Advamed has released a study showing the contribution of the medical technology industry to the US economy. Overall life sciences supports over 400,000 jobs & $25B in annual payroll in the US.
While not immune to the recent global economic downturn, the impact on the medical device industry has been significantly less than on U.S. manufacturing on the whole. California, Minnesota & Massachusetts led the way in new job creation for the industry. And, between 2005 and 2008, the number of workers employed by industry increased 12.5 percent. In addition, salaries in the medical technology industry are 40% above the national average.
A copy of the full report can be found here.
