Medical Technology Application - Medical / Health Care - Medical Research
Demand for innovative medical technology solutions continues to grow as we live longer, healthier lives. In 2018 spending on medical technology in Germany reached an estimated record high of EUR 36 billion. This creates growth opportunities for the medical technology industry, which in Germany is made up almost entirely of small and medium-sized companies. The positive outlook in the domestic market, combined with strong exports of “Medtech Made in Germany,” resulted in a 10.4 percent domestic industry turnover increase. The following information is designed to help international manufacturers understand how to expand in the German healthcare sector as well as outlining the range of support services provided by GTAI.
Medical aids represent one major segment of the German medical technology market. Megatrends like demographic change and the increasing number of people in need of care stimulate the demand for medical aids in Germany.
Diverse medical aids market
The medical aids sector encompasses a wide range of different product groups in the area of assistive devices and mobility equipment – from prostheses, orthoses, walking aids and wheelchairs through to incontinence treatments and visual and hearing aids amongst other things. In general, the purpose of medical aids is to ensure the successful treatment of a disease, to prevent an imminent disability or balance an existing disability of an individual.
Rising market volume
In 2020, the number of care recipients in Germany exceeded 4.5 million. Expenditures for medical aids are continuously on the rise growing by 3.7 percent per year between 2009 and 2019 to reach a new high of EUR 20.6 billion. A substantial proportion of expenses is reimbursed by health insurance providers. In 2019, spending by statutory health insurance companies on medical aids increased by 6.6 percent to EUR 9.4 billion.