BVMed Annual Report Emphasises the Importance of Innovation

April 15, 2011 – 3:38 pm

The German Medical Technology Association BVMed recently released its 2010/2011 annual report on the German medtech sector. In the report’s editorial, BVMed Chairman Dr Meinrad Lugan calls for clear perspectives on medical technology innovations. BVMed proposes several initiatives to promote innovation and development, including stronger participation rights in the Joint Federal Committee and the introduction of innovation pools in the Statutory Health Insurance.

The report confirms that the German medical technology industry, which employs around 170,000 people, is growing. The industry had a sales growth of 5.5 percent in 2010 and almost 50 percent of companies expect higher results in 2011. There are several concerns, however, that could impede growth. Financially, the main concerns of the surveyed companies were increased prices of raw material, increased price pressure, a tight financial situation and higher outstanding debts. With 96 percent of medtech companies having job openings, another concern is the difficulty to find qualified candidates.

The companies in the survey cited a need for “less red tape and accelerated decision processes” as the most important political demand.

In the editorial, Lugan stated that German politicians are increasingly acknowledging the importance of the medtech industry and mentions recent health economy events attended by Chancellor Angela Merkel as examples. Lugan said that there is a need for a “common strategic positioning of industry, science, and politics on research, development, and innovation in medical technology”.

The BVMed Annual Report 2010/2011 can be downloaded on the BVMed website.

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