France, an attractive destination for healthcare investment
At the Institut Curie (Saint-Cloud) on 16 May, the French President, Emmanuel Macron, announced a significant health investment in France and accelerate the transition from research to care. This health investment aim to attract and retain top-level researchers in France, to provide research teams with the best technologies and methodologies, and to ensure a continuum from discovery to industrialisation and application for the benefit of patients.
A leading European nation in healthcare innovation
France has long been recognised for its excellence in healthcare, with renowned medical institutions, cutting-edge research, and highly skilled healthcare professionals. Today, the country is further positioning itself as an attractive investment destination through ambitious initiatives to stimulate innovation. According to the World Health Organization (WHO), France ranks 6th globally in terms of investment (public and private) in healthcare. The healthcare industry was France’s 3rd largest exporting sector in 2022, representing €28.3 billion.
The healthcare sector also benefits from a rich ecosystem of opportunities. The French “HealthTech” promote collaboration among researchers, companies, and healthcare professionals. This ecosystem is supported by major French groups such as Sanofi and Servier. France also positions itself as a European leader in innovation by attracting the largest number of R&D centres in Europe in 2022, according to EY. The country is also the 2nd country with the most patents filed in 2022 in Europe.
The ambitious “innovation health” 2030 plan.
In line with France 2030, a global investment plan for the French economy turns toward future challenges. This health investment of €7,5 billion contributes to making France a country where innovations in healthcare can flourish, grow and prosper. It aims to produce at least 20 biomedicines in France, particularly against cancer, chronic diseases linked to age, and to create future medical devices.
The plan also includes the construction of 12 new teaching hospitals and 4 bio clusters, but also innovative solutions to attract talents and reinforce innovation. The Paris Saclay Cluster stands out in France as a major innovation place. This research centre brings together schools and academic research centres, pharmaceutical laboratories and healthcare centres to accelerate new therapies’ development and production in France. They organise services to help innovative projects lead to diagnostic tests or new treatments.
A health sector supported by a pool of talent
France has numerous assets in the research of the health sector. The continued health investment attracts talented researchers, drives knowledge creation, and solidifies France’s position at the forefront of medical advancements. Indeed, the recognition of French expertise is highlighted by the fact that France is home to 13 Nobel Prize laureates in Physiology and Medicine.
Moreover, France has been known for training highly skilled healthcare professionals. The ‘health innovation’ plan will continue investing in education and attracting international talent thanks to scholarship programs and international chairs.
Foreign and Nordics investors continue to choose France
The French government recognises the importance of entrepreneurship and the pharmaceutical industry for healthcare development. Measures are being taken to facilitate the creation of healthcare-related companies, including specific funding and advantageous tax schemes such as the “credit impôt recherche”. According to EY, regarding technological factors, 65% of foreign investors consider France more attractive than other European countries.
Many international healthcare groups have already established themself in France. Beyond major American groups such as Pfizer, Nordic companies continue to invest in France. The Danish group Leo Pharma is an example of a successful establishment in France since 1958. A historic presence which continues today with a new investment of €22,7 million in 2022 to increase its production capacity and choose the latest technologies. Celebrating its 100th anniversary and being present in France since 1961, Novo Nordisk has invested 130 million and recruited 150 new employees at its site in the Centre Val de Loire region.
Read more about Nordic investments in France in 2022
As those companies that have chosen France for its innovative health sector, contact us for more information about your investment project!