MedTech Europe Statement: Closing innovation launch gaps in health is key to Europe’s prosperity and competitiveness

Posted on 10.09.2024

Europe has the foundations in place to be a highly competitive economy, and yet, its growth is slowing down. According to Mario Draghi’s Competitiveness Report which was released on 9 September 2024, closing innovation gaps must be Europe’s first priority.

“Europe is attractive for its innovative medical technology research ecosystem, its efficient and accessible healthcare system, and its growing efforts towards value-based healthcare. However, the European region indeed has work to do if it is to retain its historic place as the global ‘epicenter’ of medtech innovation,” comments Oliver Bisazza, CEO of MedTech Europe.

“One of Europe’s many strengths is its unrivalled innovation creation,” he explains. The medical technology sector in Europe files a patent every 30 minutes: this is a testament to the commitment of the medtech sector to save lives and help people manage and improve their health. At the same time, Europe faces the challenge of bridging its top-tier innovation creation, and managing an often slow innovation launch. Coupled with tough competition from other regions of the world, Europe’s international competitiveness gap is widening.

“One reason for that is the risk-adverse nature of EU policies that can lead to overregulation, or unfitted regulation,” explains Bisazza. First and foremost, a structural reform of the sector’s regulatory system is due. Significant improvements must be reached over the short- and mid-term to the EU Medical Devices and In Vitro Diagnostic Regulations, boosting efficiency and overall fitness for sustainability, and leveraging the digital health technology innovation. Likewise, horizontal regulations, such as those in the sustainability or digital policy spheres, often clash with the MDR and IVDR. Insufficient synchronisation across policy domains creates legal uncertainty while fragmentation in the internal market and redundant administrative complexities fuel further hesitation in investing in Europe.

Europe, including both the EU and individual European countries in collaboration, have several avenues to foster its attractiveness for medtech innovation. Implementing value-based procurement and a joint decarbonization and competitiveness plan can further align Europe’s environmental and economic goals. These measures can help build resilient and sustainable healthcare systems, giving patients and healthcare professionals timely access to a wide variety of life-improving and life-saving technologies.

Building resilient and sustainable health systems requires a robust, competitive, and innovation-driven medical technology industry. MedTech Europe, on behalf of the medical technology industry, stands ready to leverage the #PowerOfMedtech in transforming lives and healthcare ecosystems, in order to support Europe’s prosperity and competitiveness for the future.

About MedTech Europe

MedTech Europe is the European trade association for the medical technology industry including diagnostics, medical devices and digital health. Our members are national, European and multinational companies as well as a network of national medical technology associations who research, develop, manufacture, distribute and supply health-related technologies, services and solutions.

For press enquiries, please contact:
Miriam D’Ambrosio
Senior Manager Communications – External Affairs
MedTech Europe
[email protected]