The medical technology industry workforce decreased by 28,834 jobs after the medical device excise tax took effect, reports the Advanced Medical Technology Association.
The number of U.S. medtech jobs fell from 401,472 in 2012 to 372,638 in 2015, representing a 7.2 percent decrease, according to recent data from the U.S. Department of Commerce.
The medical device tax entails a 2.3 percent excise tax on the sale of certain medical devices, payable by the manufacturer or importer of the device. The tax took effect in 2013 before being tabled in 2015 as part of an omnibus tax and spending bill. The tax is scheduled to take effect again at the start of 2018.
"These numbers reveal just how devastating of an impact the device tax had on our industry and underscore the urgent need for permanent repeal," said Scott Whitaker, president and CEO of AdvaMed. "At a time when American device manufacturers are ready to grow and create jobs, the best message this Congress and the administration can send is through a full and permanent repeal."
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