Berlin/Lyon – Nearly 50 percent of German medical technology companies are expecting increased profits this year, according to a new study by the German Medical Technology Association (BVMed). Despite slower economic growth across Europe, Germany will remain its most successful market for medical technologies, say Germany Trade & Invest experts at MEDTEC France, taking place on April 4-5 in Lyon, France.
“An excellent R&D framework, rapid market approval of new products, and strong growth potential make Germany an attractive location for foreign companies,” reveals Dr. Sandra Buetow, medical technology expert at Germany Trade & Invest.
Medtech companies invest an average of 9 percent of total revenue on R&D. These investments bring results: Nearly one third of the industry’s turnover comes from products developed in the past three years, signaling that demand for new technologies coming from Germany is high. Significant R&D ventures in small and medium-sized German medtech enterprises result in a remarkably quick entry of innovative products into the marketplace.
“Companies based here benefit from the reputation of the Made in Germany label, a mark of quality that helps them sell 65 percent of their products abroad,” continues Buetow.