Markets on Air news magazine features German medical technology

The video news magazine of Germany Trade & Invest (GTAI) — Markets on Air — has featured medical technology made in Germany in its February edition. Each month the program presents informative news about a segment of the German economy.

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The video focuses on how German medical technology serves patients and doctors at home and abroad. It starts in surgery, and shows a number of technologies playing key roles in a complex operation.

The report goes on to present first-hand how German industry, medical practitioners and educational and research institutions work together to promote innovation, with the aid of financing from the German government. Also addressed are the latest challenges presented by digitization and software development, as well as a number of groundbreaking concepts and how these may be advanced.

What is more, the magazine presents key figures about the global and German medical technology industry and shows how increasingly sophisticated medtech is serving more and more people daily. Cooperation between industry, research and government has contributed to making Germany’s medical technology sector a European and global leader. For example, costs of bringing innovative new products to market are a tenth of what they are in the US.

The German medical technology industry employs more than 195 thousand people, yet it is dominated by SMEs. In 2016, it had sales revenues of EUR 29.2 billion, with nearly two thirds of the products being sold abroad. The country is among world leaders in terms of patent applications for medtech. Additionally, most of the Germany’s medtech products are less than two or three years old.

As is the inward investment agency of the Federal Republic of Germany, GTAI implements HEALTH MADE IN GERMANY, the export initiative for the German healthcare industry. Markets on Air is produced by Germany’s international broadcaster Deutsche Welle on behalf GTAI.