The healthcare industry is in a transformative period. At the center of this change are the medical device companies of Northern Kentucky. Northern Kentucky has long been an important location for companies involved in healthcare and manufacturing. Many established operations are in the region because of Northern Kentucky’s:
- history of medical innovations
- opportunities for full supply chain collaboration
- highly educated and skilled workforce
- Innovative spirit
- strong public/private partnerships
- robust infrastructure and logistics support
The region’s legacy of healthcare innovation continues to grow today, as several leaders in the medical device industry call the area home.
In this article, we will look closer at what’s driving that growth. We’ll explore the medical device innovations being made in the region. And we will see how Northern Kentucky’s geographical location plays a part in its success as a healthcare innovation incubator.
Northern Kentucky’s Role in the Medical Device Industry
The strengths and opportunities of the medical device industry in Northern Kentucky are some of the reasons the region is expected to see employment grow in the overall life sciences industry by 49.1% through 2025.
Today, it is estimated that over 11,000 residents of the Northern Kentucky region work in the life sciences. 25% of those workers are employed in the medical device industry in Northern Kentucky. They work for companies involved in, among other industry segments:
- laboratory equipment manufacturing
- research labs
- optical services manufacturing
- dental services
- OTC supplies
- senior care
Medical device manufacturers in Northern Kentucky have developed a number of health “tools” for companies in those healthcare sectors. Innovations have been made in:
- diagnostic tools
- surgical instruments
- injection technologies
- health-focused wearables (i.e. a smartwatch)
These are vital components of a strong healthcare plan because they:
- gather valuable data for a healthcare provider to develop treatment options
- deliver medications
- aid in surgical treatments
There are of course other places where tools like these are being developed. But no other locations have the unique, cross-industry partnerships you find in the Northern Kentucky healthcare community.
Industry Overview
Experts predict that the current growth of the medical device industry is not expected to slow any time soon.
- $508B (US) – projected 2024 revenue of the medical device market
- $669.70B (US) – Projected 2029 revenue of the medical device market
The growth in the industry appears to be powered, in part, by solutions not yet defined.
- The investment into medical device R&D programs has increased by 11.5%
- 69% of healthcare organizations are actively pursuing AI tools
Regional Advantages for the Medical Device Industry
The growth of the medical device industry in Northern Kentucky is supported by several unique regional advantages.
World-class logistics infrastructure
Three key infrastructure areas support the success of the medical supply chain in Northern Kentucky.
- Connectivity – An expansive web of fiber optics has been laid across the region. This has led it to be known as “one of the most wired communities in the world.”
- Transportation – It’s easy to move people and products in and out of the region because it holds:
- The sixth-largest cargo airport in North America at CVG (Cincinnati/Northern Kentucky International Airport)
- Two ports and 2,500 miles of waterway
- Consistent rail service
- A well-connected interstate system
- Consumer Access – From the region, in a day’s drive, you can reach 54% of the U.S. population.
A robust healthcare industry
The Northern Kentucky region has long been a leader in the healthcare industry. It started over a hundred years ago when The University of Cincinnati College of Medicine was founded.
Today the region is home to some of the top healthcare innovation and manufacturing companies in the world including:
- CTI Clinical Trial and Consulting Services the #1 ranked CRO (contract research organization) in the world in 2022.
- Zeiss Vision Care, is an international leader in optics and optoelectronics. In 2021 they made a $20 million investment to create a state-of-the-art, paperless laboratory. They also moved their U.S. corporate headquarters to the region.
Educated, and experienced, workforce
Inside a 75-mile radius of the region companies can benefit from:
- 25 four-year colleges
- 11 community and technical colleges
They offer:
- Northern Kentucky University offers a Health Care Commercialization certificate. Students in that program will learn how to move from research and development to the implementation of innovative healthcare solutions.
- Students could choose to enroll in the Biomedical Technology Systems track at the Kentucky Community & Technical College System. Graduates with this degree will have the knowledge and skills to manage and maintain medical devices.
