Home / Business / The South Florida Medical Industry As of June 2017

The South Florida Medical Industry As of June 2017

Business Trends in the South Florida Medical Industry

The South Florida region continues to be one of the most robust areas for the medical industry in the United States.  Florida is ranked 2nd among states for FDA registered medical device manufacturing facilities, including some of the nation’s most highly regarded research centers.  More than 1,100 biotech, pharmaceutical and medical devices companies are based in Florida, with a number of them in the Jacksonville, Fl area but most located in South Florida.  Some of the leading healthcare industry companies like Arthrex, Bristol-Myers Squibb, Johnson & Johnson and Medtronic have extensive business operations in Florida.

Why Is South Florida Such a Great Place for the Medical Industry?

Demographic Factors:  A large population is one of the key reasons for South Florida’s large medical industry presence.  The more people, the more need for medical services.  There is also the obvious large retiree population (one elderly person will use a lot more medical resources than multiple young healthy individuals).  But equally important is the large number of young, tech-savvy workers, many of whom are multilingual and able to work easily with international businesses.

Education Factors:  South Florida is fortunate to have multiple colleges (namely the University of Miami and Florida International University along with many smaller schools) with advanced healthcare related programs.

Technological Factors:  Miami, Florida has a NAP (Network Access Point) that links three continents together.  NAPS are the core of the Internet and South Florida is able to attract serious IT talent to the area.  In fact, South Florida is home to many managed hosting, colocation, security, data storage and cloud computing service companies.  Citrix Systems, for example, is an iconic IT company and an early leader in Internet Services with a large presence at it’s South Florida headquarters.

Geographical/International Factors:  A percentage of visitors coming from Central and South America for medical procedures not available in their home countries (medical tourism) continues to be a source of patients for South Florida medical facilities.  There is also a growing number of medical device/medical equipment companies from these countries that come to South Florida as a place to buy medical equipment and supplies for export.

With a growing population, a tech-savy, multi-lingual workforce and lots of healthcare job opportunities, Florida will no doubt continue to be a national leader in the medical industry.

AUTHOR:  1st Place Medical offers a large variety of hospital-grade medical equipment from our South Florida headquarters.

About Omegaventfl

Check Also

Article: Buying Used and Refurbished Endoscopy Equipment

There are several factors that need to be considered when buying used and refurbished endoscopy …

Leave a Reply