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Was Device Tax Responsible for 29k Job Loss?

By MedTech Intelligence Staff
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The U.S. Department of Commerce reported a 7.2% decline in jobs in the medical device industry.

The medical device tax went into effect in 2013, but its impact was felt even earlier, as device companies prepared for the 2.3% excise tax via widespread layoffs. And although the tax was put on hold for two years [https://www.medtechintelligence.com/news_article/device-tax-on-hold-for-two-years/] as of December 2015, the damage had already been done. According to recent numbers from the U.S. Department of Commerce, between 2012 and 2015, the U.S. medtech industry lost 28,834 jobs—a 7.2% decrease. The majority of job losses were seen in 2014, with the industry losing about 27,000 positions in the industry.

 

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