Focus on innovative medical aids: BVMed, Earlybird, High-Tech Gründerfonds, and BIOCOM AG publish „MedTech Radar 8″
July 6, 2017
The medical aids market in Germany is worth billions, and will continue to grow – fuelled by the demographic change. Together with the possibilities of digitalisation and technological innovation such as 3D-printing, this market enables individual solutions as well as completely novel business models. Nevertheless, due to budgetary constrictions as well as strict legal regulations it is particularly challenging for young companies to establish their solutions in the market. Current leading developments and trends in the medical aids market as well as the most promising business models will be presented in the 8th issue of the joint media service “MedTech Radar” from the German Medical Technology Association (BVMed), Earlybird Venture Capital, High-Tech Gründerfonds (HTGF), and BIOCOM AG. The current MedTech Radar is available for download in German or English here.
The medical aids market is currently changing very fast. On the one hand, new technologies and start-ups increase the pressure for established companies to innovate; on the other hand, challenging legal frameworks are impeding ongoing and future proceedings as well as the market entry of new companies. And yet, the market is very profitable: There are currently 29,000 products listed in the medical aids index of the National Association of Statutory Health Insurance Funds (GVK) which shows the huge diversity. Medical aids include technical products for handicapped or sick people, for instance hearing aids or glasses, but also wheel chairs, prostheses, devices related to stoma or to people suffering from incontinence. In 2016 alone, statutory health insurances have spent an estimated €7.8 billion for medical aids.
The “MedTech Radar” provides necessary orientation for this complex area: An overview of the market demonstrates the diversity of products and its participants, and outlines the economic potential of the German market. Moreover, four young companies provide insights into their business strategies with innovative technologies for prostheses made by 3D-printing, electro-therapeutic strategies to combat incontinence or pain, as well as highly advanced wheel chairs with innovative technologies. The founders and CEOs explain the intricacies of the medical aids market and how products can be established even without being reimbursed by health insurances.
“The companies Desino, Mecuris, and Bomedus represent the enormous creativity of young entrepreneurs in Germany that lead to truly innovative solutions for the medical aids market. Since the demand is as huge as the possibilities, I am certain we will witness even more upcoming start-ups in the near future,” says Dr. Michael Brandkamp, CEO of High-Tech Gründerfonds.
“In particular, applications that can be used by the patients themselves with only minor assistance at home will gain in significance,” adds Earlybird-Partner Thom Rasche. “Our portfolio company Atlantic Therapeutic represents this trend.”
“The current issue of the MedTech Radar puts a spotlight on an exciting market,” says Dr. Boris Mannhardt, CEO of BIOCOM AG. „The herein presented start-ups demonstrate how to push innovation and gain competences that will also be demanded from established companies in the long run – and how to do so despite the difficulties to enter that market.“
“The new German law called ‘Heil- und Hilfsmittelversorgungsgesetz’ was finalised in the spring this year – after plenty of preceding discussions”, says Joachim M. Schmitt, CEO and board member of BVMed. “The entire medical technological sector hopes that the introduction of innovative medical aids into the market will be much faster with the new law.”
About the publishers:
The High-Tech Gründerfonds invests risk capital in young technology companies that implement promising research results into business strategies.
Earlybird Venture Capital is one of the most successful European venture capital investors and currently manages over 700 million euros of capital for an international investor’s basis.
The German Medical Technology Association (BVMed) is an industry association that represents over 230 industrial and commercial companies in the medical technology sector.
As an information specialist, BIOCOM AG has accompanied the life sciences with journals, websites and books for more than 30 years. The magazine medtech-zwo.de and the news portal report on start-ups, deals and financings related to the medtech sectors of Germany, Austria and Switzerland.