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Limited revenue losses

Despite the worldwide financial crisis, the majority of German medical device manufacturers do not anticipate high revenue losses up until the end of next year, the managing director of the medical technology association SPECTARIS, Sven Behrens, recently announced. The association anticipates a revenue increase of around five per cent to 18.2 billion euros for 2008 and a growth of two to three per cent for 2009.

Sven Behrens, managing director of SPECTARIS (Photo: SPECTARIS)
“The financial crisis will not leave the medical technology sector untouched. However, the effects felt will be smaller than in other industries,” said Behrens referring to the results of a SPECTARIS survey according to which 85 per cent of all companies surveyed did not believe that the financial crisis is having a massive impact on their business in 2008. Many company executives envisaged slightly worse figures for 2009, but almost two thirds did not anticipate severe losses in revenue.

The companies anticipated a growth in the number of jobs in the medical device industry – an increase of around 4.6 per cent to more than 99,000 jobs in 2008. 72 per cent of companies surveyed envisaged that the number of jobs created will continue to rise in 2009.

Revenues achieved outside Germany are expected to decrease slightly, mainly due to a considerably reduced demand for medical devices in the USA. At present, 21 per cent of German medical devices are exported to the USA. It is believed that exports to Japan and Eastern Europe will also decrease slightly. Since the dollar rate is currently favourable to German companies, it is believed that these decreases will be limited. “In addition, budgeting in the health sector is usually done over a longer time period than in other sectors, which results in a reduction of short-term fluctuations in demand,” highlighted Behrens. In the past, the medical device industry has been far less dependent on the economic situation than other sectors. “Thanks to a rapidly growing world population and demographic changes, the demand for medical device products and services will continue to increase,” said Behrens.

Source: SPECTARIS press release - 13 November 2008
Website address: https://www.gesundheitsindustrie-bw.de/en/article/news/limited-revenue-losses