About the Medical Technology Industry
Our industry is innovation-driven
Medical Technology is one of the most innovative industries in the world, improving and saving lives every day. New Eucomed data on the European medical technology industry show that in 2005, medical technology sales in Europe amounted to €63.6 Billion, an increase of 15% since our last publication. Average expenditure on medical technology as a percentage of total expenditure in healthcare was estimated at 6,3% (against 5,5% in the US). The data also reveals that the European medical technology industry invests some €3,8 billion in R&D and employs near to 435.000 highly skilled workers.
Key facts and figures
Eucomed member companies are the driving force in a competitive Europe from both an economic and a leadership perspective. They play a major role in Europe's economy at a cost of less than .7% of the GNP. In addition, the medical technology sector continually introduces innovative and life-saving products that address unmet clinical needs and transform patient lives.
Sales and spendings
- The medical technology sector employs 435,000 people across Europe. The high level of employment is a sign of the importance of the industry to the European economy. Small and medium sized companies make up more than 80% of this sector. Our products have an average lifecycle of only 18 months before an improved product becomes available.
- Annual sales for the medical technology sector is 64 billion EUR, which is equal to 33% of the world market share. Up to 6% (or 3.8 billion EUR) of medical technology sales are reinvested in R&D. The European medical technology industry is growing at a rate of between 5% and 6%.
- Average spending per head on healthcare is 2,073 EUR and of this, 128 EUR is spent on medical technology.
- Contrarily to the pharmaceutical industry, the medical technology industry is made up for over 80% of Small and Medium Enterprises (SMEs). Its products are designed generally based on mechanical, electrical and/or materials engineering and generally act by physical means.
Import & Export figures
- Germany is both the biggest exporter (€14 bn) and the biggest importers (€9.2 bn);
- In terms of exports, Germany is followed by France, the UK and Ireland;
- The biggest importers (after Germany) are France, Italy, the UK and Spain;
- Germany, the UK, Ireland, Sweden, Denmark and Finland have trade surpluses in medical technology. All other countries have trade deficits
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