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MedTech
Support for Investors:
The Investment Support Department
e-mail: invest@paih.gov.pl
Large, fast-growing domestic market
- Large, aging population - 38.3m
- Largest CEE medical device market - USD 11bn, forecast to reach USD 13.8bn in 2024
- Growing private healthcare sector - 7% CAGR in years 2016-2021
- Highest health expenditure in CEE - USD 38.2bn
- Market growing at 10.1% CAGR 2019-2024 in USD terms - 2x the Global CAGR
- 6,2% of GDP spent on healthcare going up to 7% by 2027 according to the Government’s policy
Attractive MedTech hub
- EU membership
EU member since 2004 with strong links to eurozone, ensuring same quality standards - Most resilient to COVID crisis in the EU
Polish economy reported the smallest drop in GDP dynamics among the EU countries - Fast exports growth
Growing MedTech production, with exports increasing by 18.9% in 2018 - 4th largest talent pool in EU
Availability of highly skilled employees, large and well educated labor force - Fast-growing domestic companies
Revenues of domestic companies increased by 30% between 2014 and 2018 - >80% of train transports between China-EU go through Poland
Logistics bridge between East and West, proximity to customers
Sources: OECD statistics; Press research; Puls Biznesu and Spotdata Report “Polish MedTech - chances and illustions”; Bloomberg; InfoCredit
Innovation booster
- Regulations in line with EU legislation
- Governmental incentives for R&D
- Large MedTech student pool
- Big testing base - 11 million patients a year
- High growth of R&D centers, +300 in past few years
- Synergies with strong IT sector
"Poland’s overlapping business hours with all of our R&D centres around the world definitely facilitates flawless global operations."
Frank Konings, COO, Johnson & Johnson
Lively Polish MedTech environment
- CRO R&D
Total CRO: 50
Paraxel, ICON, Novartis, PRA, PSI, Roche, Pfizer - Startups
Around 100 MedTech startups
Among others - StethoMe, Pregnabit, MedApp - Universities
+ 64 thousand medical students each year
Dedicated MedTech studies: 3D Technologies in Medicine, Biocybernetics, Bioengineering, Neuroinformatics, IT in Medicine&Pharma