European health and SMEs – big challenges, small & medium sized solutions

Europe 2020 Strategy focuses positively on strengthening and further developing EU policies that support innovation particularly for small and medium-sized enterprises (SMEs).

The European medical technology industry – one of the most innovative in the world – is well positioned for healthy growth under this policy objective. Comprised primarily of SMEs, which make up 80% of the industry, the sector is a major provider of jobs, especially highly skilled jobs in research and manufacturing, and employs nearly 534,000 people across Europe.

Eucomed’s preliminary survey has shown that there are approximately 7,000 medical technology SMEs in Europe. Research in the medical technology industry, which typically occurs at the bedside not at the bench, is usually a result of small or micro collaborations between health professionals, academia and SMEs. This research model brings rapid innovation, which quickly tackles current and emerging medical needs. Fostering and maximising the value of this research in Europe will not only help the EU face the enormous healthcare and demographic challenges, but also position it as a leading geography in line with the goals of Europe 2020 Strategy.