Figure: Front page of MedTech Europe’s Facts and Figures publication 2020: https://www.medtecheurope.org/news-and-events/news/medtech-europes-facts-and-figures-2020-out-now/
MedTech Europe’s Facts and Figures 2020:
MedTech Europe is the European trade association for the medical technology industry including diagnostics, medical devices and digital health: https://www.medtecheurope.org/.
MedTech Europe’s Facts & Figures is an annual updated report with industry data compiled from multiple sources. By accurately quantifying the footprint of the European medical technology industry, MedTech Europe demonstrates the significance of this industry segment.
This year’s report was published 26.5.20 and is of high interest for everybody involved in the development and translation of nano-enabled medical products and devices and medical technology in general. This applies in particular towards the significant change in regulation that is currently taking place for medical devices.
Here you find some excerpts from the document. All facts and figures you can find in the link in the figure text.
What is Medical Technology:
Medical technologies are products, services or solutions used to save and improve people’s lives. They provide value by allowing people to live longer and better lives, but also contribute to quality, efficiency, and sustainability of healthcare systems. Medical technology is a crucial driver for Europe’s economic well-being, contributing to sustainable healthcare solutions, economic growth, and European competitiveness on a global scale. The three main categories of medical technologies are medical devices (MDs), in vitro diagnostics (IVDs) and digital health. In this report medical technology refers to MDs and IVDs only.
Europe’s Medical technology industry:
The medical technology field is a rapidly evolving industry. Products have typically only a lifecycle of 18-24 months before an improved product becomes available. Medical technology is characterised by a constant and large flow of innovations, as a result of a high R&D activity, with a global R&D investment rate of approx. 8%.
In 2019 nearly 14000 patent applications were filed with the European Patent Office (EPO), representing a 0.9% growth compared to the previous year. The medical technology field accounts for 7.7% of the total number of applications, second highest among all sectors in Europe (only bypassed by digital communication) and significantly higher than the pharmaceutical and the biotechnology fields. For the medical technology field, the number of EPO filings has doubled and the ratio of granted patents to patent applications has been growing in the past years, reaching 76% in 2019.
Economic, societal, and industrial impact:
The European medical technology industry has an important economic and societal impact and employs > 730000 people, counting for approx. 0,3% of total employment in Europe. Added value per employee is estimated to reach €160000. Approx. 10% of GDP (European average) is spent on healthcare, thereof 7.4% on medical technologies, corresponding to approx. €225 per capita.
Medical technology market:
There are > 32000 medical technology companies in Europe, thereof approx. 95% SMEs with mostly < 50 employees. The highest numbers are based in Germany, where also the highest market share is. The European medical technology market is estimated at roughly €120 billion in 2018, which corresponds to 27% of the world market and makes Europe the 2nd largest market after US. On a worldwide perspective, IVDs are the largest application sector, followed by cardiology and diagnostic imaging. Europe has a positive medical device trade balance of €11,7 billion in 2018, mostly with US, China, Japan, and Mexico.
You find all the facts and figures in the report. Please share your opinion on the importance of the medical technology industry for European well-being, healthcare and competitiveness.