Medtech or medical technology is meant to enhance the quality of healthcare in the form of early diagnosis, minimised hospital stays, less invasive methods of treatment, and reduced recovery times. It is possible with the advancement in technology that has led to improved biotechnology, medical devices, healthcare services, and a lot more.
As per the current market scenario, the United States and Western Europe have established centres of the medtech industry. And, it looks like Asia, especially China will play a prominent role in the coming years.
When it comes to employment in the medtech industry, a report by Medtech Europe suggests that there are 27,000 medical technology companies in Europe. Predominantly, these companies are based in Germany and the United Kingdom followed by the others. And, these European medtech companies are estimated to employ over 675,000 people in the industry with Germany again in the lead with the highest number of people employed in the medtech sector. Below is a detailed look at the top countries in Europe with the highest number of employees in the medtech industry.
With the highest number of medtech companies and employees in the sector, Germany is said to contribute to nearly 30% of the medtech industry in Europe, thanks to the innovative companies in this sector. Most of the German medtech companies are said to focus on prosthetics and implants among others. Ada Health, Kaia Health, Mimi, Aurora Health, etc. are some leading German medtech startups.
United Kingdom (100,000)
The medtech industry in the United Kingdom has undergone a radical transformation in recent years. It has expanded to several sub-industries such as medical devices, meeting the needs of ageing population, public healthcare, etc. Even post the financial crisis in the region, medtech has been successful. Some notable medtech startups in the UK are Congenica, Medopad, and many others.
The French medtech market is robust and one of the largest in Europe as well as the world. The country is home to manufacturers of in-demand technologies including disposable medical products, diagnostic imaging equipment, non-invasive surgical devices, intensive care equipment, and orthopaedic implants. DNA Script, Wandercraft, Sensome, etc. are among the leading French medtech startups.
In addition to being a gorgeous landscape in Europe, Italy is known for its thriving startup ecosystem. Well, the country is home to a slew of sizzling tech startups across industries with medtech being a prominent one among others. In the report we are seeing, Italy ranks fourth in terms of employment in the medtech industry. Some popular Italian medtech startups include Medra, F-star Biotech, and Lifebrain among others.
Switzerland is among the global leaders in the medtech industry. The country is known for research, development, and production in this sector with first-class research institutions, a sophisticated healthcare system, and expertise in precision technologies. Distal Motion, Symetis, CeQur, Medartis, etc. are some fast-growing medtech startups in Switzerland.
Ranking sixth in Europe in terms of employment in the medtech industry, Ireland is the leader along with Switzerland in the number of medtech employees per capita. This is not a huge surprise as Ireland has best-in-class capabilities in research and intensive collaboration between companies, clinicians, and research institutions making it an ideal platform for medtech companies that want to innovate and scale. Pharmapod, Atlantic Therapeutics, Synecco, etc. are some fast-growing Irish medtech startups.
Spain is one of the leaders in the medtech sector in Europe and is known for providing access to the best products and latest technological advancements that require a great research effort. The Spanish medtech sector is dominated by startups involved in diagnosis, orthopaedics, and dentistry among others. Gem imagin, Liposcale, Iline microsystems, etc. are some notable Spanish startups in the medtech industry.
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