Medtech performing well but hiring little and investing less
(30.09.2026) The Swiss medical technology industry is performing relatively well: its revenue has grown by +5.5% per year over the past two years, twice as fast as the economy as a whole, according to the 2026 study by industry association Swiss Medtech.
Medtech remains a major pillar of the Swiss economy. It employs nearly 72,000 people across 1,400 companies, which generated CHF 12 billion in exports in 2025, as well as a trade surplus of CHF 5.5 billion, the third largest in the country. Europe accounts for more than half of trade, with the remaining two quarters divided between the United States and the rest of the world. Medtech also reinvests 12% of its revenue in research and development, making it one of the country’s most dynamic industries.
However, Swiss Medtech is concerned about an overall loss of competitiveness in the sector compared with its counterparts in the European Union, China and the United States. More than half of the companies surveyed consider Switzerland less attractive than it was five years ago. Only 200 net new jobs have been created recently, compared with an average of 1,500 over the past ten years. Investment in R&D and production has also fallen sharply. Nearly half (43%) of the companies surveyed are currently planning no investment, the highest figure since the survey began in 2018.
Cost pressures are now the main challenge facing the Swiss medical technology industry. Companies cite tariffs and bureaucracy among the most significant obstacles. Conversely, artificial intelligence and digitalization represent the greatest potential for the sector. However, the necessary digital skills remain limited in Switzerland. Several companies are therefore choosing to develop this expertise abroad, at the risk of shifting value creation overseas.