State of the Industry
New York Bio/Med Welcomes You!
MedTech Association is pleased to present its inaugural issue of Bio/Med Breakthroughs, the only industry report providing comprehensive, data-driven insights on the trends and market opportunities in New York State’s bioscience and medical technology (Bio/Med) industry.
Having entered a new age of economic development – the “innovation economy” – it is the confluence of knowledge, entrepreneurship, innovation, technology and collaboration that fuel economic growth. Bio/Med has been a top performing industry for the U.S. economy for decades. Leveraging breakthrough innovation and technology, the Bio/Med industry plays a vital role in driving New York State’s innovation economy, lifting the state’s economic output by creating high-skilled jobs with average wages 74% greater than that of the private sector.
Even more impressive within this context is Upstate New York’s economic contributions; the region’s more than 28,000 jobs make it large enough that if the region were a state, it would have the 18th largest bioscience industry in the U.S. Furthermore, measured against performance metrics including employment, academic R&D, National Institutes of Health funding and issued patents, New York is among the top 10 states in the size of its bioscience industry and the scale and reach of its bioscience research.
Beyond economic impact, the Bio/Med industry operates at a global scale enhancing and protecting human health. Now in our 10th year of operation, MedTech’s purpose is to bolster the energy and innovation that New York’s Bio/Med firms bring to the world every single day. It is our job to help those firms evolve and mature so their breakthroughs can continue improving the health of all. Bio/Med Breakthroughs supports MedTech’s larger statewide vision to form a nationally recognized hotbed of Bio/Med activity. Already, New York State sits on the cusp of developing a robust ecosystem on par with some of the country’s hottest Bio/Med locales.
MedTech’s industry report provides a comprehensive snapshot of the industry’s economic impact and growth potential in New York with a primary focus on Upstate New York. It includes a regional assessment of the industry’s workforce and talent base with illuminating input from industry leaders through an executive survey and in-depth profiles. It also highlights what I see from our members every day across the state – cutting-edge, lifesaving technology.
On the front lines of industry support and development, connect with MedTech to help you grow your business and gain access to the state’s leading Bio/Med companies, academic partners and business services. Learn more and discover what we already know – Bio/Med is big business in New York!