Innovation and Growth in Swedish Medtech
Written by guest blogger Karl Hultén, Schwartz Stockholm
An extensive analysis, based on a recent survey, confirms that the Swedish medtech industry is highly innovative and evolving. The export share of the industry is high, 86 percent, and the U.S. is seen as the most important market.
Within the next three years, the number of new products is expected to rise by 24 percent. Most companies in the survey are involved in diagnostics, cardiovascular therapies and orthopedics. The survey was conducted by the research firm Synergus at the request of Swedish Medtech, Invest in Sweden Agency, SwedenBIO, Innovationsbron and VINNOVA.
In August, 2009, 96 Swedish medtech companies responded to questions about business prospects, corporate structure and number of products and projects to be developed. The answers indicate that the industry is gearing up for international growth.
Companies in the survey estimate a 24 percent increase in number of products on the market by 2012. Smaller sized companies tend to be more involved in the development of new products than larger companies. A majority of the participating companies regard the development of international sales as the biggest challenge.
Clinical evidence is essential for 74 percent of the companies and the number of clinical trials is expected to grow dramatically over the next three years.
The Swedish and U.S. markets have a long history of co-development and synergy effects. Over the coming years this bond is expected to grow even stronger.
Companies to watch:
– Making medical devices deadly, for bacteria
Antibiotic resistance is a growing threat. In Europe alone at least 25.000 people die each year because of antibiotic resistant bacterial infections. On February 9, 2010 Göran Hägglund, Swedish minister of Health and Social Affairs, held a press conference in which he said that “Every year 3 000 people die unnecessarily in Swedish health care, due to lacking routines.” Most of these casualties are caused by hospital acquired infections. Bactiguard is a clinically proven product for preventing these types of infections. It consists of a thin metal alloy which is antimicrobial and biocompatible. This coating can be applied to any medical device. This is a Swedish invention that unlike most other medical devices also is produced in Sweden. It is a very interesting product with a lot of potential because of the great challenges that lie ahead in working against the spread of multiresistant bacterial infections.
– Challenging big pharma
There is always a risk of contaminating wounds in the operating room. Dust can carry with it multi-resistant bacteria that sometimes cause lethal infections. Preventing infections could lower readmission and mortality rates and save hospitals large expenses. Airsonett has developed a unique technology for infection control in operation rooms (Opragon) based on clean room technology. The company also applies the technology in prophylactic treatment of allergic asthma (Protexo). What’s interesting and unique is that Airsonett now challenges the big pharmaceutical giants. Their products could compete with long term treatment of asthma (inhaler), which is a big deal. The company has its roots in the clean room industry (AirSon AB) but has now moved into these new and exciting fields.
Posted by Kristina Ebenius on February 18, 2010 at 2:26 PM
