sets the threshold at 1,250 employees for NAICS 334510. Businesses maintaining fewer than 1,250 average employees qualify as small for federal procurement preferences and SBA lending programs including 7(a) and 504 loans.
What NAICS codes are related to electromedical apparatus manufacturing?
Related codes include 334517 (Irradiation Apparatus Manufacturing), 339112 (Surgical and Medical Instruments), 334516 (Analytical Laboratory Instruments), 334511 (Search and Navigation Instruments), and 339113 (Surgical Appliances and Supplies). The boundary separates electronic patient-contact devices from mechanical instruments and irradiation equipment.
What industries interact with electromedical device manufacturers?
Irradiation equipment producers, surgical instrument makers, semiconductor manufacturers, and surgical supply companies maintain close business relationships with this industry. Hospital group purchasing organizations and medical device distributors connect electromedical manufacturers with clinical end users across acute care, ambulatory surgery, and physician office settings.
What activities are included in electromedical apparatus manufacturing?
Activities include designing and producing MRI systems, assembling ultrasound transducers and imaging platforms, manufacturing implantable cardiac rhythm devices, producing hearing aid devices, building patient monitoring hardware, and fabricating electrotherapeutic treatment systems. FDA design control documentation and manufacturing validation represent substantial supplemental activities required for regulatory compliance.
Can electromedical device manufacturers qualify for SBA loans?
Yes, firms below 1,250 employees qualify for SBA lending programs[9]. Clean room construction, specialized test equipment, and FDA validation costs represent capital-intensive investments particularly well suited to SBA 504 financing structures for growing medical device companies.
Where is electromedical apparatus manufacturing concentrated?
Minnesota hosts the largest cluster, anchored by major cardiac device manufacturers and their supplier ecosystems. California, Massachusetts, and Indiana also maintain large concentrations of electromedical production facilities. These clusters benefit from proximity to research hospitals, biomedical engineering programs, and specialized component suppliers.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Census figures data.census.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]Small Business Administration sba.gov
- [9]SBA's lending programs sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
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