Finnish health technology exports continue to grow strongly

Innokas Medical Business Blog

Healthcare technology is one of the largest high-tech export segments of Finnish industry, and the industry continues to grow strongly. According to the latest export report published by Healthtech Finland, over the last two decades the value of Finnish health technology exports have increased five-fold.

 

Healthcare technology is still one of the fastest growing  high-tech segments of Finnish industry. The exports of the Finnish health technology delivered a new record in 2017 as the value of Finland’s exports of health technology products rose to €2.2 billion, an increase of 5.3% over the prior year. According to the survey, even up to 80 % of healthcare products manufactured in Finland are exported.

 

“In healthcare technology, Finland has achieved long-term export growth while generating significant, and growing, trade surpluses. Over the last two decades, the value of exports have increased more than five-fold and the net trade surplus has increased ten-fold”, tells Saara Hassinen, Healthtech Finland’s Managing Director.

 

When comparing Finnish health technology growth to an international level, it can be said that Finns are keeping up well with the global competition.

 

”For comparison, the global market for medical technology is forecasted to be growing at 5.1%. This is forecasted by EvaluateMedTech in 2017. Thus, we can proudly state that Finnish health technology has kept up very well with the international growth rate”, Hassinen continues.

 

The strongest growth was seen in the traditionally strong Medical Equipment segment covering up to 71 percent of total Finnish health technology exports. The second biggest contributor was the In Vitro Diagnostics segment, comprising both diagnostic reagents and equipment. In 2017, exports in the In Vitro Diagnostics segment rose to €570 million.

 

Finland's health technology industry manufactures and develops the clear majority of its products in Finland. Nowadays the industry directly employs over 12,000 people in Finland.

 

For more information about the report and numbers, please contact:

Saara Hassinen, Managing Director, Healthtech Finland

+358405311661

saara.hassinen@teknologiateollisuus.fi

 

Source: Healthtech Finland

Picture of Elina Rautiola
Written by Elina Rautiola
Head of Marketing and Communications
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