The medical device industry is vast and covers products within so many sectors and medical disciplines.
The global medical device market was estimated at over $200 billion in 200811, with the United States
being the largest market. It is widely accepted that the medical device industry is growing. The recent
economic downturn has not had a huge impact on this market. However, venture capital investments
have slowed but appear to be rebounding somewhat. While the United States and Europe represent a
significant percentage of the overall market, many companies and investors are looking for
opportunities in emerging markets.
Indiana is home to several medical device companies. Warsaw is regarded as the “Orthopedic Capital of
theWorld” and is a short distance from Howard County. Zimmer, DePuy, and Biomet—a few of the
largest orthopedic companies in the world—call Warsaw home. Purdue Research Park inWest Lafayette,
also a short distance from Howard County, is home to several medical device start-ups and early stage
companies.
Creo Quality evaluated potential medical device potential for Kokomo and Howard County. Specific
medical device sub-sectors of possible applicability to Kokomo’s current assets include:
- Electromechanical Equipment
- Orthopedics
- Surgical &Medical Instruments