EU should invest more in medical technology to benefit economies

24 March 2005

EU member states should invest more in innovative medical technology and diagnostics, as this will increase efficiency in healthcare and reduce the burden on society of disease and disability. Improving health should become an economic priority.

These were the key messages delivered by Eucomed, the European medical technology industry association, and EDMA, the European in-vitro diagnostics association, at their joint housewarming reception on 9 March.

“Many countries are exploring more innovative, adaptable care models. This includes hospital redesign, the increased use of minimally invasive surgery, homecare and self-tests, for example. The elimination of “silo-budgeting” could further contribute to achieving more efficiency in the allocation of resources. Governments must find new ways to work together and work with the key stakeholders in healthcare, including industry”, said Dr Drago Cerchiari, Eucomed Chairman and CEO Sorin Group.

Quoting former EU Health Commissioner David Byrne, he said, “Health equals wealth. Europe needs a paradigm shift from seeing health expenditure as a cost to seeing effective health policies as an investment. Europe should look at what health puts in to the economy and what illness takes out”.

Dr Cerchiari also expressed concern about the competitiveness of the European medical technology industry, “A competitive industry makes an important contribution to achieving good health by providing the effective therapies and diagnostics that are needed. But the European industry is clearly lagging behind the US industry, both in terms of competitiveness and innovativeness. R&D intensity is much higher in the US, and so is scientific productivity; the US has a leading position in terms of patent and publication counts. This is a major concern for us”.


Eucomed: www.eucomed.org

EDMA: www.edma-ivd.be/

To top

To top