Sign up for the QMED & MD+DI Daily newsletter.
New Study Places Massachusetts Among Top Five Medical Device States
Originally Published MDDI May 2002NEWS & ANALYSIS John Bethune
May 1, 2002
3 Min Read
.svg?width=850&auto=webp&quality=95&format=jpg&disable=upscale "New Study Places Massachusetts Among Top Five Medical Device States")
Originally Published MDDI May 2002
NEWS & ANALYSIS
Though not often mentioned in the same breath as medical device powerhouses California and Minnesota, Massachusetts consistently ranks among the top five states by a number of measures, according to a new study. The results were presented at the annual meeting of the sponsoring organization, the Massachusetts Medical Device Industry Council (MassMEDIC), on April 29, 2002.
According to the study's authors, the Massachusetts Technology Collaborative, the data suggest not only that the medical device industry in the state is robust, but that it may provide a substantial boost to the region's economic recovery.
The state's medical device industry attracted $196 million in venture capital in 2001, an increase of 36% from 2000. More than 10% of the state's patent applications between 1996 and 2000 were related to medical devices, and nearly one in nine publicly traded fast-growth companies in Massachusetts in 2000 was a medical device company. The state was virtually tied with California in value added per production worker, reflecting a predominance of manufacturers of precision, high-value medical devices, and highly productive employees.
Rankings of States by Medical Device Production Data
Rank | Value of Shipments | Employment |
|---|---|---|
1 | CA | CA |
2 | IL | IL |
3 | MA | NY |
4 | MN | MN |
5 | FL | MA |
The study builds on a report released in 2001, "The Medical Device Industry in Massachusetts." Written by Alan Clayton-Matthews at the University of Massachusetts Donahue Institute, that study identified Massachusetts, along with California, Illinois, and Minnesota, as national leaders in the industry. The new data show that within this group, Massachusetts was second only to California in total venture-capital funds going to medical device companies, and led the way on a per capita basis. Massachusetts was second only to Minnesota in patents per capita in the industry.
The 2001 study is available on the association's Web site, http://www.massmedic.com. It includes substantial information about the national medical device industry, as well as that in Massachusetts. At press time, the new data were scheduled to be posted on http://www.massmedic.com by mid-May.
Copyright ©2002 Medical Device & Diagnostic Industry
You May Also Like
