European Medical Device sector

We are committed to supporting North American medical device manufacturers by driving growth across Europe.

 

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Overview of Industry in Europe

The European medical device market is expected to reach USD 136.30 billion by 2023, with the cardiology sector accounting for more than 19.27 billion of that total. According to the European Commission, there is still a need for novel healthcare solutions for the diagnosis, prevention, monitoring, prediction, prognosis, treatment, or alleviation of illnesses on the European continent.

More than 33,000 medical devices are now on the market with 34,000 companies service in the industry. The European medical device market is made up of 95% SMEs from Germany, France, UK, Italy, Netherlands, Spain, Switzerland, Belgium, Austria and Sweden.

Germany is still the highest contributor to the industry, producing a high number of quality medical equipment. The country imports and exports a high volume of devices annually. US companies such as GE Healthcare, Johnson & Johnson, 3M, Abbive, Henry Schein, and Medline, have set up their European subsidiaries in Germany. 
 
The estimated expenditure on medical devices and technologies is around Euro 284 per capita, with most countries offering insurance and reimbursements to patients. An average of 11% of the GDP is spent on healthcare and only 7.6% is specified for medical devices. 
 


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