Germany's Rising Export Engine: Medical Devices

BERLIN and OSAKA, Japan, February 22, 2012 /PRNewswire/ --

World Forum for Medical Devices in Kansai

An aging society has a silver lining: medical technology exports are taking off. Today two-thirds of all revenues are generated by exports, an increase from 40 percent in the 1990s. Germany's health care sector has the potential to overtake the automotive industry as the country's flagship industry. Germany Trade & Invest will have representatives at this year's World Forum for Medical Devices in Kansai from February 23-24 to share the latest business opportunities in Germany.

"Demographic developments are changing the way we do business, and medical devices are a key innovation driver. Generous R&D grants and commercialization assistance are available for international companies in Germany," said Gabriel Flemming, medical technology expert at Germany Trade & Invest.

Germany's global share of medical technology exports is 14.6 percent, trailing only the USA. Germany is well ahead of Japan, in third with a share of 5.5 percent. "Innovative companies come to Germany to serve the entire European market from a central location," continued Flemming.

At EUR 278.3 billion in annual revenues, Germany's health care industry already represents 11.6 percent of German GDP, a larger share than the automotive industry. German medical devices generated revenue of EUR 20 billion in 2010 with year-over-year growth of 10 percent. Exports made up the largest share of revenue, growing 12 percent to EUR 12.8 billion.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

Germany Trade & Invest
Andreas Bilfinger
Email: andreas.bilfinger@gtai.com
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