The medical technology industry is gaining reputation among decision makers in the health care industry as more important for the than the pharmaceutical industry for the first time. This is the result of the German Medical Technology BVMed commissioned survey of MPs, Government and POS representatives and journalists. Within the medical technology sector, the properties of „innovation“ (86 percent) and „Major Economic Factors“ (78 percent) are best connected.
What is of interest are some of the values that were retrieved in favour of the medical technology sector over the pharmaceutical industry: 87 percent of those surveyed believe that decision makers certifying innovative medical technologies are of a greater contribution to medical progress than those in the pharmaceutical industry (74%). This result coincides with the question of the future roles of the medical technology industry and the pharmaceutical industry within the healthcare system. 72 percent of respondents measure the med-tech sector for the future at a high priority. This figure is for the first time above that of the pharmaceutical industry (71 percent), according to the survey.
Evidenced within the survey attested to the „innovativeness“ of the medical technology sector and also provides statistics on patent applications to the European Patent Office. These have increased within this sector since 2001, and in the last decade in Europe by nearly 100 percent, well above the growth of the pharmaceutical industry. In Germany alone last year across all industries, medical technology applications were second in abundance of almost 1,500 patent applications. The innovative strength of many SMEs is apparent here, but equally a key success factor in the industry is a prerequisite for economic impact that results from the from the relatively short product life cycle of medical devices.
One indication of the importance of Medical Technology in the survery was the growing interest of investors. Multiple financial and strategic investors have their eyes set on the industry with an annual turnover of around EUR 21 billion euros. An example of this is recently was the acquisition of the medical products manufacturer BSN by EQT. The attraction of the industry is reflected here, and is also reflected in the sale price of the former Beiersdorf subsidiary, corresponding to EUR 1.8 billion, 10 times the annual revenue. Another recent example is the purchase of the wheelchair manufacturer Sunrise Medical Equistone Partners Europe, showing the growth of the rehabilitation industry and the innovation potential of business mobility.