Your gateway to the European medical device market

Estimated at € 100 billion, the European healthcare market provides ample opportunity, however, requires effective navigation in a complex environment of heterogeneous national healthcare markets.

IdeogeniQ supports medical device companies to access European healthcare markets, and to select and manage distributors and distribution channels, in order to achieve structural and sustainable growth.

European Medical Device Market

The European medical device market is valued at approximately € 100 billion and is estimated to represent 31% of the world market, being the second largest market after the US. Within the European healthcare market, Germany, France, UK and Italy represent the four largest medical device markets. Across Europe, there are roughly 25,000 medical technology companies employing more than 575,000 people.

European Medical Device Trading Partners

The main medical device trading partners for Europe are the US, China and Japan. Market research companies expect Western European markets to increase at a compound annual growth rate (CAGR) of 3.7% in the period between 2014 and 2019. Market growth drivers include a rising elderly population, epidemiology trends focused on chronic diseases and technology innovation.

Expenditure On Medical Devices

In Europe, an average of 10% of gross domestic product (GDP) is spent on healthcare. Of this figure, around 7.3% is attributed to medical technologies, i.e. less than 1% of GDP. The spending on medical technology is estimated to vary significantly across European countries, ranging from around 5% to 10% of the total healthcare expenditure. Expenditure on medical technology per capita in Europe is at around €197 (weighted average).

Projects 

Projects we have successfully completed in the past, cover all major aspects of the commercialization and distribution of medical devices in Europe, as well as the establishment of operational and organizational structures, processes and systems, and we have done so for small, medium-sized as well as large multinational corporations.

Insights

Please visit our Insights section, where you will find links to a wide range of interesting websites as well as a wealth of publications concerning the commercialization and distribution of medical devices in Europe.

Contact

For more information about how we could support your endeavors to position and grow your device business in the European market, please contact us.