This thesis focuses in its practical part on the industry of medical technology, an important sector of the high-tech industry. This branch is an innovative, multifaceted and still growth oriented global industry. Despite the economic and financial crisis this market appears to be rather independent from cyclical fluctuations and from market crises. Due to the actual demographic development, the demand for innovative and technological medical products will rise in the future. The main causes are the increased life expectancy, the extended duration of diseases and the rising need in care resulting from the increasing average age of society. (AWO, 2009)
These factors were decisive for the decision to focus on the sector of medical technology. When analyzing the market situation of medical technology in Austria and Hungary, it quickly turned out that in both markets important born globals are active and successful. To name only a few of such enterprises in Austria: Roche Diagnostics GmbH which focuses on critical care medicine, Philips Ltd. developing Speech Recognition Systems, Greiner Bio-One International AG specializing on preanalytic technology, Akatech GmbH which manufactures for instance optoelectronic full blood analysis devices or Afreeze GmbH that produces cryablation catheters. All these
companies became product specialists in a global niche and their key to success relies very much on internationalization.
Further it is interesting that all mentioned Austrian medical technology companies offer a wide scope of solutions. These include installation of the product or system, consulting and services. They rely on their networks and cooperation with universities.
In Austria several medical technology clusters exist such as Ecoplus (Lower Austria), Human Technology Styria, Life Science Austria Vienna Region, Tyrolean Future Foundation and Life Science Cluster, and Upper Austrian Technology and Marketing Company (TMG & Health Technology Cluster). In 2008 about 800 enterprises in Austria offered consulting, engineering or other services in this field of medical technology. (LISA, 2008)
Compared to other markets like Germany, Austria at the moment seems to be far behind looking at the quantity side. In the sector of medical engineering about 110,000 people are employed in Germany, in Austria just around 6,000.
Austrian companies sparsely use the chance of being part in one of the world’s most interesting growth markets, with 1.4 % of European’s total employees dedicated to this industry. At the moment the global market volume of medical technology is around 200 billion euro. Hence the medical engineering market is an attractive and growing future industry. Some experts are convinced that Austria has the potential to become an important player in this field of industry. According to these experts Austrian companies are used to fulfill high quality standards despite the higher production output levels. These characteristics can be observed in the automotive supply industry in which Austrian companies are very important. (Bauer et al., 2010)
The Hungarian medical technology industry is comparable to the Austrian sector. About 4,250 employees are active in the field of medical technology, 1.0% of total employees in the European Union. According to the Eucomed Member Association about 434,560 employees are engaged in the European Union medical technology up to now.
(Eucomed, 2007) It is obvious that both markets, Austria and Hungary, are rather small players in this global industry.
Compared to Austria in Hungary two important clusters exist, the so-called MediCluster, which is specialized in medical technology, and the Budapest MediPólus Cluster, which focuses on Life Sciences. The former is based on a network of profit and non-profit oriented enterprises and institutions. Further it includes Hungarian key players in the medical technology sector, all owned by Hungarian players with the aim to offer high-quality medical solutions. Budapest MediPólus Cluster in an important network in the life science sector formed in 2008 with domestic and international members active in the health care sector. (ITDH, 2010)
Besides these clusters some important associations exist like the Association of Medical Technology Manufacturers and Suppliers (OSZ). Members of this association are Hungarian and international organizations, mainly the top fifty manufacturers and suppliers in this sector. (IDTH, 2010).
Some economically successful enterprises are for instance the Medicor Group, which manufactures medical equipment, Innomed Medical Zrt., which focuses on the research of cardiology and defibrillator technology. 77 Elektronika Kft. produces reflexive photometers and reagents for measuring blood sugar for the home and professional use.
(IDTH, 2010, p. 4f)
The fact that the medical technology sector is rather independent from financial and economic crises is valid for Hungarian medical companies as well. According to IDTH (2010) enterprises in the medical technology sector achieved an increase of more than ten percent in revenue during the last five years. To sum up, both countries have rather small players comparing it to the global medical technology industry.
Despite this deficit both countries have important national and international companies that develop and manufacture innovative medical solutions. But considered from a global perspective are rather lagging behind.
Experts forecast a huge growth potential for this industry, as a consequence profiting from this increase should be the main interest for both markets. One further reason for focusing on companies in the medical technology in this thesis is the huge prospect of sales potential which has not been exploited yet.
6.3. Case Study 1: Anagnostics Bioanalysis GmbH (Austria)