The worldwide medical device market in 2003 is valued at over €184 billion1, with an estimated nominal increase of about 16% as compared to 2002. The largest market is the US with 38-45% of the world share, followed by the European market (30-34%). Of the European countries, Germany is the largest, with 6.8%2 of the world market, followed by France with 3% . Together, these two countries account for half of the European market.
A key component of health systems:
In Europe, 6.2% of total health expenditure goes on medical devices: 7.6% in the new and 5.4% in the 15 old Member States. The share of medical devices over total health expenditure is lower in both the US and in Japan (about 5.1%).
Role in the European manufacturing sector:
The medical devices sector has been affected by pressures from national cost-containment policies that have curbed the positive trend of growth in the sector. Nevertheless, growing income, aging populations and a general commitment of societies to improving the quality of life has benefited the sector.
Medical device production grew in the EU-25 by 12.5% in 2001 and 7.8% in 2002, well above the average of the manufacturing sector (1.8% and 0.3 % for each year respectively).
Structure of the industry:
Medical device manufacturers are usually large companies, of which the majority are located in the United States. The world market leader in the medical device industry is Johnson & Johnson. However, SMEs also play an important role in the sector, especially in Europe, where they benefit from the proximity to their clients.
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