The potential of medical device industry in technological and economical context

Abstract

The high quality of public health improves not only healthy life expectancy, but also the productivity of labor. The most important part of the health care sector is the medical technology industry. The aim of this study is to analyze the current situation in the medical device industry in Europe, its potential strengths and weaknesses in the context of topical economic and demographic development. The contribution specifies an analysis of the economic state of the medical device industry in the context of demographic development of European Union’s macroeconomic indicators and views of experts in the field of medical device development, concerning the opportunities for entities involved in the medical device market. There is fierce competition on the European market. The innovative activity is stable and well regulated by responsible authorities. Worldwide, the medical device market is expected to grow.

Keywords:

• technology context
• medical device
• Europe
• expenditure
• review

Acknowledgments

This work was supported by a project at the University of Hradec Kralove titled Excellence FIM UHK 2015. It was also supported by the long-term development plan FNHK.

Disclosure

The authors report no conflicts of interest in this work.