Massachusetts medical device exports are growing more rapidly than the state’s exports as a whole, according to a study commissioned by MassMedic, the state’s device industry association.
The study, compiled by Deloitte, found that between 2001 and 2010, device exports grew by a compound annual growth rate (CAGR) of 11 percent, compared with a CAGR of 4.6 percent for overall exports. Medical devices represented 13 percent of all Massachusetts exports in 2010. In addition, exports from Massachusetts companies account for 10 percent of U.S. medical device exports. The state’s exports of medical devices totaled $35 billion in 2010, up from $32 billion in 2009.