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Germany's strengths in medical devices go beyond possessing Europe'slargest market and a legacy of great scientific discovery. Rather, the Germangovernment is working to enhance research and development (R&D) and thereforeensure the industry's staying power. As part of Germany's "high-techstrategy," the country is making EUR800 million available for research anddevelopment in health research and medical technologies through the end of2009.
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In 2006, EUR21 billion were spent on medical devices in Germany makingthe country Europe's largest medical devices market, and it is growing. Inthe same year, domestic sales in the German medical devices industry broughtin EUR15.9 billion, an increase of 8.1% over the previous year. Export salesalso increased hitting a total of EUR10.2 billion in 2006-an improvement of11.1% over the previous year and moving Germany's rank to second in medicaldevices exports.
The German medical device industry has major players such as SiemensMedical Solutions and Fresenius AG that are among the world's top 10 in theindustry. Besides these leaders there are many small and mid-sized companiesthat are market leaders in their respective sub-segments. Market conditionssuch as Germany's track record in precision production and its excellent R&Dlandscape make it an attractive place for foreign medical devices companies.For example, leading international companies, such as Johnson & Johnson andGE Healthcare Technologies Inc. are major investors in Germany.
The country's demographic development combined with its high standard ofhealth care also leads it to demand world-class medical devices. Nearlyone-fifth of the German population is over age 65. This fact has meant agrowing sophistication and commercialization of healthcare and homecareproducts and services, with positive returns for investors.
"We look forward to MEDICA as it is both one of the world's biggestgatherings of medical devices experts and a chance to educate potentialinvestors about the many advantages that Germany offers pioneeringcompanies," notes Dr. Nicola Henneberg, Senior Manager for Medical Devices atInvest in Germany.
Invest in Germany is the inward investment promotion agency of theFederal Republic of Germany. Its mandate is to promote Germany as anattractive business location. Invest in Germany provides investors withcomprehensive support from site selection to the implementa-tion ofinvestment decisions.Media Contact: Eva Henkel Invest in Germany Phone: +49-30-200099-173 Fax: +49-30-200099-111 Email: [email protected] http://www.invest-in-germany.com
SOURCE Invest in Germany
