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Medical Technology in the US

Medical technology (medical devices) consists mainly of instruments, articles, apparatus and machines to be used in medical treatment. Medical devices are used particularly in the prevention, diagnosis and treatment of illness and disease as well as for identifying, assessing, restoring, rectifying or altering a structure or function of the body for reasons of health and well-being.

The medical device market in the United States (US) is quantified at almost $156 billion and, according to 2017 research, constitutes nearly 40% of the global medical device market. Continuing the upward trajectory, a growth of almost $203 billion is expected by 2023. According to the US Department of Commerce, the export market in the US for medical devices exceeded $43 billion in 2018.

Due to the success of this market, the US employs almost 2 million people, both directly and indirectly, across the sector. Interestingly, though more than 80% of medical companies in the US consist of less than 50 employees (which include start-ups with almost no revenue), they are highly-regarded globally because of their advances and innovations in the sector.

Revenues derived in the US medical industry are most often positively utilised for continuing research and development, product innovation and commitment to the progression and improvement of existing technologies.

In this market in the US, there is collaboration with other industries such as microelectronics, telecommunications, instrumentation, biotechnology and software development, leading to much needed advancements in technology like neuro-stimulators, stent technologies, biomarkers, robotic assistance and implantable electronic devices.

To date, the success of the medical device industry in the US can be measured by the growth in life expectancy of the global population.  For this reason, it is imperative that research and development continues in the medical technology sector, both in the US and world-wide. It has a direct positive correlation with improving lives.

At Burke & Associates Lawyers, we, together with our partners, are qualified to assist in legal advice and services relevant to the medical technology industry, both in Australia and the U.S.  For more information, please contact Meghan Warren, Principal, Rosy Roberts and Amelia Nagel, Associates, on mwarren@burkelawyers.com.aurroberts@burkelawyers.com.au and anagel@burkelawyers.com.au respectively, or by contacting our office on +61 3 9822 8588.

Contacts

Meghan Warren

Principal

Meghan Warren

Principal
LL.B GAICD
Meghan is one of the few lawyers in Australia admitted in the State (Victoria) and Federal jurisdictions of Australia, and as an Attorney at Law to the New York State Bar in the United States.

Rosy Roberts

Principal

Rosy Roberts

Principal
LL.B (Hons) B.A GAICD
Rosy has extensive experience in Litigation & Alternative Dispute Resolution having represented clients in all Victorian State Courts, the Family Court of Australia and the High Court of Australia. She is also a VCAT appointed...

George Hanger

Associate

George Hanger

Associate
LL.B BA
George was admitted to legal practice in May 2015 after completing a Bachelor of Arts at the University of Melbourne and a Bachelor of Laws at Monash University.

Antonela Graso

Paralegal

Antonela Graso

Paralegal
Whilst completing her professional business and law tertiary qualifications, Antonela provides efficient and effective legal support services to our valued teams and clients.