- MedTech - products, services, or solutions used to save and improve people's lives
- MedTech - present from prenatal stages to surgical procedures, monitoring health, and providing care
- UX – prevention -> diagnosis -> monitoring -> treatment -> care
??? Three main categories of MedTech:
- Medical devices (MDs) - products, services or solutions that prevent, diagnose, monitor, treat and care for individuals
- In vitro diagnostics (IVDs) - non-invasive tests used on biological samples (e.g. blood, urine or tissues) to determine the status of an individual’s health
- Digital Health – tools / services that use info and communication technologies (ICTs) to improve prevention, diagnosis, treatment, monitoring and management of an individual’s health / lifestyle
- The European MedTech sector is transitioning to two new regulations
- However, presently it is regulated by:
??IVD - Regulation 2017/746/EU
??MD - Regulation (EU) 2017/745 (Medical Devices Regulation = MDR)
- The EU MedTech employs directly > 800,000 people (2021)
- The jobs are highly productive - value added ~ €184,000 per employee
- In comparison, the EU pharma employs ~ 840,000 people (2022)
- In Europe, there are > 34,000 MedTech companies with Germany having the highest number followed by Italy, the UK, France and Switzerland
- SMEs make up ~ 95% of MedTech
- In Europe, an average of ~ 11% of GDP is spent on healthcare
- The European MedTech market is ~ €150 bn (2021)
- The top biggest markets - Germany, France, the UK, Italy, and Spain
- The European medical device market is ~ 27.3% of the world market (based upon manufacturer prices)
- Europe - the second largest medical device market after the US (43.5%)
- Europe has a positive medical devices trade balance of €6 bn (2021), with the US, China, Japan and Mexico being key trading partners
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