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Austria’s Medical Technology Sector on the Upswing

11. April 2024

In an era featuring rapid technological progress, the medical technology industry in Austria has proven to be a key factor underlying innovation, economic growth, and social progress. Austria is a key player in the field of medical technology, reflected in groundbreaking developments in 3D printing and the country’s strong focus on exports.

The medical technology industry in Austria is growing and consolidating its role as an important component of the healthcare sector and the economy. It has proven to be an important economic factor and generator of employment, featuring 62,000 jobs and an annual value creation of € 5.5 billion. The extensive diversity and innovative strength of the sector is showcased by the approx. 750,000 different medical products, from simple ones to state-of-the-art devices.

At present, particular importance is being attached to the development and application of 3D printing technologies. Companies such as Lithoz, which focus on the 3D printing of bone replacement materials, demonstrate Austria’s leading role in this innovative field. Austria has also gained considerable expertise in medical imaging. Firms such as Piur Imaging, which specialises in diagnostic imaging, stand out thanks to their outstanding achievements. Piur Imaging was founded in Germany, but then decided to relocate to Austria, not least due to the attractive business environment for startups. The company’s strong focus on research and development as well as its international expansion underline the global significance of the medtech companies located in Austria.

Alongside these developments, two important events provide insights and networking opportunities. MedTech Forum 2024, Europe’s largest conference in the healthcare and medical technology sector, will take place from 22-24 May in the Messe Wien Exhibition & Congress Centre in Vienna. The Austrian Life Science Day, organised by Human.technology Styria, will be held on 4 June 2024. It will present innovations in the healthcare sector with a particular focus on health data. These events enable important insights and the possibility to exchange views to collaborate on pressing ahead with developments in the fields of medical technology and life sciences.

The COVID-19 pandemic clearly showed how indispensable the medical device industry is to society. The Austrian medical technology industry showcases its strength and adaptability based on its intensive research activities, ongoing innovation, and international networking. These factors not only contribute to the sector’s long-term success and competitiveness but also make an important contribution to improving healthcare and the quality of life around the world.