More than 1,340 companies in the French medical device sector !

Lyslie Legendre - 01/08/17

Did you know that there are more than 1,340 companies in the French medical device sector, generating revenues of €28 billion?

Did you know that France is the fifth largest market in the world for human medicines, and the second largest in Europe !

In a country reputed for its food and lifestyle, it’s not surprising that health is serious business that gets a lot of attention.

France has a community-based healthcare system consisting of 350,000 healthcare professionals, 3,111 hospitals (1,416 public sector, 683 privately run non-profit hospitals and 1,012 private clinics), France is ranked fourth among OECD countries for the number of hospitals per inhabitant and is the top OECD country for access to healthcare. France is also ranked fourth in the world for medical facilities and technology, covering products and equipment in a wide field ranging from syringes and in-vitro diagnostics to MRI scanners. There are over 1,340 medical equipment and facilities providers in France earning €28 billion in revenues. Over half these providers are also engaged in R&D. Moreover, 92% are SMEs, helping France to export medical products worth €8 billion per year. For example, Alcis, based in Besançon (Bourgogne-Franche-Comté region), may not be as well known as the Vauban citadel, but the heart valves and catheters the firm produces are sold throughout the world. Alcis employs 25 people and earns over half its US$2.7 million revenue abroad in the Chinese, American, Canadian and Brazilian markets.

France is the fifth largest world market and the second largest European market for medicines. In 2015, revenues from pharmaceutical products exceeded €53 billion, nearly half of which came from exports. France’s dynamic and innovative pharmaceutical industry can boast about one of the biggest R&D spends in the French private sector, accounting for 9.8% of revenues of all pharmaceutical companies. France has every justification to be proud of Sanofi, a French company ranked third in the world that spends €5.2 billion on R&D.

People say the French are ageing, and they’re right: the number of people aged 60 and over is due to rise from 15 million today to 20 million by 2030, while the number of people over 85 is expected to rise from 1.4 million to 4.8 million by 2050… all of which promises to be a boon for France’s burgeoning Silver Economy! France has dynamic companies fiercely competing to come up with innovative solutions for new customers in this market worth €93 billion in 2013 that is expected to hit €130 billion by 2020 (up 5% per year).


French creativity has also been noticed by the reputed MIT Technology Review, which showcases the innovative capacity of up-and-coming entrepreneurs, scientists and researchers in a variety of sectors every year. Ten French innovators were singled out in 2016, three of them in the Health Tech category, including synthetic biologist Xavier Duportet, winner of the 2013 “Worldwide Innovation Challenge”. At his Biotech PhageX startup, he is working on smart antibiotics for microbiome precision editing (eradicating only antibiotic-resistant bacteria while leaving useful bacteria untouched). If he achieves his goal, he will have found the answer to the huge antibiotic resistance issue the World Health Organization says is the most serious threat of the 21st century.

 

So yes, the French health industry is in great shape, best epitomized perhaps by the cutting-edge French medical innovation that created the world’s first artificial heart designed by Carmat: proof, if any were needed, that tomorrow’s healthcare is already a reality in France today!

Source : Creative France

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