The role of medical devices is essential to the healthcare of EU citizens. The diversity and innovativeness of this sector contributes significantly to the enhancement of both the quality and efficacy of healthcare in the EU.
Covering a wide range of products, from simple bandages to the most sophisticated life-support equipment, the medical devices sector plays a crucial role in the diagnosis, prevention, monitoring and treatment of diseases. It also helps improve the quality of life of those with disabilities.
The medical devices sector helps save lives by providing innovative health care solutions regarding diagnosis, prevention and treatment. The sector has become increasingly important for the healthcare of EU citizens and an influencer on expenditure:
- The medical devices industry is a major employer in Europe, employing 575.000 people in the EU
- Total sales amount to â‚¬100 billion
- The sector represents some 25.000 companies, of which 95% are Small and Medium-sized Enterprises (SMEs)
The medical devices sector faces many challenges at national, European and international level, which may have an impact on their innovation capacity and overall competitiveness:
- Public Health Systems
- In particular, emerging needs such as developing a shared understanding of healthcare goals, overcoming health inequalities, an ageing society and exploiting the potential of e-health technologies
- Finding the balance between patient s needs and financial sustainability
- Ensuring that the sector can enhance better access for patients to devices whilst simultaneously ensuring that pricing and reimbursement policies are effective
- Competitiveness and innovation
- Challenges related to R&D, emerging technologies and the green economy, as well as issues related to the EU s trade and regulatory cooperation globally. SMEs in particular face challenges in this regard