Which U.S. State Is Best for Medical Device Companies?
Chris Newmarker and Brian Buntz
Updated February 22, 2016
We’ve all heard the stereotypes: California is a medtech innovation hotbed. Massachusetts has cutting edge research and Yankee ingenuity. And Minnesotans wake up earlier and work longer hours than everyone else as the state punches above its weight.
While Massachusetts is certainly an innovation hotbed, two states are above all the others when it comes down to the actual number of medtech workers and PMA applications granted. "When it comes down to numbers, California and Minnesota are where it’s at," says Cheryl Matter, PhD, vice president of intelligence and research at the Minnesota-based Medical Alley Association.
Of course, there are many other states with decently sized medical device industries, not to mention business-friendly climates and other advantages lacking in either California or Minnesota.
In the following gallery, Qmed editors rank which states they think are best for medtech companies based on data ranging from total employment, funding, patents granted, and business climate.
Read on to find out more. Want a deeper dive into the data? Download our full report on the state of top U.S. medtech states.
Methodology for choosing states in this feature: Medical device industry employment and patent numbers from the Minnesota Department of Employment and Economic Development's Compare Minnesota tool. Establishment numbers for the top four states from “Battelle/BIO State Bioscience Jobs, Investments and Innovation 2014”. NIH funding figures from the NIH’s website. Venture capital funding figures from the MoneyTree Report, compiled by Thomson Reuters for PricewaterhouseCoopers and the National Venture Capital Association.
Learn more about cutting-edge medical devices at BIOMEDevice Boston, April 13–14, 2016.