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Medtech Industry Employment Up for Large and Small Firms in 2013
EP Vantage’s new jobs report suggests medtech industry getting stronger
- On average, the top 15 device makers expanded their workforce by 6 percent excluding pharma spin-outs
- Only three of the top 15 medtech companies saw a drop in their headcount in 2013
- Baxter International was the fastest growing top 15 medtech company in 2013
- Top overall hirer in percentage terms was Baxano Surgical with a 57 percent growth rate
LONDON, BOSTON, TOKYO (August 6, 2014) — Medtech employment remained steady in 2013 with most medical device makers experiencing an increase in their workforce according to a new jobs report published by EP Vantage. With more hiring than firing occurring and continued growth expected this year, the medtech industry may finally be picking up steam.
Of the top 15 device makers, only three experienced a reduction in headcount and two of those drops were due to companies spinning off their respective pharmaceutical operations. Excluding these divestments, the top 15 largest medtech firms managed to grow their workforces by an average of 6 percent.
Mergers and spin-offs typically drive employment trends in the medtech industry. Companies including Baxter International and Stryker grew through multibillion-dollar acquisitions of other medtech companies. Baxter was the fastest growing among the top 15 companies in 2013 thanks in part to its acquisition of Gambro, adding 10,000 employees for a growth rate of 20 percent.
However, acquisitions did not play a role for the number two-ranked hirer, Intuitive Surgical. Despite a tumultuous year, the firm brought on 28 new salespeople in 2013, an increase of 30 percent.
“There were a few eye-catching acquisitions and divestments in 2013, but overall, medtech companies increased their headcount slowly and steadily,” said Elizabeth Cairns, report author and EP Vantage medtech reporter. “The trend towards pharma spin-outs means large medtech is getting purer. And with several megamergers underway, we can expect to see much more drastic changes in device makers’ headcounts in the coming years.”
The full version of the report, entitled “Medtech employment stable despite harsh environment,” can be downloaded at www.evaluategroup.com/MedtechJobNumbers. For a look at EP Vantage’s take on pharma and biotech employment numbers, download the “Big Pharma Becomes a Smaller Employer While Biotech Booms” jobs report at www.evaluategroup.com/PharmaJobNumbers.
About EP Vantage
Written by a team of award-winning journalists, EP Vantage provides daily financial analysis of key industry catalysts including: regulatory and patent decisions, marketing approvals, licensing deals, and M&A – giving fresh angles and insight to both current and future industry triggers. Launched in 2007 by EvaluatePharma®, EP Vantage’s unique access to EvaluatePharma and EvaluateMedTech data allows unrivalled, forward-looking coverage of the pharmaceutical, biotech and medtech industries. Visit www.epvantage.com to sign up for a free trial. On Twitter: @epvantage .
About Evaluate Ltd.
Evaluate is the trusted source for life science market intelligence and analysis with exclusive consensus forecasts to 2020. We support life science and healthcare companies, financial institutions, consultancies and service providers in their strategic decision-making. Our services include EvaluatePharma, EvaluateClinical Trials and EvaluateMedTech. Our global team of dedicated healthcare analysts employs rigorous methodologies to deliver strategic commercial analysis. We make our services valuable by combining superior quality content, user-friendly reporting tools and outstanding customer service to solve client problems.
For more information visit: www.evaluategroup.com. On Twitter: @evaluatepharma, @evaluatemedtech, @epclinicaltrial, @epvantage.
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