Brussels , 9 March 2006 - Health is Wealth. EU Member States should invest more in innovative medical technology and diagnostics, as this will increase efficiency in healthcare and reduce the burden on society of disease and disability. Improving health should become an economic priority. These were the key messages delivered yesterday by Eucomed, the European medical technology industry association, and EDMA, the European in-vitro diagnostics association, at their joint housewarming reception.
"Many countries are exploring more innovative, adaptable care models. This includes hospital redesign, the increased use of minimally invasive surgery, homecare and self-tests, for example. The elimination of "silo-budgeting" could further contribute to achieving more efficiency in the allocation of resources. Governments must find new ways to work together and work with the key stakeholders in healthcare, including industry", said Dr Drago Cerchiari, Eucomed Chairman and CEO Sorin Group.
Quoting former EU Health Commissioner David Byrne, he said "Health equals wealth. Europe needs a paradigm shift from seeing health expenditure as a cost to seeing effective health policies as an investment. Europe should look at what health puts in to the economy and what illness takes out".
Dr Cerchiari also expressed concern about the competitiveness of the European medical technology industry, "A competitive industry makes an important contribution to achieving good health by providing the effective therapies and diagnostics that are needed. But the European industry is clearly lagging behind the US industry, both in terms of competitiveness and innovativeness. R&D intensity is much higher in the US, and so is scientific productivity; the US has a leading position in terms of patent and publication counts. This is a major concern for us".
Eucomed represents 4500 designers, manufacturers and suppliers of medical technology used in the diagnosis, prevention, treatment and amelioration of disease and disability. The total value of the European medical technology market was estimated at 55,2 billion € in 2003. Small and medium sized companies make up more than 80% of this sector. The European medical technology industry invests an average of 6,4% of sales in R&D and employs near to 400.000 highly skilled workers. The mission of Eucomed is to improve patient and clinician access to modern, innovative and reliable medical technology.
Eucomed and EDMA, the European in-vitro diagnostics association, share the same offices.
Mark Grossien
Communications Director
mark.grossien(at)eucomed(dot)be
+32 (0)2.775.92.24
