The scientific creativity of Hungarians is internationally recognized, which is apparent from a large number of Nobel laureates of Hungarian origin. This talent is particularly noticeable in the fields of natural, technical and medical sciences. Ground-breaking contributions to life sciences were made, such as the first synthesis and mass production of Vitamin C, led by Nobel laureate Hungarian scientist, Albert Szent-Györgyi.

Hungary’s modern pharmaceutical industry was established in 1901 by Gedeon Richter who began industrial-scale manufacturing in his Budapest pharmacy laboratory. During the 1910s and 1920s, the foundations were laid down for one of Hungary’s most successful and globally renowned industrial sectors. Throughout the 20th century, Hungary was the most important supplier of medicine for Eastern Europe and remained at the forefront of the region’s pharmaceutical industry. Building on its rich traditions, today the Hungarian pharmaceutical industry contributes to the health of people in almost 80 countries around the world.

One of Hungary’s most traditional economic sector is medical technology, a sector that has seen almost 100 years of widely acknowledged innovation, highly specialized technical development and notable exports to the global market. Several Hungarian companies have achieved international recognition with cutting edge products and technologies. A growing number of innovative domestic SMEs, as well as several international Medtech producers, take advantage of the favorable environment and productive workforce in Hungary.

Hungary’s pharmaceutical traditions and internationally acknowledged achievements in chemistry and biology serve as the basis of its healthy biotechnology sector. Today, the country has over 85 core biotechnology companies of various sizes focused on biotech R&D and manufacturing. The majority were established in 2005-2007, and market their products and services worldwide. Hungary has a proven track record in R&D and is a net contributor to the global biotech industry.

The health industry is one of the leading sectors of the Hungarian economy, with a share of 6% of the GDP and a significant role in the exporting activity. Hungarian companies offer on foreign markets:

Medical instruments and apparatus

Pharmaceuticals and medical products

Health care services

Built on technology, real estate development, and investment

IT support

Education

Development of the health care system

Source: HIPA

 

 

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