While the medical technology industry likes to highlight the benefits it provides to patients, it also wants people to appreciate it as an engine of high-paying jobs and economic growth. In October, the trade group AdvaMed released a report from The Lewin Group that showed that in 2006, the industry employed 357,700 workers with a combined payroll of $21.5 billion and shipped a total of $123 billion worth of products. The nation’s largest states have the highest employment in the medical technology sectors with California lead the pact with 72,500 workers. It was followed by Massachusetts (21,847), Florida (19,949), Minnesota (18,571), New Jersey (17,953) and Pennsylvania (17,482). Some small states, though, have notable concentrations of medical technology jobs. Utah and Delaware employ the largest number of people in the industry relative to total employment – almost three times the national average.

 

ECONOMIC IMPACT OF THE MEDICAL TECHNOLOGY INDUSTRY