Medical Devices and Manufacturing

California Leads

California companies are leaders in medical science and innovation. These corporations are producing the world’s most innovative therapies and diagnostic tools. The extensive pipeline of innovation and discovery begins with the state’s academic and research institutions and continues with the entrepreneurial culture. This path then leads to the production of hundreds of new drugs, tools and devices.

The Facts:

270Thousand

Jobs


Between 2009 and 2013, employment in the California pharmaceutical and medical device industry has added more than 5,000 jobs. That was a 4 percent increase in just four years. These companies paid $27.4 million in total wages to employees in 2013 with the salaries averaging $101,000.
$101Billion

Dollars Earned


The biomedical industry in California is a key factor in sustaining growth throughout the state. In 2013, companies reported more than $100 million in revenue and paid nearly $11 million in local, state and federal taxes.
391

Small Business Grants


Scientists who make discoveries often start their own companies to carry their research forward. California leads the nation in National Institutes of Health (NIH) small business grants that equaled $146 million in 2014. These new companies will bring new therapies, devices and diagnostics to the market.

California's Medical Industry Takes New Ground

The biomedical sector of California drives improvements in healthcare through the development of new medicines and technologies. The industry is built on, and fueled by, world-class universities and ground-breaking biomedical research. In 2014, California companies filed 1,205 investigational new drug (IND) applications. Companies based in California have an impressive record of developing new treatments that improve survival and quality of life for millions of people around the world. These therapies have provided an increase in the therapies available for treating cancer, infectious diseases and many other illnesses.

California's Medical Industry Thrives

California’s biomedical industry has led the way in the manufacturing and innovation of medical devices and treatments. In 2013, companies led the industry in profits while also maintaining a higher rate of employment than any other state. It is estimated that medical innovations attracted $3.8 billion from venture capitalist investments from around the world in 2014. That year, these figures were second only to California’s software industry and resulted in 60.1 percent of all venture capital investments.

stethoscope shaping heart and clipboard on medical uniform, closeup

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