Survey: Medical device makers cautiously optimistic

March 23, 2010 by MassDevice staff

A survey of medical device manufacturers in the Bay State indicates cautious optimism about the economy, with a majority expecting improved business conditions this year.

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A survey of 47 medical device manufacturers, ranging from pre-revenue firms to those with sales topping $100 million, indicates a sense of cautious optimism when it comes to the economy.

The survey, conducted by executive services provider Tatum LLC for the Massachusetts Medical Device Industry Council (MassMEDIC), polled device makers during the fourth quarter on a variety of business indicators. Most — more than 58 percent — said they expected conditions to improve during the last 60 days of the quarter. Nearly 35 percent reported improvement during the 30 days preceding the survey.

MassMEDIC president Tom Sommer said the survey, the group's second quarterly poll, delivered similar results for the fourth quarter as the third.

"For the second consecutive quarter, medical device manufacturers remain optimistic about prospects for sales and employment growth in the coming year. Despite the passage of a new and burdensome federal excise tax on medical devices, companies are continuing to design innovative medical products and meet the unmet needs of the healthcare delivery system worldwide," Sommer said in prepared remarks.

Other results of the survey included: