The medical technology sector appears to be proactively preparing for a potential escalation of trade tensions, leading to increased stockpiling across Europe.
Recent data released by the German Federal Statistical Office indicates a 15% rise in Germany’s imports of medical technology products during the first quarter of the year, compared to the same period last year. Notably, imports of medical technology devices from the United States saw a steeper increase, surging by 42% year-on-year.
Jörg Mayer, Managing Director of Spectaris, the German industry association for optics, photonics, analysis and medical technology, suggests this uptick is likely driven by US medical technology companies bolstering inventory levels within Germany and proactively supplying their customers. This strategic move aims to mitigate potential disruptions arising from an evolving trade landscape.
German medical technology firms are currently impacted by US tariffs of 10% introduced in April. The possibility of US President Donald Trump raising these tariffs to 30%, coupled with potential retaliatory measures from the European Union, raises further concerns for the sector and could affect medical technology products.
Mr. Mayer expressed hope for a de-escalation of the situation through ongoing negotiations between the EU and the US administration. He emphasized the importance of maintaining a measured approach and avoiding further escalation in the trade dispute.
