The state of U.S. med-tech: An industry snapshot (MassDevice)
The medical device sector was on the rebound in 2010 after a less-than-stellar 2009 performance, according to the latest report from industry lobby AdvaMed.
Revenues for publicly traded companies grew to $205 billion in 2010, a 4 percent increase from the $197 billion reported in 2009, which was a 0.1 percent slide from the prior year.
Net income spiked a whopping 57 percent to $12.4 billion, compared to 2009's $7.9 billion, largely thanks to relief from merger and impairment charges incurred in 2009, according to the report.
The total number of firms came in at around 7,000; 62 percent of them have fewer than 20 employees. Only 2 percent employ more than 500 people.
The average salary for a U.S. med-tech worker was a reported at $58,000, adding up to about $24.6 billion in payroll.
As an industry, medical device firms spent $9.8 billion on research and development, an 8 percent increase from 2009's $9.1 billion.
The nation's hubs reported their own gains, as well as some losses in 2010. Here are the figures for the top five med-tech hubs in the U.S.:
Massachusetts:
Home to 38 companies (-3 percent sinc...
