Florida MedTech Market: Why Companies Are Expanding Here

As global MedTech companies reassess where to build, scale, and invest next, Florida is increasingly part of that conversation. The state has positioned itself as one of the most attractive U.S. destinations for medical device and health technology investment, combining manufacturing depth, research capability, and a business-friendly operating environment.

Now the second-largest medical device manufacturing hub in the United States, Florida offers a balanced ecosystem where MedTech companies can move from concept to commercialization with fewer operational constraints. With the global medical device market projected to approach $800 billion by 2030, Florida is aligning its infrastructure, talent base, and incentives to capture long-term growth.

 

A Strengthening MedTech Ecosystem

Florida’s life sciences sector has evolved beyond healthcare delivery into a full-spectrum MedTech ecosystem. The state is home to over 2,200 life sciences establishments, supported by universities investing nearly $1.5 billion annually in research and development. This places Florida fourth nationally in government R&D spending, creating a strong foundation for device innovation and applied research.

Established global manufacturers reinforce this momentum. Johnson & Johnson Vision in Jacksonville produces more than 2 billion contact lenses each year, while companies such as Medtronic (ENT division), Smith & Nephew in Tampa, and Arthrex contribute to a broad manufacturing and engineering footprint. As of 2024, the sector employed nearly 24,000 professionals and generated $6.09 billion in revenue, with manufacturing GDP growing 67.8% between 2014 and 2022.

 

Multiple Regional Hubs, Lower Concentration Risk

Rather than relying on a single dense cluster, Florida operates through a distributed regional model, offering resilience and flexibility that contrasts with more concentrated MedTech hubs.

  • Jacksonville serves as a research and clinical innovation center, anchored by institutions such as Mayo Clinic and the University of Florida Proton Therapy Institute.
  • Tampa has become a manufacturing stronghold, hosting companies including AxoGen and large-scale Johnson & Johnson operations.
  • Orlando ranks among the top U.S. cities for medical device employment and supports firms such as Amber Diagnostics and IRadimed.
  • Miami and South Florida continue to attract healthtech and MedTech investment, supported by strong international connectivity and access to global markets.

This regional diversity allows companies to select locations aligned with specific needs—manufacturing, R&D, clinical validation, or international expansion—without leaving the state.

 

Capital Inflows and Public-Sector Support

Investment activity reflects Florida’s growing relevance. In the first half of 2025 alone, South Florida startups raised $2.02 billion, indicating sustained interest from institutional and strategic investors. Recent Series A rounds include Portal Access ($7 million) for oncology-focused devices and Dazos ($25 million) for behavioral health technology platforms.

Public funding complements private capital. Florida’s $50 million annual Health Care Innovation Revolving Loan program, alongside a projected $117 billion health budget for 2026, supports initiatives in cancer research, workforce development, and clinical innovation. Additional biotech grants encourage collaboration between industry and institutions such as the University of Central Florida (UCF) and the University of South Florida (USF), helping early-stage companies manage development and regulatory risk.

 

Incentives Built for Long-Term Investment

Florida’s incentive structure is designed to support sustained MedTech operations rather than short-term relocations. Capital Investment Tax Credits are available for up to 20 years for qualifying projects exceeding $25 million and creating more than 100 jobs, offering long-term visibility for capital-intensive manufacturers.

Other mechanisms include High Impact Performance Grants and R&D payroll tax offsets of up to $250,000 annually. At the local level, counties actively compete for MedTech investment. For example, Miami-Dade County approved a $1.63 million incentive package supporting a $60 million medical device expansion that created 300 jobs. In many cases, combined incentives equate to $10,000–$40,000 per job, or 10–30% of total capital investment, comparing favorably with higher-cost hubs.

 

Logistics and a Business-Friendly Environment

Florida’s position as a major logistics gateway is particularly relevant for MedTech companies operating global supply chains. Its network of ports, airports, and interstate corridors enables efficient access to Latin America, Europe, and other international markets—an advantage for regulated products requiring reliable distribution.

The broader business environment further strengthens the state’s appeal. With no state income tax, competitive operating costs, and workforce programs such as Quick Response Training grants, Florida lowers barriers for companies transitioning from pilot production to scaled manufacturing.

 

A Strategic Investment Destination

Florida offers a combination of manufacturing capability, research investment, capital access, and policy support that is increasingly difficult to find in more saturated MedTech markets. Its distributed hubs, growing talent pool, and long-term incentive structures position the state as a credible base for companies at multiple stages of growth.

For MedTech companies looking to establish or expand a U.S. footprint, Florida is no longer a peripheral option; it is a strategic investment destination with global relevance.

 

Source:

Florida’s Medical Device Industry: A Rising Powerhouse on the East Coast
The Business Journals

 

Where the Conversation Continues
As with every MedTech World edition, the choice of host city reflects where meaningful conversations can take place at that moment in time. This year, MedTech World North America | West Palm Beach 2026, taking place from 11 to 13 May 2026, brings the community to Florida, a state now among the leading U.S. hubs for medical device manufacturing and life sciences. As planning continues to take shape, early engagement allows participants to be positioned effectively within the agenda, ecosystem activities, and curated connections across the three days in West Palm Beach.  Join the conversation now.