The healthcare industry generates 17.4 billion euros for Saxony

Healthy Growth: Saxony’s healthcare industry is expanding every year and, according to a recent study, reached a gross value added of 17.4 billion euros in 2023. This means that this cross-sector industry accounted for 12.2 percent of the Free State’s total economic output, according to the Ministry of Economic Affairs in Dresden. At the same time, it provided jobs for around 334,000 people—roughly one in six employed people in Saxony works in this sector. 

“Anyone who views the healthcare industry solely as a cost factor is missing the bigger picture,” concluded Minister of Economic Affairs Dirk Panter (SPD). The study highlights the sector’s importance to the Free State.

Sector Growing Faster Than the Overall Economy

“Since 2014, the sector has grown by an average of 4.8 percent per year—a faster rate than Saxony’s overall economy,” the report stated. It has also proven resilient during the COVID-19 pandemic. “Exports have risen by 39.8 percent since 2014, reaching approximately 2.7 billion euros in 2023. This accounts for 4 percent of Saxony’s total exports.” 

The largest sub-sector is medical and nursing care. In 2023, it generated gross value added of 10.9 billion euros and employed 230,600 people. The industrial healthcare sector accounted for 2.6 billion euros in gross value added, 36,100 employees, and exports totaling 2.4 billion euros—it exhibits the highest growth momentum. 

Other sectors accounted for 3.9 billion euros and 67,700 employees. This primarily includes retail, services, and tourism. Regionally, the picture is varied: companies in the fields of human pharmaceuticals and biotechnology are primarily located in Dresden and Leipzig. Medical technology, on the other hand, is more widely distributed across cities and counties.