About AdvaMed

The Advanced Medical Technology Association, AdvaMed, is the largest medical technology association in the world. We represent more than 1,200 innovators and manufacturers of medical devices, diagnostic products and medical information systems. Our members manufacture 90 percent of the $75 billion of health care technology purchased annually in the United States and more than 50 percent of the $175 billion purchased around the world annually. AdvaMed members range from the largest to the smallest medical technology innovators and companies. Nearly 70 percent of our members have fewer than $30 million in sales annually.

Our Mission:

To be the advocate for a legal, regulatory and economic climate that advances global health care by assuring worldwide patient access to the benefits of medical technology. In both the United States and abroad, AdvaMed promotes policies that ensure rapid product approvals and appropriate reimbursement, and access to international markets.

Our Members:

Medical technology is yielding exciting breakthroughs and enabling us to win the fight against many of the most deadly and debilitating diseases, and AdvaMed members are leading the charge. Their advances detect diseases earlier and offer new, more effective treatment options for diseases like cancer and heart failure. Medical technology alleviates the economic burden of disease and illness by reducing patient disability, procedure times, costly complications, and hospital stays -- allowing patients to return home faster and lead more productive and independent lives.

Key Industry Facts:

• The lifecycle for many advanced medical technologies is 18 months.
• Investment in research and development more than doubled during the 1990s and now stands at nearly 12% of sales, more than four times the average for manufacturers overall.
• Medical technology jobs pay 49% more per worker than the average manufacturing job
• More than 90% of medical technology companies have fewer than 100 employees; smaller firms generate 28% of industry R&D spending.
• U.S. medical technology companies lead the world, producing nearly $78 billion annually and generating nearly 6% annual growth.
• Medical technology generates a consistent trade surplus: $62 billion over the last 10 years, more than $3.3 billion in 2002 alone.
• While overall venture capital investment in the United States is down 15 percent, it is up four percent in the life sciences sector, which includes biotechnology and medical technology, attracting $4.89 billion in 2003.

-September 30, 2004