MedTech Europe publish ‘The European Medical Technology Industry in figures 2019’

A MedTech Europe report finds that the European medical technology market is the second largest medical technology market in the world behind the US, despite fluctuating growth rates over the past decade.

MedTech Europe has published key statistics relating to the European Medical Technology Industry in 2019, the highlights of which are:

  • There are around 27,000 medical technology companies in Europe, of which 95% are small and medium-sized companies (SMEs)
  • The European medical technology market has an estimated worth of €115 billion (based on manufacturer prices), constituting 27% of the world market for such products, and the second largest market after the US

“The European medical device market has been growing on average by 4.3% per annum over the past 10 years. Demand fell in 2009 due to the economic crisis, resulting in a growth rate of only 1%. The market recovered in 2010, but growth rates fell back in 2011. In general, there is ever since a 2-5% growth per annum.”

  • The largest medical device market is Germany (27.4% of the European total), followed by France (15%), the UK (11%) and Italy (10.2%)
  • The top European export destination in 2017 was USA (40.7%) followed by China (9.6%), which closely resembles the top import destinations of USA (52.6%) followed by China (12.2%)
  • In the years between 2007 – 2017 the number of European patent applications for medical technology increased by around 50% to surpass 13,000, whereas biotechnology and pharmaceuticals showed little change, remaining fairly constant at around 6,000 applications

“Medical technology is characterised by a constant flow of innovations, which are the results of a high level of research and development within the industry, and of close co-operation with the users. Products typically have a lifecycle of only 18-24 months before an improved product becomes available.”

  • The European medical technology industry directly employs more than 675,000 people; Germany employs the highest number at 200,000 people, and the UK comes second at 100,000 employees. By comparison, the European pharmaceutical industry employs more than 750,000 people
  • European countries spend an average of 10% of gross domestic product (GDP) on healthcare, with medical technology accounting for an average of 7.2% of this healthcare expenditure (less than 1% of GDP). By comparison, pharmaceutical and other medical non-durable expenditure accounts for an average of 15.9% of this

The full MedTech Europe report can be read here.

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Published on 7. June 2019 in News, News EU