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Industry Sectors in Iceland - Medical, Cosmetic, Health Technology in Iceland
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Medical, Cosmetic,Health Technology in Iceland

Innovation is the driving force behind the Icelandic medical and health technology sector. A highly educated workforce with an international outlook, combined with an entrepreneurial environment and a sophisticated health-care system, makes Iceland an ideal place for developing and testing leading health technology innovations.

Medical Products from Iceland
Turnover in medicinal and medical products has been growing over the years and in 2003, the total value of export of medicinal and medical products was ISK 13,500 million. Icelandic firms are now world leaders in prosthetic devices and important exporters of diagnostic technology and medical software. These firms have pioneered medical software for doctors and pharmacies to manage and dispense prescription drugs. Diagnostic technology to assess and measure sleep disorders, respiratory problems and geriatric symptoms has also been developed in Iceland.

Many of the growth leaders in Iceland today are specialized small or medium-size enterprises with expert staff targeting ultra-specialized technology niches where, in many cases, they rank with world leaders in their fields. In Iceland there are more than 700 highly-qualified and well-educated people working in the field. International producers, marketing companies or distributors have increasingly been investing in Icelandic high-tech companies, and several of Iceland's most progressive ventures have announced plans to list their shares on overseas stock markets.

Icelandic companies have already proved themselves able to compete successfully at the international level in the health and biotech sector, taking advantage of the ease with which specialist education and/or research can be applied in the real world in Iceland's close-knit society.

In several important fields, Iceland has unique resources for research. These include medicine and genetics, drawing on quality health-care services and unrivalled health and genealogical records among a homogenous population; haemophilic bacteria in geothermal springs with high-temperature industrial applications and geological research such as geothermal prospecting and consultancy services. Both the Geothermal and Fisheries Training Programmes of the United Nations University are located in Iceland.

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