With a turnover of € 337 bn, the medical technology market in Germany is already one of the largest in the world; it is growing at an annual rate of about four per cent and the trend is likely to continue as a result of the aging society.
In addition there are 2,000 hospitals, university hospitals and top-level research institutes employing excellently-trained specialists, who also work at the mostly small and medium-sized German companies in the medical technology sector. With an export rate of 64 per cent, they are among the winners in a globalized market and are often trendsetters with their products: they are hidden champions, which Germany and the medical technology sector is full of.
Anyone who is successful here – this is what entrepreneurs say – becomes a part of this huge market and the highly innovative environment. This is not easy. The health system is highly complex, the market strictly regulated, the competition big and hard. Profound knowledge of the market, of the legislation, of the entire environment are prerequisites for successful engagement in Germany. Local contacts are essential. But the effort and the costs are worth it.
"Come to Germany to be a world leader," says Sebastian Gaiser, Policy Advisor at Johnson & Johnson, in an interview with Markets Germany. There is little to add.
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