DUSSELDORF, Germany, November 13 /PRNewswire/ -- MEDICA is the world's leading medical industry trade fair. Over 2,000 international exhibitors will gather here, from November 14th-17th, to present new advances and technologies for in-patient and out-patient care.
Germany's strengths in medical devices go beyond possessing Europe's largest market and a legacy of great scientific discovery. Rather, the German government is working to enhance research and development (R&D) and therefore ensure the industry's staying power. As part of Germany's "high-tech strategy," the country is making EUR800 million available for research and development in health research and medical technologies through the end of 2009.
In 2006, EUR21 billion were spent on medical devices in Germany making the country Europe's largest medical devices market, and it is growing. In the same year, domestic sales in the German medical devices industry brought in EUR15.9 billion, an increase of 8.1% over the previous year. Export sales also increased hitting a total of EUR10.2 billion in 2006-an improvement of 11.1% over the previous year and moving Germany's rank to second in medical devices exports.
The German medical device industry has major players such as Siemens Medical Solutions and Fresenius AG that are among the world's top 10 in the industry. Besides these leaders there are many small and mid-sized companies that are market leaders in their respective sub-segments. Market conditions such as Germany's track record in precision production and its excellent R&D landscape make it an attractive place for foreign medical devices companies. For example, leading international companies, such as Johnson & Johnson and GE Healthcare Technologies Inc. are major investors in Germany.
The country's demographic development combined with its high standard of health care also leads it to demand world-class medical devices. Nearly one-fifth of the German population is over age 65. This fact has meant a growing sophistication and commercialization of healthcare and homecare products and services, with positive returns for investors.
"We look forward to MEDICA as it is both one of the world's biggest gatherings of medical devices experts and a chance to educate potential investors about the many advantages that Germany offers pioneering companies," notes Dr. Nicola Henneberg, Senior Manager for Medical Devices at Invest in Germany.
Invest in Germany is the inward investment promotion agency of the Federal Republic of Germany. Its mandate is to promote Germany as an attractive business location. Invest in Germany provides investors with comprehensive support from site selection to the implementa-tion of investment decisions.
Invest in Germany
|SOURCE Invest in Germany|
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