- Safety & Quality
- Our Stories
- Jobs by State
- MedTech Facts
- About Us
Michigan: A Beacon For Medical Technology Innovation
Medical technology in Michigan is thriving, due in large part to the advocacy work of MichBio. Michigan is home to global brands such as Stryker and Terumo, along with hundreds of other small to mid-size medical device and equipment companies. In 2012, the medtech industry in Michigan directly employed more than 11,000 people, with a total employment impact of 40,000 jobs across the state. The sector generated over $10 billion in output and $2.5 billion in personal income that year – and it has grown since.
Medical technology is the largest sector in Michigan’s biosciences industry. Between 2007 and 2012, Michigan’s medtech space saw tremendous organic growth. The number of companies in the industry increased by more than 18 percent – 50 percent more than the national average. Employment rose by a staggering 16 percent, dramatically outpacing national sector employment growth of 1.4 percent. The number of medical technology startups, academic and clinical research centers calling Michigan home is increasing in strides. These research centers serve as incubators for new medtech innovations that are then transferred to the commercial sector.
“Medtech has a very bright future in Michigan,” says MichBio CEO Stephen Rapundalo, given recent growth trends, an ever-expanding portfolio of new discoveries, and the transfer of innovation to commercial markets. “Michigan’s medtech sector has a rich legacy of discovery and impact,” says Rapundalo.
Medical technology in Michigan does have specific hurdles to overcome. One opportunity is for Michigan to do a better job of telling the medtech story – the state is home to a robust network of advanced manufacturing suppliers with capabilities including engineering and precision machining to serve the commercial sector in medtech production. In addition, Michigan state government should enhance policies that help develop and retain skilled talent, provide incentives to offset the high cost of medtech R&D and clinical development, and ensure greater access to capital investment across the business lifecycle.
Future advancements being developed in Michigan span the spectrum of technologies and therapeutic areas – everything from 3D printing for medical device clinical application to novel imaging solutions, orthopedic and spinal devices, and new molecular diagnostic and genomic testing technologies. With the advocacy and shared vision of MichBio, sustained growth in resources, innovation, and jobs remains strong.
Through continued advancement in technology leading innovation – and the support for the industry by MichBio and AdvaMed– Michigan will continue to be a leader in the industry.