Excerpt: By Dennis J. Donovan, originally posted in Expansion Magazine
This article addresses the latest site selection trends displayed by the medical devices industry. Article content embraces: industry definition; revenue and growth; geographic agglomeration; industry informational sources; key location factors; location decision making process; and concluding remarks.
According to the Food & Drug Administration (FDA) a medical device comprises an instrument, apparatus, implant, invitro reagent, or similar article whose utilization involves diagnosing, preventing, or treating diseases/medical afflictions. A medical device does not achieve its purpose via chemical action within the body: that would constitute a drug or pharmaceutical. Medical devices cover an array of products varying greatly in complexity. Examples of more straightforward products are tongue depressors, disposable gloves, and thermometers. Among more sophisticated goods are minimally invasive surgical instruments, medical electronics, joint implants, prosthetics, anesthetics equipment, pulmonary devices, magnetic resonating equipment, and pacemakers.
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