R&D and Demand Draw Medical Biotech Companies and Device Makers to Germany
BERLIN, November 3, 2010 /PRNewswire/ -- Demand for medical biotechnology in Germany grew in 2009, further proving that the economic crisis has been well managed by Europe's largest economy. Revenue in medical biotechnology has increased for a fifth consecutive year, coming in at over EUR 5.7 billion in 2009. This coincides with strong innovation, as hundreds of projects have been realized thanks to cooperation with R&D institutes in Germany. Germany Trade & Invest will have representatives on hand at this year's Open Innovation - Global Strategies in R&D conference on November 4-5 in Boston to share opportunities for American companies in Germany's medical biotechnology and medical device industries.
The importance of R&D for the future of these industries is confirmed by generous funding. At almost EUR 1 billion in 2009, research funding for medical technology remained constant despite the economic downturn. Companies active in the so-called red biotechnology segment are already utilizing Germany's innovative R&D infrastructure, with over 800 cooperation projects with R&D institutes in Germany reported last year. This network of partners facilitates innovation across the entire value chain. Cooperation with other companies, research institutions, and organizations is common, especially for small companies.
Over three quarters of German biotech companies have less than 30 employees. This industry structure allows for international companies of all sizes to easily enter the largest and strongest market in Europe and serve growing demand. Germany's infrastructure, ranked first worldwide by a 2010 World Bank study, enables companies to effectively serve the single European market from Germany.
With over 11,000 companies and 170,000 employees in the medical device industry and several hundred companies working in medical biotechnology, these healthcare industry segments are essential innovation drivers for Germany. Germany is Europe's patent leader with twice the share of registered patents as France and the UK combined. In 2009 German companies were granted over 11,000 patents at the European patent office.
Germany Trade & Invest representatives will be at this year's Open Innovation - Global Strategies in R&D conference in Boston, Massachusetts on November 4-5, 2010. Matchmaking with medical biotechnology and medical device companies will take place with the support of local partners Massachusetts Biotechnology Council (MassBio), Massachusetts Medical Device Industry Council (MassMedic), Massachusetts Life Sciences Center, and the Massachusetts Office of International Trade & Investment (MOITI). Partners from the regional economic development agencies of the federal states of Berlin (Berlin Partner), Mecklenburg-Vorpommern (Invest in Mecklenburg-Vorpommern), and Saxony-Anhalt (IMG Sachsen-Anhalt) will also highlight opportunities in these innovative regions in Eastern Germany.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest
Robert Scheid
Email: [email protected]
T: +49(0)30-200099-170
F: +49(0)30-200099-111
SOURCE Germany Trade and Invest
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