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The Biomedical Device Industry in America: Challenges at Home and Abroad
Date:7/17/2012

NEW YORK, July 17, 2012 /PRNewswire/ -- The American biomedical device industry—known for producing life-saving innovations and creating millions of jobs across the country—is facing unprecedented challenges that could prove catastrophic not only to the industry itself and to the livelihoods of its employees, but to the health of the patients who benefit everyday from its technologies. In a new analysis from global tax advisory firm WTP Advisors, Yair Holtzman, director and Global Life Sciences practice leader, details these challenges, but also prescribes solutions that could save an industry that is both central to modern health care, and a driver of current and future economic growth in the United States.

The study appears today in the current online edition of the biomedical industry journal MD+DI, and will appear in the August 2012 print issue.

Over the last 50 years, U.S.-based companies have dominated the roughly $350 billion global device industry, employing directly and indirectly more than two million people and playing a major part in driving U.S. economic growth. The industry even managed to grow and prosper during the recent economic downturn, one of the worst in history.

"For decades now, the United States has fostered an ideal environment for medical innovation, allowing it to become a world leader in the field, and resulting in significant advances in healthcare technology," said Holtzman. "But mounting threats to the industry from within the U.S., coupled with a flourishing medical technology industry abroad, are putting these advances at serious risk. If we don't do something now, we will see the U.S. market wither, along with our health and our economy."

Holtzman details the challenges the i
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SOURCE WTP Advisors
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