Florida is rapidly emerging as a significant player in the US Medical Device industry, leveraging its strategic location, robust healthcare infrastructure, and a dynamic business environment.
As of 2024, the state ranks fourth nationally in Medical Device manufacturing, boasting nearly 24,000 jobs and generating approximately $6.09 billion in revenue.
Strategic Hubs Driving Growth
Jacksonville: A Nexus for Innovation
Jacksonville has solidified its reputation as a centre for medical innovation. The region hosts major players like Johnson & Johnson Vision, which supplies over 2 billion contact lenses annually, and Medtronic’s Ear, Nose, and Throat division, which not only oversees product development but also conducts over 150 medical education labs annually. The presence of institutions like the Mayo Clinic and the UF Proton Therapy Institute further enhances Jacksonville’s appeal to medical device manufacturers.
Daytona Beach: Scaling Production to Meet Demand
In response to a nationwide IV fluid shortage, B. Braun Medical announced plans in October 2024 to increase the production of intravenous saline fluids by 20% at its Daytona Beach facility. This expansion aims to boost annual production of IV sets by over 30 million units. Additionally, AdventHealth Daytona Beach is undergoing a significant $220 million expansion, adding 104 beds and enhancing its surgical and intensive care units.
Orlando and Tampa: Diversified Medical Manufacturing
The Orlando area ranks 14th nationally in medical device employment, housing companies like Amber Diagnostics and IRadimed. Tampa hosts firms such as Smith & Nephew and AxoGen, contributing to the state’s diverse medical manufacturing landscape.
Factors Fueling Florida’s MedTech Surge
Robust Healthcare Infrastructure
Florida’s extensive network of hospitals and research institutions provides a strong foundation for medical device companies. Facilities like AdventHealth Orlando, the largest hospital in the U.S. as of 2023, and specialized centers such as the UF Proton Therapy Institute, offer opportunities for collaboration and innovation.
Strategic Logistics and Accessibility
Florida’s designation as “America’s Logistics Center” is well-earned, with deep-water ports, interconnecting interstates, and an international airport system facilitating global reach and speed to market for medical device manufacturers.
Supportive Business Environment
The state’s commitment to fostering a favorable business climate is evident in its support for manufacturing and innovation. Florida’s manufacturing GDP grew from $43.5 billion in 2014 to $73 billion in 2022, a 67.8% increase over nine years.
Looking Ahead
With a projected global medical device market growth of 5% annually, reaching nearly $800 billion by 2030, Florida is well-positioned to capitalize on this trend. The state’s combination of strategic location, robust infrastructure, and supportive policies make it an attractive destination for medical device companies seeking growth and innovation opportunities.
For professionals and companies in the medical device sector, Florida offers a compelling landscape for investment, collaboration, and expansion. The state’s continued growth and commitment to healthcare innovation signal a promising future for the industry on the East Coast.