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Medical devices in Massachusetts – 2019 study reveals some disappointing trends

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Focus stethoscope doctor table on laptop.With over 400 medical device companies calling Massachusetts home, the scale is impressive and while life sciences continues to play a vital role in the state’s economy contributing significantly to the region’s growth and prosperity, certain Massachusetts medical device key performance indicators (KPIs) are falling. Get a glimpse of the numbers based on our research report.

We are proud to partner with MassMEDIC for their 2019 member survey.

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According to the MassMEDIC study, overall Massachusetts fares well however, many indicators are revealing disappointing trends, such as reductions in patent approvals.

Key takeaways:

  • Massachusetts leads all other states in medical products exports as a percentage of total exports
  • Massachusetts is a strong source of talent for future growth, jumping up in rank from third to second for jobs in the medical device industry this year.
  • Key indicators for innovation are declining.
  • MassMEDIC and Grant Thornton are facilitating a working group to explore root causes and identify opportunities to stimulate industry growth.