Medical technology innovators are committed to providing physicians the best tools to diagnose and treat patients. This commitment drives over 7,000 companies in the U.S. to create medical miracles everyday – leading to an 80% increase in patents for breakthrough medical technologies in the last decade.
These companies, most with fewer than 100 employees, are in the highly competitive business of creating constant progress through constant innovation.
- Medical technology provides advanced jobs that pay 40% more per worker than the average manufacturing job.
- From 1980 to 2000, rapid technological progress created results: a 16% decline in annual mortality, a 25% decline in disability rates, a 56% reduction in hospital days—and a 3.2 year increase in life expectancy.
- With all these lifesaving and life enhancing gains, spending on medical technology remains only 6% of total health care expenditures.