Finnish healthcare technology has global appeal

Submitted by nordicchamber on Fri, 04/26/2013 - 11:26

Planmeca Group, with a significant Finnish ownership, manufactures high tech dental equipment and is one of the leaders of the healthcare technology sector.

Demand for Finnish healthcare technology is booming as exports reach record levels and growth prospects look good. In 2012, the sector’s industry exports rose 22.8 per cent on the previous year, equalling EUR 1.65 billion, reveal the latest published figures.

Geographically, the sector’s exports to the US, Russia and Asia saw the largest growth, with some growth in Europe as well.

Healthcare technology now contributes 38 per cent of Finland’s high tech exports and has become the second largest high tech export sector after telecommunications.

The sector’s balance of trade – the difference between exports and imports – was extremely positive and rose last year to EUR 735 million, which includes an increase of 44 per cent from the previous year. The sector thus presents an extremely positive exception to the general development of the national economy.

-— Healthcare technology represents everything that we want business that exists in Finland, is created in Finland and comes to Finland to have, namely growth, a global reach, innovation, top expertise and stability, says Managing Director Terhi Kajaste from the Finnish Healthcare Technology Association.

— The field is exceptional also because products can be profitably manufactured and assembled in Finland. Healthcare technology already employs more than 10,000 people in this country.

All of the field’s sub-sectors are represented in Finland. Electrical healthcare equipment and imaging equipment showed especially strong growth in 2012.

Finland’s healthcare industry is divided up into a few global major corporations as well as numerous small and medium-sized growth companies. The largest operators are often Finnish subsidiaries of international corporations. The companies in the sector see the future outlook as positive as they expect the growth in the markets to continue.

Source: www.goodnewsfinland.com, 25 April 2013