Key Facts
The European medical technology market is estimated to be roughly €170 billion in 20241,2. The top five biggest markets are Germany, France, the United Kingdom, Italy, and Spain. Medical technology offers solutions for many disease areas. On a worldwide perspective, in vitro diagnostics (IVD) is the largest sector, followed by cardiology and diagnostic imaging3.
Based upon manufacturer prices, the European medical device market is estimated to make up 26.4% of the world market. It is the second-largest medical device market after the US (46.4%)1. The European medical device market has been growing on average by 5.6% per year over the past 10 years. Over the past decade, the European IVD market has grown by an average of 3.6% per year.2