The economic downturn has hurt European companies in the microtechnology, nanotechnology and advanced materials industries, according to a survey by IVAM Research completed in December 2009. The sector accounted for nearly €44 billion ($62 billion) in revenues in 2009 and had 310,000 employees. Twenty-seven percent of the companies surveyed reported a decline of more than 10% in revenues last year, while 22% reported steady revenues and 19% reported a decline of 10% or less. Asked in what way the economic crisis affected their businesses in 2009, 76% of respondents cited decreased orders, 67% reported decreased sales and 63% reported decreased production. Financing was steady for 46% of survey participants and declined for 34%. In reaction to the crisis, 70% have increased customer acquisitions and 65% have increased diversification. Thirty percent have reduced R&D investments and 26% have increased investments in innovation. The highest percentage of respondents, 48%, excluding German firms, selected medical technology as the industry for which their products and technologies applied. Among German companies, 51% chose the automotive industry.

Source: IVAM Research