The health industry in Hungary is growing – News Detail

ISTANBUL (IGFA) – Hungarian healthcare industry; It covers many fields such as pharmaceutical industry, medical device and equipment manufacturing, herbal medicine manufacturing, biotechnology, genetics and bionics. Meanwhile, with the state support of the Digital Health Development Strategy, which was put into practice in 2017, important developments in the field of health informatics continue, affecting almost all sectors. Hungary is full of thermal and healing springs and has excellent geothermal conditions. The country benefits from its various spas, as well as from the experience and knowledge accumulated over the centuries, which has led to many commercial developments in the field of balneology.

International markets are showing a growing interest in Hungarian developments in the field of healthcare. Exports in the healthcare sector increased by 32.8% between 2017 and 2021. In 2019, Hungarian companies exported medical devices worth 1.5 billion euros. A quarter of them were sold in markets outside the EU. This sector accounts for 9% of Hungary’s exports outside the Union. The Hungarian pharmaceutical industry is quite strong and ranks 20th in the world in terms of exports in this sector. Hungarian pharmaceutical production accounts for 6% of Hungary’s total GDP and 85% of exported products. The positive foreign trade balance of 27 million euros per employee exceeds even the automotive sector.