The Pharmaceutical and Medical Technology Industry

The Pharmaceutical and Medical Technology Industry

Germany’s pharmaceutical and medical technology industry contributes to medical care both in the domestic health care market and in many other countries.

The pharmaceutical and medical technology industry is one of the fastest growing sectors in the German economy. Creating value added and high-skilled jobs at home, medicines and medical devices "made in Germany" are also in demand worldwide. Whereas the average export quota for German manufacturing as a whole is just under half, the German pharmaceutical and medical manufacturing industry generates around two-thirds of its turnover abroad.

In recent years, the pharmaceutical and medical technology industry has focused particularly on such fast-growing emerging economies as China, India and Brazil. Companies in the sector are hoping for strong sales growth there because widespread spending cuts have curtailed the sales opportunities in European markets. However, despite the current economic and political risks, with increasing prosperity in emerging and developing nations and life expectancy growing in the industrialized countries, the prospects for the German pharmaceutical and medical technology industry are good.

Jasmina Kirchhoff

Jasmina Kirchhoff

Senior Economist for the German Pharmaceutical Industry

Tel+49 221 4981-813

Mailkirchhoff@iwkoeln.de

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Jochen Pimpertz

Jochen Pimpertz

Head of the Research Unit Public Finance, Social Security Systems, Income and Wealth Distribution

Tel+49 221 4981-760

Mailpimpertz@iwkoeln.de

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