The Medtech Sector Withstands the Economic Crisis

To what extent do medtech companies feel the consequences of the economic and financial crisis? To answer this question, industry trade association BVMed conducted an online survey in early March 2009. The results confirm that on the whole the medtech sector is well placed in the German economy:

-One fourth of the companies currently experience no adverse consequences on their business operations as a result of the financial crisis.

-Only one third of the companies report a drop in sales in the first months of 2009 compared with the good previous year.

-Actual measures such as a stop on hiring staff were initiated by 32 percent of the companies. Only 4 percent of the companies participating in the survey have had to reduce jobs in connection with the financial crisis so far.

- More drastic consequences such as problems in obtaining credit for financial requirements, withdrawal of investors, shutdown of production capacities or reduced working hours play no, or only a very slight, role for the medtech companies.

However, companies are suffering the general problems of the industry, which have been observed for years and are independent of the economic crisis. These are a stronger downward pressure on prices, which was cited by 57 percent of the companies, and a generally more strained financial situation as mentioned by 43 percent.

To read BVMed’s 2009 market report, click here.

Tags: BVMed, German medical device market