Brussels, 24 April 2007 - Eucomed, the European Medical Technology Industry Association, has today published its new Medical Technology Brief. The latest figures indicate that in Europe, an average of only 0.53% of gross domestic product (GDP) is spent on medical technology. The new data also shows that the European medical technology industry invests some €3,7 billion in R&D annually and employs near to 435.000 highly skilled workers. The European market was estimated at €61,8 billion in 2005.
Billions of patients worldwide depend on medical technology at home, at the doctor's, at hospital and in nursing homes. Wheelchairs, pacemakers, orthopaedic shoes, spectacles and contact lenses, insulin pens, hip prostheses, condoms, oxygen masks, dental floss, MRI scanners, pregnancy tests, surgical instruments, bandages, syringes, life-support machines: these are just a few examples of the 500,000 products (10,000 generic groups) available today.
There are approximately 11,000 medical technology legal entities in Europe. The largest share of these are based in the UK, followed by Germany, Spain, France and Sweden. Germany had the largest share of total employment, while the number of medical technology employees per capita is highest in Ireland. This high level of employment shows that the medical technology industry is an important player in the European economy.
Of a global market of €187 billion, Europe is the second largest (33%, €61.8 billion) after the US (42%, €79.4 billion), and is growing at an annual rate of 5% to 6%. Germany is the largest individual European country, representing nearly one-third of the total. The Japanese market represents about 10% (€18.8 billion) of the global medical technology market, the Chinese market about 2% (€3.1 billion), and the Brazilian market about 1% (€2.6 billion).
Jessica Johnson
Membership and Events Coordinator
+32 (0)2.775.92.39
