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HANNOVER MESSE 2020, 20 - 24 April
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Trade & Invest

Medical technology passes the 30-billion threshold

For the first time ever, the medical technology industry has brought in more than 30 billion euros within a single year. Thanks to digitalization, this positive trend may continue.

19 Jun. 2019
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Photo: INDUSTRIEVERBAND SPECTARIS und Statistisches Bundesamt (Destatis)

As reported by the industry association Spectaris , German companies active in the field of medical technology brought in a total revenue of 30.28 billion euros in 2018 – an increase of about 2-3%. 2019 is expected to see a similar level of growth. Due to the high export rate (65%), however, there is some risk involved; just last year, exports to Great Britain lagged by 0.4%, and those to Turkey by a whopping 12.7%. This is why the industry has pinned its hopes on digitalization as a driver of growth: According to the prognosis of Spectaris and the consultancy Roland Berger, revenue from digital products and services is expected to increase from its current 3.3 billion euros to 15 billion by 2028.

The German Medical Technology Association (BVMed) sees some cause for concern. It is advocating for a reworking of the strategic process for medical technology stipulated in the coalition agreement in order to better support this industry, as it relies heavily on medium-sized companies. One of the issues concerns the important national information platform medizintechnologie.de , which was forced to shut down due to legal issues.

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