Berlin (ots) – Germany is Europe’s largest market for medical devices. Total industry revenue in 2007 amounted to EUR 17.3 billion – a nearly 7 percent increase on 2006 figures. Investors looking to enter the German and European markets can learn about Germany at Life Science Alley, the largest convention of life science industry professionals in the American Midwest. The conference takes place December 10, 2008 in Minneapolis, Minnesota.
Germany’s research landscape is making its medical technologies some of the most renowned and trusted worldwide. The country’s advanced R&D network ensures that both patients and practitioners have access to the latest medical technologies.
Currently German medical technology companies spend about 9 percent of sales revenue on R&D. As a result, products under three years old account for 32 percent of industry revenue in Germany. Furthermore, Germany is number two in the world in patent applications in medical technologies.
Demographic developments suggest that Germany will remain strong in medical technologies in coming years. By 2015 it is expected that nearly one fifth of Germany’s population will be over age 65, increasing the need for advanced medical technologies and health care.
Existing clusters of manufacturers, research institutes, and clinics allow companies of all sizes the chance to use Germany’s investment conditions to maximize earnings quickly and efficiently. The availability of investment incentives as well as R&D and labor incentives also makes the country an attractive investment location.
Invest in Germany is the inward investment promotion agency of the Federal Republic of Germany. It provides investors with comprehensive support from site selection to the implementation of investment decisions. It can be found at booth 301 at Life Science Alley.