Europe’s healthcare industry has created and nurtured companies worth billions of euros. Most importantly, it’s fostered the opportunities that have gone on to positively impact the health of millions.

Now, industry insiders are eagerly watching for the next era of development. After all, Europe’s already-capable firms now have a global mindset and increasingly powerful technology at their fingertips. Harness both correctly, and Europe could establish itself as a dominant force in the global healthcare industry.

A healthcare ecosystem – no matter where in the world – is as delicate as the health of the citizens it cares for. Academics must produce cutting-edge research, before securing enough support to turn it into a commercial application. (Europe has this part down pat: the region is home to some of the world’s best research institutions and universities, including ETH Zurich,

EPFL, the University of Oxford, and Hannover Medical School.) Then, a business must receive enough investment to turn the idea into reality – and trials don’t come cheap. Each part of the system offers an array of challenges, but each comes with an equal opportunity.

Europe’s extensive medical research is an imposing field. Journal articles from academics from European institutions were cited 1.1 million times in 2022, according to “SCImago Journal & Country Rank”, more than double their U.S. counterparts.

The number of patents filed in Europe is also staggering. The World Intellectual Property Organization data shows that around 13,000 organic chemistry patents were filed in 2022, compared to about 12,000 in the US.

Additionally, the European Medicines Agency (EMA) signed off 771 new medicines between 2015 and 2023, versus 416 approvals by the US Food and Drug Administration.

That’s largely a result of the close relationships between Europe’s world-class universities and healthcare companies, forming a mutually beneficial commercial ecosystem. Just look at Medicon Valley, the life-sciences cluster in the Greater Copenhagen region. It sits near institutions including the University of Copenhagen, the Technical University of Denmark, and Lund University. The area is also home to healthcare giants like Novo Nordisk and Lundbeck. Combined, the two act as a talent magnet, attracting skilled workers to the area.

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