Advanced Medical Technology Association (AdvaMed)
AdvaMed advocates globally for the highest ethical standards and patient access to safe, effective and innovative medical technologies that save and improve lives. The Advanced Medical Technology Association (AdvaMed), is a trade association that leads the effort to advance medical technology in order to achieve healthier lives and healthier economies around the world. AdvaMed’s membership has reached over 400 members and more than 80 employees with a global presence in countries including Europe, India, China, Brazil, and Japan. AdvaMed’s member companies range from the largest to the smallest medical technology innovators and companies. The Association acts as the common voice for companies producing medical devices, diagnostic products and digital health technologies.
Company details
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- Business Type:
- Professional association
- Industry Type:
- Medical / Health Care
- Market Focus:
- Globally (various continents)
AdvaMed’s Efforts
Bringing innovation to patient care worldwide
AdvaMed advocates for patient access to safe, effective, and innovative medical technologies that save and improve lives.
AdvaMed promotes competitive policies that foster the highest ethical standards, appropriate reimbursement, and access to international markets. While the policies advocated by AdvaMed are tailored to the specific issues facing the device and diagnostics industry, the need for strategic government policies is applicable to all the high technology, high value sectors in which America must compete effectively if it is to assure robust economic growth and a high standard of living for the American people.
That’s why AdvaMed has created a policy framework that, when enacted, will help preserve our leadership and foster future growth and innovation. Without strategic government policies to support the medical technology industry’s efforts to compete in world markets, American economic leadership will be lost.
A Washington Leader
AdvaMed was named one of the most effective trade associations in Washington, D.C. according to the latest annual TradeMarks study released by APCO Worldwide, a leading international advocacy and communications consulting firm. Based on a survey of 322 policy leaders in Washington, AdvaMed ranked first in 3 of 15 performance categories: media relations, information resource, and member representation.
Medtech’s Impact
Millions of patients’ lives are improved every day because of advancements in medical technology. Medical technology companies strive to innovate and develop the best tools to diagnose and treat patients. Discover the true impact of our industry.
Medical Device Industry Facts
Medical technology companies create life changing innovation. These advanced medical devices and diagnostics allow people to live longer, healthier and more productive lives.
The medical technology industry—often referred to as medtech—comprises the companies that develop, manufacture, and distribute the technologies, devices, equipment, diagnostic tests, and health information systems that are transforming health care through earlier disease detection, less-invasive procedures, and more effective treatments.
Life-changing medical technologies allow millions of people to live longer, healthier, and more productive lives. The research and innovation to develop these cutting-edge technologies allows the U.S. to continue leading the world in medical advancements. From prosthetics to radiation therapies, medtech changes healthcare for the benefit of patients and health care providers. Our technologies improve quality of life, reduce time spent in hospitals and help loved ones beat life-threatening diseases.
What is a Medical Device?
A medical device is an instrument, apparatus, implant, machine, tool, in vitro reagent, or similar article that is to diagnose, prevent, mitigate, treat, or cure disease or other conditions, and, unlike a pharmaceutical or biologic, achieves its purpose by physical, structural, or mechanical action but not through chemical or metabolic action within or on the body.
Medtech Spurs U.S. Innovation
40 percent increase
The U.S. is the largest medical device market in the world, comprising over 40% of the global medtech market.
$1.1 billion
U.S. exports of medtech have consistently outpaced imports, including a trade surplus of over $1.1 billion in 2017.
5 year
Advanced medical devices and diagnostics allow people to live longer, healthier, more productive, and independent lives. From 1980-2017, 5 years were added to the U.S. life expectancy thanks to advancements in medical technology.
60 percent decrease
Since 1980, there has been a 60% decrease in the number of patient-days spent in hospitals thanks to medical technologies.
Our Industry
Medical technology innovators are committed to providing physicians and other health care providers with the best tools to diagnose and treat patients. This commitment drives over 6,500 medtech companies in the U.S., which are mostly small- and medium-sized enterprises, to create medical miracles every day.
Industry Facts
These companies, most with fewer than 100 employees, are in the highly competitive business of creating constant progress through constant innovation.
Our innovations help patients worldwide live longer, healthier and more productive lives.
We improve the efficiency of health care systems through earlier disease detection and more effective treatments that reduce the economic burden of disease and the cost of care.
We drive economic growth by creating high-paying manufacturing jobs in the U.S. and through net exports to other countries around the world.
The market for our products is highly competitive, which helps keep our prices low.
Medical technology saves lives, improves patient outcomes and helps lower the overall cost of health care. It is also one of America’s strongest and fastest-growing manufacturing sectors, creating and producing medical innovations for use around the world—and providing good-paying jobs across the country.
America’s Medical Technology Industry
America’s medical technology companies play a pivotal role in diagnosing and providing quality treatment options for patients, improving outcomes, lowering health care costs and promoting economic growth. Our products range from those developed and used by world leaders in medical science and care—such as nanotechnology, state of the art imaging and genetic testing—to the ones parents use everyday, such as bandages, thermometers and catheters.
The medical technology industry is a manufacturing success story, one of the last expanding manufacturing enterprises in the U.S. that merges rapid innovation with precision product building and distribution. Our industry is a world-leader, with home grown R&D, domestic manufacturing in communities large and small and worldwide exports of American made products. Our economic contributions go beyond conventional measurements of employment, wages and exports—they extend to the increased productivity of the American workforce through greater advances in health.
Innovation is at our core. The advances in medical technology within our own lifetimes is only the beginning of ongoing improvements. America’s core policy and regulatory choices establish the context for future improvements. A strong FDA, appropriate Medicare reimbursement and other policies must be in place to ensure a strong future for patient and health care provider access to earlier and more accurate diagnoses, life-enhancing therapies and continued innovation for the next breakthrough treatments. Medical technology changes lives. We are an engine for growth and a vehicle for personal and health progress.