MUNICH (dpa-AFX) - Faced with numerous challenges, the German medical technology industry is skeptical about the current year. "Many companies are reporting massive cost increases that will now be felt in full in the current year, an increasing shortage of skilled workers, as well as ongoing production hindrances due to supply bottlenecks, especially in the area of electronic components," Martin Leonhard, chairman of medical technology at industry association Spectaris, said Monday. Nevertheless, he expects sales to continue to rise in 2023.

Last year had turned out somewhat better than expected in the fall thanks to a relatively good final quarter: Overall, the industry increased its sales by 5.4 percent to 38.4 billion euros. A good two thirds of this was generated abroad, where growth was also somewhat higher. "Although sales are rising, the earnings situation of many medical technology companies is falling, particularly due to increased costs in all areas," Leonhard said.

In principle, there is still potential for the industry, Leonhard emphasized. "The order books of many manufacturers were well filled at the beginning of the year, also due to delivery delays." But the situation is becoming "increasingly critical."/ruc/DP/zb