Finnish Health Tech Export Sets New Record
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Finland’s health technology industry continues to grow as export is strengthening this year, setting a new record for the country. The industry’s export value had an increase of 6.6 per cent from 2014 to 2015, where it was able to generate 1.93 billion euros last year up to the first quarter of 2016. Similarly, the trade in health technology also generated a positive trading value of 896 million euros for the same period.
The sector with the greatest contribution to the aforementioned record in health tech was seen in vitro diagnostics (16 per cent), which, among others, examines tissues or bodily fluid. The sector exceeded 500 million euros for the first time in history.
For the last 20 years, Finland’s health tech exports have been seen increasing five-fold, while the balance of trade in the industry has risen ten-fold.
The health technology sector has now become the largest export in a fledgling tech scene in the country.
Health tech is now being utilized via mobile devices, as well as video games as they have been found to help people of different ages in developing certain skills. Research by the American Psychological Association (APA) revealed that children exposed to video games develop problem-solving skills, while adolescent players tend to improve their school grades. It has also been found to be a relaxing stimulant to older demographics individuals.
Surprisingly, Finland has a rich tradition when it comes to games, particularly card games. Games like Spin Genie and its list of award-winning titles are now popular around the world. According to one review, video games may provide learning, health and social benefits. Card games have been part of the country’s pop culture since the 14th century. Today, card games can also be accessed via mobile devices through leading platforms. Various social gaming sites offer a great way for people to meet other gamers over likeminded interests and indulge in their favourite TV and film-themed games such as the latest Games of Thrones 15 Lines slot title.
Of course, mobile technology has also been launched with its own health tracking and managing features that are either built-in or accessible via a paired app.
Although health technology is not only limited to mobile devices, as different services that help enhance medical processes have been introduced over the years. Many health tech startups from Finland have also been seen by experts to show great potential, namely Beddit and their sleep monitor device, Cosmethics and their app that scans toxic cosmetics in products, Pulse On with its smartwatch that comes with a unique optical heart rate sensor, and You-app that give users daily micro-actions based on experts’ advice.
Even a Finnish health spa has been seen to taken the health tech industry by storm this year. The country’s health tech industry is developing rapidly as a vast majority of products are manufactured here and exported throughout Europe and the rest of the world. Today, the industry directly employs more than 10,000 people.