Technology News

Study Shows Major BioMed Impact In Seattle Region

Friday, May 16, 2008 5:01:00 AM PDT | VentureDeal Staff

SEATTLE, WA --  A study prepared by a consortium of enterpriseSeattle, universities and city leaders concluded that the biotechnology and medical device fields contribute $2.5 million in gross revenue and employs over 5,800 workers with projected wages of $488 million in the greater Seattle area.

Presented at the 2008 Washington State Biomedical Summit, the report goes on to say that spurred by an aging population, analysts are predicting that the U.S. medical device market value will reach almost $140 billion in revenue by 2013, 5 years from now.

Among the other key takeaways are the the region is home to more than 120 biomedical companies and that the employment opportunities have grown at 8.2% per year since 2000.

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