Survey Respondents Showcase Diverse Industry
Note: this is a companion to our main article, 2000 Business Outlook: Creating the Future
The executives responding to MD&DI's 2000 business outlook survey represent a diverse and dynamic industry. Approximately one-third of those surveyed work for companies that have been involved in medical manufacturing for more than 20 years, whereas one-fifth are with firms founded less than five years ago. The Northeast had the highest proportion of long-established companies, with 43% in business for more than 20 years; by contrast, only 22% of firms located in the South—the "youngest" region—had been active that long.
Geographic and numerical breakdown of device company executives responding to MD&DI's 2000 business outlook survey.
In comparison with last year's survey, sales figures reveal more companies in both the highest and lowest levels of the earnings spectrum. The number of firms with sales of more than $10 million has risen to 25%, while those with no sales or sales totaling less than $500,000 have also increased, to 28%. Median sales volume was $2.74 million, compared with $2.82 million for 1999.
Types of FDA-regulated medical products manufactured by the companies of MD&DI survey respondents.
Manufacturers of disposables again make up the largest group of respondents (43%), followed by those producing medical electronics (30%), surgical instruments and supplies (19%), and in vitro diagnostics (17%). Companies are spread evenly across the country, with 27% of those surveyed located in the Northeast region, 26% in the West, 25% in the South, and 22% in the Midwest.
SURVEY METHODOLOGY
MD&DI's exclusive eighth annual business outlook survey was conducted by the nationally recognized independent research firm Readex Inc. (Stillwater, MN), from October 18 to December 13, 1999. Questionnaires were mailed to 450 executives—chosen randomly from domestic recipients of the magazine—whose companies manufacture finished medical devices or in vitro diagnostics. Only those executives serving as general managers, presidents, CEOs, COOs, chairmen, owners, principals, CFOs, or vice presidents were included in the selection.
Medical product sales volume in 1999 for the companies of top executives responding to MD&DI's business outlook survey.
The survey was closed when 212 usable responses were obtained—a 48% response rate. The number of responses was narrowed to 191 to ensure that the executives represented were with firms that produce FDA-regulated medical devices. The margin of error for percentages based on 191 usable responses is ±6.5% at the 95% confidence level.
Number of years MD&DI survey respondents' companies have been involved in the medical device industry.
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