Medical technology is one of the most innovative sectors in a time that is not exactly lacking in technological developments. Austria occupies an internationally recognised position in this field. Around 750,000 medical products originate from there and with 62,000 jobs and an annual added value of 5.5 billion euros, the sector is a significant economic factor.
According to a global estimate by Statistics Austria, the research ratio in Austria will rise to 3.34% in 2024, making it the third-highest research ratio in the EU. At 20.5%, the life sciences sector has one of the highest research quotas.
A major advantage of Austria is the globally recognised excellent quality of its domestic research institutions and their close cooperation and networking with universities, companies and medical practice. There is intense global competition for the best ideas and skilled labour. Austria has been able to assert itself here, as it is not only attractive for companies, but also for researchers themselves due to the quality of life there.
For example, the Institute of Biomedical Electronics at TU Wien is investigating the coupling of electronic components (sensors, stimulators) with biological matter (cells, tissue, humans) in order to find improved strategies for curing diseases. As technology and engineering are playing a decisive role in more and more medical fields, the Vienna University of Technology (TU Wien) and the Medical University of Vienna (MedUni Vienna) are promoting this development with their inter-university cooperation centre for “Technology in Medicine” (Vienna Center for Engineering in Medicine - ViCEM). The aim is to achieve top-level international research and teaching.
Strong funding landscape
Another major location advantage: Companies can apply for direct funding from the Austrian Research Promotion Agency (FFG) for their research project. For costs not covered by this funding, companies can claim a research tax credit of 14%. This applies both to in-house research and development in Austria and to contract research.
Funding programmes such as the Austrian Life Sciences Programme support research and development projects as well as clinical studies in the life sciences sector. With its “Seedfinancing - Deep Tech” funding module, Austria's development bank aws (Austria Wirtschaftsservice Gesellschaft mbH) is targeting deep tech start-ups whose product idea is based on a significant international technological advantage. The aim is to enable sustainable growth for companies in the pre-foundation phase or up to 6 months after registration of the company in the commercial register.
Further support comes from two working groups: AUSTROMED represents the interests of companies from the medical device industry and is committed to creating the best possible legal and economic conditions. LISAvienna is a cluster platform for life sciences, connecting companies from the biotechnology, pharmaceutical and medtech sectors, that are developing new products, services and processes in Vienna with development partners and lead customers.
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Successful MedTech companies
The majority of MedTech companies in Austria are small and medium-sized companies, but there are also industry leaders such as Ottobock, B. Braun, Fresenius and GE HealthCare.
- Ottobock has had a large site in Austria since 1969, making Vienna the most important research and development location for mechatronic products. The orthosis and prosthesis manufacturer uses artificial intelligence to convert the signals that the nerves remaining at the amputation site send to the muscles into movement commands for the prosthesis.
- B. Braun is a family business with a total of 63,000 employees, over 250 of whom work in Austria. Braun aims to use technologies such as robotics, artificial intelligence and automation to make its own processes more efficient.
- Fresenius Kabi has sites in Graz, Werndorf, Grambach and Linz in Austria. As the demand for biopharmaceutical drugs used in oncology and autoimmune diseases is increasing worldwide, Biosimilars are an important field of activity for Fresenius. This type of generic drug can help to reduce treatment costs and can thus relieve the burden on healthcare systems.
- GE HealthCare is the global market leader in 3D/4D ultrasound for gynaecology and obstetrics. The global development and core competence centre for three- and four-dimensional ultrasound is located at the Zipf site in Upper Austria.
Treetop Medical on the other hand, founded in 2019, is a digital healthcare startup with offices in Zurich and Vienna. Treetop focuses on supporting doctors in their day-to-day clinical work with digital solutions and has developed a cloud-based platform to create and share medical treatment plans for all areas of illness. Products are developed in collaboration with doctors, software developers and academic partners such as MedUni Vienna. “The cooperation with top-class universities and research units in Austria is outstanding, in addition to the excellent framework conditions for our international team of medical professionals and software developers”, says Michael Roiss, founder and CEO of Treetop. “This is exactly the dynamic ecosystem and life science location we need in order to be successful.”
Last but not least, Piur Imaging, a specialist in the field of diagnostic imaging, was founded in Germany in 2014, but then decided to relocate to Vienna due to the attractive conditions. The business idea is the cost-effective upgrading of existing medical devices to AI-controlled, tomographic 3D ultrasound solutions, thus enabling completely new and more efficient workflows.
Consulting by ABA – free of charge
The Austrian Business Agency supports companies free of charge in all matters relating to location, relocation and the search for skilled labour, making it your partner and service provider for expansion into Austria and beyond. We put you in touch with research institutes, funding organisations and other key players, help you find laboratory space and provide information on all topics that contribute to a successful start in Austria.
Contact:
Austrian Business Agency (ABA)
Phone: +43 1 588 58-0
E-mail: office@aba.gv.at
Come and meet ABA at key events:
- the MedTech Forum 2024, Europe's largest conference for the healthcare and medical technology industry: Messe Wien from 22 to 24 May
- the Austrian Life Science Day, about innovations in the healthcare sector with a focus on healthcare data: Graz on 4 June 2024
