Medical Devices

Medical Devices.jpg

Life-Saving and Life-Changing Technology

Minnesota's reputation as a medical technology pioneer dates back nearly 75 years and is recognized worldwide. Some of the nation's most innovative medical device companies have a headquarters or significant presence here, including:

  • Medtronic
  • Starkey Laboratories, Inc.
  • Boston Scientific
  • Lake Regional Manufacturing Inc.
  • 3M Health Care
  • St. Jude Medical

Medical Device Employment

Minnesota ranks first in the Midwest and second nationwide in medical device manufacturing employment, with 28,141 workers (2013). 

The concentration of workers in this key industry is nearly four times higher than in the nation as a whole.

Minnesota added the sixth-largest number of workers (1,502) in medical device manufacturing industries nationwide between 2005 and 2013. 

Source: U.S. Bureau of Labor Statistics

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Innovation and Investment

Patents alone tell an important story the pace of innovation. Minnesota ranks:

  • First nationwide in medical patents per capita in 2012.
  • First in the world in “light, thermal and electric surgery applications” (class  607) with 1,458 patents between 2008 and 2012.
  • Second in overall medical patents (3,520) between 2008 and 2012. 

Source: U.S. Patent and Trademark Office

Minnesota's largest share of venture capital investment in recent years has been consistently targeted toward medical technologies. Nearly 60 percent of all venture capital investments in the state ($160 million) went to medical device companies in 2013.

Opportunities for Collaboration

The Mayo Clinic works with health care and medical technology companies.

The University of Minnesota's Industrial Partnership for Research in Interfacial and Materials Engineering (PRIME) is a unique corporate membership-sponsored program where companies can use students, faculty and equipment for research.

The University's Institute for Engineering in Medicine, Medical Devices Center and Visible Heart Lab combine health sciences and engineering to develop talents and products and provide a place to test new medical devices.