US and Asia show strong demand for German medical technologies

28 November 2011

Berlin, Germany. Demand for German medical technologies will grow by 6% percent in 2011, according to industry experts. Above average demand from the USA and Asia are giving the industry a boost despite European market instability.

"Germany's med-tech industry is characterized by exceptionally strong innovation potential flanked by Germany's reputation for ingenuity. This is driving global demand and turning medical technologies into one of Germany's most interesting sectors for foreign investors," said Dr Sandra B├╝tow, medical technologies expert at Germany Trade & Invest in Berlin.

Hundreds of companies, originating from Germany or abroad, are already active in the sector. Earlier this month German firm Balda, predominantly active in telecommunications, announced that it would entirely shift its focus to medical technologies, a vote of confidence for the industry.

The German government is supporting the industry with a number of initiatives to help Germany maintain its position in the future. The Federal Ministry of Education and Research, for example, launched a new initiative last month to assist small, research-oriented businesses to accelerate the process from the laboratory to the marketplace for medical technologies. First-time research applicants can now receive quicker access to research funding. International companies with a presence in Germany can take advantage of such programs.

Source: Germany Trade and Invest

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

 

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