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The New, Stringent MDR and IVDR Regulations: Viewing this Change as an Opportunity
1Journalist science and technology.
Chimia
|June 27, 2018
Summary
The healthcare and life science industry is a rapidly expanding, multi-billion dollar sector. Its profitability has surged, making it a key Swiss export, with many products incorporating biotechnology.
Area of Science:
- Healthcare and Life Sciences
- Biotechnology
- Pharmaceuticals and Medtech
Background:
- The global healthcare and life science sector represents a significant and expanding multi-billion dollar industry.
- In 2016, companies within this sector achieved USD 140 billion in sales.
- Profitability within the sector more than doubled between 2010 and 2016.
Purpose of the Study:
- To highlight the economic significance of the healthcare and life science sector.
- To underscore the growth in sales and profitability within the sector.
- To identify key sub-sectors driving economic performance and export strength.
Main Methods:
- Analysis of sales and profitability data from 2010 to 2016.
- Identification of major contributing sectors: pharmaceutical, diagnostics, medtech, and chemical.
- Assessment of the role of biotechnology in approved products.
Main Results:
- The sector's sales reached USD 140 billion in 2016.
- Profitability more than doubled from 2010 to 2016.
- Pharmaceutical, diagnostics, medtech, and chemical sectors are Switzerland's leading export industries.
Conclusions:
- The healthcare and life science sector demonstrates robust economic growth and increasing profitability.
- Biotechnology plays a crucial role, with many approved medications and diagnostics incorporating its elements.
- These sectors are vital to Switzerland's export economy.
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