For the purpose of profiling some medtech startups, I was reviewing the state-by-state numbers of companies in our medtech startups database and revealed some interesting concentrations in the data. First, it should be no surprise that California, long having a tradition in this industry, has more medtech companies than any other state.
Concentrations of companies with technologies in specific clinical or technology areas show some variation (aside from Calif. having most in all categories).
There is no compelling take-home message here, as the data on states reflect predominantly a geographic correlation with population. The mistake in reviewing this data is as much to overestimate a state’s contribution as to underestimate it. Some compelling technologies have emerged from some relatively rural parts of the U.S. Correspondingly, positioning a medtech startup in Silicon Valley may provide access to capital, but is no guarantee of commercial success of technology development.
While the above post considers startups in the USA, which indeed is a significant contributer to company formation, the Medtech Startups Database details companies globally. The database also categorizes companies by 24 different clinical/technology types, including the six categories listed above.