Statistics also confirm the high innovativeness of these sectors. 598 medtech applications from Switzerland were submitted to the European Patent Office (EPO) in 2016 , around 11 percent more than in the previous year, making medical technology the second-most active technological field in the country. Compared to other European countries, Switzerland ranks third behind Germany and the Netherlands.
Its creative dynamism can also be seen in the fact that new developments are introduced to the market in rapid succession. The Swiss medtech sector’s pace of innovation remains extraordinary: In 2014, 44 percent of the product portfolios were less than five years old.
Research and industry work hand in hand
The sector’s innovativeness continues to benefit from Switzerland’s high level of education and research. Depending on their size and age, Swiss medtech manufacturers spend up to 30 percent of their annual revenue on research and development, according to the SMTI Report 2016. Proportionately, the smallest companies invest the most.
New products are mainly developed internally, as well as through partnerships, especially with universities. Large companies complement their in-house development by purchasing ideas, prototypes and finished products. Many companies engage in partnership projects with industry actors and universities.
About Swiss Medtech
SWISS MEDTECH was formed on June 12, 2017 through the merger of the two national medtech organizations, FASMED and Medical Cluster. The new association represents the interests of Swiss medical technology. The association’s goal is to maintain the latter’s competitiveness and innovativeness and strengthen it in the home market. www.swiss-medtech.ch
Would you like to learn more about Switzerland as a medtech hub? Download our fact sheet here.
Source: Swiss Medtech press release