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8/3/2019 American Competitiveness Agenda Info Graphic
1/1
SUSTAIN U.S. Leadership INMedical TECHNOLOGY
Currently, the U.S. leads in the production oflife-changing medical technology
87.5% of medical technologycompanies that foresee employmentgrowth in the future expect HIGHER
EMPLOYMENT GROWTH OUTSIDE THE
U.S. than in the U.S.4
While total medical technology tradehas increased signicantly, THEBALANCE OF TRADE IN MEDICAL
TECHNOLOGY HAS DRAMATICALLY
DECREASED.5
The U.S. ranks 24TH OUT OF 38 OECDcountries in the value of its R&D taxcredit.8
The U.S. has a 27.6 PERCENTEFFECTIVE TAX RATE, compared to theOECD average rate of16.4 PERCENT.9
BREAKTHROUGH MEDICAL TECHNOLOGY (PMA) APPROVAL IN THE U.S.NOW TAKES NEARLY FOUR YEARS LONGERTHAN IN THE EU6
1. Medical Technology Innovation Scorecard, the race for global leadership, PWC, January 2011, page 8
2. Ibid.
3. NOTE: Accounts for direct and indirect employment. State Economic Impact of the Medical Technology Industry.Report prepared for AdvaMed by The Lewin Group, Inc. 2007
4. AdvaMed Industrial Competitiveness Survey: Key Findings, page 3
5. United States International Trade Commission DataWeb
6. Competitiveness and Regulation: The FDA and the Future of Americas BioMedical Industry, February 2011,California Healthcare Institute and The Boston Consulting Group, page 13
7. FDA Impact on U.S. Medical Technology Innovation A Survey of Over 200 Medical Technology Companies, JoshMakower, MD, Stanford University; Aabed Meer, MD-MBACandidate, Stanford University, page 28
8. OECD Science, Technology, and Industry Scorecard 2009
9. Paying Taxes 2011: The Global Picture, PWC and the WorldBank Group, November 18, 2010, http://doingbusiness.org/data/exploretopics/paying-taxes
Each additional month working
through the PMA process in the
U.S., a company incurs:7
BUTU.S. LEADERSHIP IS BEING CHALLENGED
FOR MORE INFORMATIONvisit
AdvaMed.org/Competitiveness-Agenda
Policies Put U.S. Leadership at risk
SO wHAT NOW?
SOURCES & FOOTNOTES:
The U.S. accounts for
of the globalmedical technology
market.2American jobs.3
TWO Million
The industrycreates
+14.2MONTHS
+
34.0MONTHS+53.7
MONTHS
+46.8MONTHS
$740,000PER MONTH
40 PERCENT
A Competitiveness Policy AGENDAFOR THE MEDICAL TECHNOLOGY INDUSTRY
SUSTAINED U.S.
LEADERSHIP INMEDICAL
TECHNOLOGY
Reform andexpedite the FDA
review process
Implement strategictax policies to level the
playing eld
Improve domesticcompetitiveness
and expandexports throughvigorous trade
policy
Develop
payment policythat supports
medicalinnovation
Improve theAmerican research &
development
infrastructure
Elevate innovationin the life sciencesas a government
priority
U.S. companiesdominate the roughly
global device industry.1
$350 billion
MEDICAL TECHNOLOGYEMPLOYMENT GROWTH
GREATER EMPLOYMENT GROWTHEXPECTED OVERSEAS
U.S.
12.5%87.5%
OUTSIDEU.S.
DECLINING U.S. TRADE BALANCE INMEDICAL TECHNOLOGY
U.S. R&D INCENTIVES REMAIN LOW U.S. CORPORATE TAX RATESREMAIN HIGH
0.4
0.0R&D
TAX
INCEN
TIVE
0.1
0.2
0.3
FRA
NCE
SPAIN
PORTU
GAL
CZ.REPU
BLIC
INDI
A
BRAZIL
U.S.
30
AVG.
0EFFECTIVE
TAX
RA
TE
(%)
10
20
N.ZE
ALAND
U.S.
GER
MANY
SPAIN
S.KO
REA
IREL
AND
CA
NAD
A
FRA
NCE
DELAY
BETWE
ENU.S.
AND
EU
APP
ROVAL 2004
2006
2008
2010
20
10
0
30
40
50
60
70
80
+1
0
+2
+3
+4
+5
+6
+7
+8
TOTALU.S.TRADE,USD
BILLION
S
TRADE
BALANCE,USD
BILLIONS
20011998 2004 2007 2010
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