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Medical device industry growing in importance in Midwest

CHICAGO - Many of my past columns have focused on the drug side of the life sciences industry, which has annual sales of more than $500 billion per year. The drug industry's traditional leaders are heavily concentrated in the east coast (particularly in the corridor between Philadelphia and New York) with a secondary and smaller hub in the Midwest.


Full article >>> ear). Major segments of this industry include:
Cardiovascular devices: $40 billion
In vitro diagnostics: $20 billion
Orthopedic devices: $16.4 billion (with a $2.2 billion spinal devices segment)
Biomaterials: $8.8 billion
Minimally invasive surgery: $8 billion
Woundcare: $7.2 billion
Ophthalmology: less than $1 billion (but growing rapidly)

Though small......

Full article >>> rface of the nanotechnology and medical device industry, which is reducing the size of many devices and enhancing patient quality of life.
The expanded use of diagnostics to customize therapeutic regimens on a patient-by-patient level and prediction of disease onset at an earlier stage, which is allowing for earlier and more effective treatment.

The Midwest is well poised to capture ......

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'"/> By Michael Rosen 08/08/05

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