Date(s) - 05/25/2021
9:00 am - 10:00 am
Business Opportunities in Healthcare:
Germany, Israel, The Netherlands, and The United Kingdom
Tuesday, May 25, 2021
9:00 am – 10:00 am
Pennsylvania’s Authorized Trade Representatives will showcase the many opportunities in Healthcare available in Germany, Israel, Netherlands and the United Kingdom.
Europe‘s strongest economy offers various opportunities in the healthcare and medical technology sector for Pennsylvania companies. While achieving almost universal health insurance the private expenses for healthcare are also growing especially in regards to an aging society creating a need for special treatment options and medical aid. Within the EU, Germany is not only the largest healthcare market but also the largest importer as well as exporter of medical devices. Main drivers for the market are digitalization acts and funding for digital solutions in hospitals and clinics.
Israel (and the Middle East)
The effects of COVID-19 notwithstanding, MENA is fast becoming one of the priority healthcare markets, one expected to grow by 11.7% to reach $243.6 billion by 2023. For example, private healthcare in the Gulf Cooperation Countries (GCC) region was forecast to expand 8.7% annually to reach $94 billion in 2021. Saudi Arabia and the UAE alone represent more than two thirds of this market. Healthcare services account for 79% of the healthcare industry and this is the fastest growing segment in UAE. On the other hand, medical devices segment, the smallest, is witnessing double-digit growth in Oman, Qatar, and Kuwait.
The healthcare services market is undergoing structural shifts to adapt to the demands of health-conscious and digital savvy population. Although still at a nascent stage, telemedicine, home healthcare and long-term care are outperforming traditional health service providers such as hospitals and clinics. Despite Israel’s leading position in these fields, there is always room for new products and technological cooperation. Many factors contribute to demand for digital health, Artificial Intelligence, and robotics to provide innovations. The market for medical technologies in the region is expected to reach $31.6 billion by 2025.
Benelux hospitals discover new technologies to deliver more care in patient’s homes. The COVID-19 crisis has spurred things on for technology-assisted remote hospital care in the Benelux. New medical technologies enable hospitals to deliver care in or near the patient’s home. Hospital patients can use apps and connected devices to manage their health and communicate with medical professionals, while doctors and nurses can monitor patients remotely. It is estimated that in 2030 almost half of the chronic care (or on average 20% of the total hospital turnover) can be provided outside of the hospital. Although this sounds promising, there are still a number of barriers that the sector needs to break through before this can become a reality. We will highlight what role can Pennsylvania companies fill and how can they work together with the Benelux healthcare sector to create a breakthrough.
The United Kingdom
Internationally, the UK life and health sciences sector are unique. UK researchers have been at the forefront of the COVID-19 vaccination programmes, and the organised and interconnected facilities across the region have come together, harnessing local expertise to solve global problems. This brief presentation aims to provide an overview of the opportunity in Pharma, Medtech, and emerging supporting technologies in Data Analytics and Cyber Security.