Budapest Declaration: A unified response and collective efforts are key for boosting Europe’s resilience and a competitive medical technology

Budapest Declaration: A unified response and collective efforts are key for boosting Europe's resilience and a competitive medical technology

Posted on 08.11.2024

Brussels, 8 November 2024 - MedTech Europe welcomes the Budapest Declaration and explicit commitment of Heads of State to provide a unified response to strengthen Europe's competitiveness, reinstalling its economic prosperity, sovereignty and global influence. Taking collective efforts in this direction will create a foundation for resilient growth, enabling Europe to lead in sustainable healthcare innovation.

Strategic recognition of medical technology in Europe's Competitiveness Deal

We call on policymakers to explicitly acknowledge the medical technology sector as a strategic pillar for the implementation of the new EU Competitiveness Deal adopted today. The medical technology is a cornerstone of health innovation and also a significant contributor to economic resilience and global competitiveness.

Recommended Pillars for Implementation

Important competitiveness drivers include: fully leveraging the potentials of the EU Single Market, presenting a new Single Market Strategy and comprehensive Industrial Strategy. I launching a simplification revolution byconducting a competitiveness impact assessments of policy proposals and reducing reporting burden by at least 25%, building a more circular economy or further decarbonising and integrating our energy markets . To unlock competitiveness drivers in the medical technology sector more specifically, the following actions should be considered:

• A structural reform of the sector's regulatory system (IVDR/MDR1) to boost efficiency;

• A synchronisation of horizontal regulations, such as those in the sustainability or digital policy spheres, with the sector specific IVDR/MDR to boost legal certainty and overall regulatory consistency;

• An enabling framework with targeted investments in research and innovation (R&I) for medical technology to accelerate life-saving innovations and address future healthcare challenges; and

• Strategic investments in more efficient, sustainable healthcare systems, supported by digital health and medical technologies

These measures will contribute to strengthening Europe's global health and innovation leadership, next to staying course on its sustainability goals, and meeting the evolving needs of patients and healthcare providers across the region.

MedTech Europe remains committed to supporting Europe's goals for a sustainable, competitive, and innovative future. We look forward to collaborative action to reinforce the essential role of the medical technology sector in transforming healthcare systems and driving Europe's sustainable prosperity.