According to the latest export report published by Healthtech Finland, the exports of the Finnish health technology reached again a new record in 2020.
Healthcare technology is still one of the fastest growing high-tech segments of Finnish industry. The exports of the Finnish health technology reached a new record again in 2020 as the value of Finland’s exports of health technology products rose to €2.43 billion, an increase of 0,5% over 2019.
"When comparing the growth rate to earlier years, it can be said that the corona pandemic has impacted on the growth rate reached last year. However, the growth of some specific segments has been partly strong. Over the past 20 years, health technology has brought nearly €14 billion to Finland's foreign trade, bringing a lot of new working opportunities in Finland", tells Saara Hassinen, working as Managing Director at Healthtech Finland.
The corona pandemic had an impact especially on the Medical Equipment segment which decreased 10,3 percent to €1,5 billion euros. At the same time, very strong growth was seen in the In Vitro Diagnostics segment, comprising both diagnostic reagents and equipment, as the exports in the In Vitro Diagnostics segment rose even to €830 million by 27 percent. The United States is still the largest importer of Finnish healthcare technology, but the importance and role of Europe is increasing year after year.
"In 2019, health technology exports to Europe increased from €871 million to €1,028 million, covering up to 42 percent of total Finnish health technology exports. The largest importing countries in Europe are the United Kingdom, Germany, France, Italy, Sweden and Russia”, Hassinen explains.
The growth of the industry has continued for twenty years already. Even if most of the healthcare products manufactured in Finland are exported, the companies still have the desire and need to develop their solutions 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
