Page 54 - ITA Journal 3-2018

Technical Papers
Valve World Expo
Helping to heal
The medical sector is proving to be a growth sector. Valves are saving lives – at the same time, manufacturers have to satisfy growing expectations.
Just 60 years ago babies born pre- maturely died of lack of oxygen if their lungs weren’t fully devel- oped. Today, modern lung venti- lators ensure such children are able to survive. Valves are to be thanked, and help heal. Require- ments, however, continue to rise for manufacturers. Only the best high-tech products have a chance inthemarketformedicaltechnol- ogy.
It certainly makes itself paid for valve manufacturers and other technology suppliers to be suc- cessful in the medical technology market. Despite great challenges. According to the newest report from GTAI, the US Commercial Service, and Eurostat/Spectaris,
worldwide production of medical technology in 2015 totalled 310 billion US Dollars. The USA accounted for nearly 38.8 percent of the market, followed by China with a share of 12.2 percent, and Germany with a slice of 9.3 percent. The medical technology sector is seen as a highly inno- vative and propitious growth market, emphasises the German Medical Technology Association BVMed.
400,000 different medical products
Medical technology comprises a broad scope of products and pro- cesses that save lives, help heal, and improve people’s quality of live, declares the BVMed. Ger- many’s Ministry of Health esti- mates there are around 400,000 different medical technology products. Examples range from devices for diagnostics, surgery,
ITAtube Journal No3/October 2018
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