Medical Technology Industry Quick Facts

423,000 jobs, $24.6 billion in annual payroll, $136 billion worth of products sold.

Just the facts on the medical technology industry.

These three facts alone make a compelling case for medical technology focus as part of your precision machining business plan- but wait- there is more.

12.5% increase in number of workers in this industry 2005-2008;

11.4%- increase in payroll;

11.6% – increase in value of products sold.

Medical Technology Industry Salaries: 40% above National Average.

These are just a small sampling of the facts in the latest report from AdvaMed prepared by The Lewin Group.

Top ten states for Medical Technology Industry Employment: California, Minnesota, Massachusetts, Pennsylvania, Florida, new Jersey, Indiana, New York, Texas, and Wisconsin.

You can get the full report on the Medical Technology Industry HERE.

Nothing like the facts…

Joe Friday photo credit.

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4 Responses to Medical Technology Industry Quick Facts

  1. Lloyd Graff says:

    The obesity epidemic in this country will make the orthopedic implant business grow even more rapidly. Each extra pound messes wirh rhe knees hips and spine. Buy Pepsi Cola, Coca Cola and Medtronic and Smith and Nephew to play it both ways.

    • speakingofprecision says:

      I enjoy my Pepsi Lloyd, but now you make it sound like its economic patriotism to consume soda, get obese, and need Orthopedic implants made here by our skilled craftsmen. Hey where’s that Big Gulp Cup I just had here?

  2. Jeff Remaley says:

    Hello Miles, and Readers,

    Speaking specifically to the orthopaedic industry and the future here is an article from Spring 2009:Orthopaedics – An Industry for All of Time https://www.orthoworld.com/site/orthosupplier/bonezone/online/2009/spring/editorial_engelhardt-s.pdf

    • speakingofprecision says:

      Thanks jeff, I’ll actually make a blog post to this if you don’t mind.
      Comment approved.
      Miles

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