- The College of Medicine at the University of Cincinnati has a number of medical science degree programs. Students can take classes in medical device innovation, medical informatics, and other similar topics.
There are also numerous industry-supported training and education programs. One of those is NKY FAME (Federation for Advanced Manufacturing Education). This educational partnership program combines work in the classroom and on a job site. At the end of the program, students will earn a degree in Applied Science in Industrial Maintenance Technology-Advanced Manufacturing Technician.
Every year these programs, and others like them, produce 5,500 engineering graduates. It’s a ready, knowledgeable, and capable workforce.
Key Companies and Innovations
There are over 20 companies in the region involved in the business of healthcare. Among those who are developing innovative approaches to medical device manufacturing are:
Thermo Fisher Scientific – Across their combined companies they develop “instruments, equipment, software, and services” to support every aspect of the medical and scientific community.
Gen9 – This group of problem-solvers is focused on developing medical device solutions that meet the needs of an older population. Among their innovations are CosmosVue – eyeglasses that utilize connectivity for safety.
Beckman Coulter – For nearly 100 years, this global life sciences company has developed diagnostic tools and medical devices. Their experience has led to breakthrough developments in automation systems. This provides new opportunities for the development of health solutions.
There is even strong medical device representation in the region for four-legged family members. MILA International specializes in medical instrumentation for animals. They develop inventive, new medical device solutions for pets.
Startup support
Innovation in the medical device industry in Northern Kentucky comes not just from established companies but startups as well. Many get support from KY Innovation Hubs. Blue North, which is part of that collective, offers space, support, and guidance to help startups get established.
The OneNKY Center will open in Covington in 2025. It will centralize access for many of the region’s business growth support organizations. There will also be lab space to facilitate medical and life science research, commercialization, and medical device innovations.
Future Trends and Opportunities
As science advances our understanding of how the body works, new opportunities will open in the medical device industry. That could mean that very soon the medical supply chain in Northern Kentucky will be distributing a very different set of medical devices.
IoT-enabled medical devices
IoT, or the Internet of Things, refers to the connectivity (to each other) of the various devices you utilize. When it comes to medical devices, that could mean:
Patient monitoring devices
- Some devices collect your breathing rate, heartbeat, and blood pressure and send it to a healthcare provider.
- Other devices, like a diabetes monitor, continuously check and record specific vital signs. When anything seems abnormal, an alarm can sound.
Connected inhalers/injectors
You won’t have to worry about when you took your medicine last. Or how much you took. These devices will capture, and collate, key medicine-driven data points.
Surgery from the inside
Surgery in two different locations? Surgeons can have you swallow a sensor or undergo a robotic-driven procedure. And you may not even need to be in the same room.
AI-driven diagnostic devices
Once you have collected that connected information, AI will take over. It can review all available data sets to look for:
- commonalities (Do you experience certain symptoms regularly?)
- anomalies (with a complete health record you can spot patterns easily)
- health success markers
Sustainability/ESG-driven medical devices
In an industry that has long relied on disposables, there is a renewed effort to develop “Green MedTech.” This is not just an environmental concern, it’s a safety one as well.
This has led medical device manufacturing companies to develop ESG-focused business practices at each step of the supply chain. This includes:
- Utilizing renewable energy sources
- Developing relationships with sustainable materials suppliers
- Reassessing their device’s lifecycle in an attempt to find sustainable adjustment points
Medical Device Manufacturing in Northern Kentucky
For nearly two hundred years, the Northern Kentucky region has been synonymous with cutting-edge healthcare. Companies today are building on that legacy of success to develop new tools and techniques that will lead to better health outcomes.
It’s not just the legacy of the region that has made it a lynchpin of the healthcare industry. Companies here also benefit from a:
- innovative business mindset
- experienced workforce
- manufacturing expertise
- strategic location
- diverse infrastructure
- strong startup support
Working right alongside the medical device manufacturers is the BE NKY Growth Partnership. Their economic development expertise has helped the region to become a global player in medical device manufacturing. If your company would like to join the fast-growing medical device companies of Northern Kentucky, contact BE NKY today.