Reportlinker Adds The Outlook for Medical Devices in Western Europe

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Dec 01, 2010, 10:26 ET

NEW YORK, Dec. 1, 2010 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

The Outlook for Medical Devices in Western Europe

http://www.reportlinker.com/p0192651/The-Outlook-for-Medical-Devices-in-Western-Europe.html

The countries of Western Europe represented a total market of over 401 million people and a combined GDP of US$16.4 trillion in 2007.

The 11 main Western European markets for medical products and equipment are wealthy and mature. Is there any point in manufacturers trying to break into markets they are not already servicing, and, if yes, where? If they are already operating in the region, what are the prospects for growth and what operating environment will they face in the future?

Valuable markets...

News stories chronicle the pressures and problems facing governments trying to expand or maintain health provision in a costconstrained world. but one fact remains. The countries covered by this report represent a total medical device market value of US$58.3 billion in 2008. We forecast this figure will grow by US$24.1 billion over the next five years to US$82.4 billion!

...with cost pressures

All health funders are experiencing difficulties in meeting the demands on modern health systems. Pressures arise from many quarters including:

An ageing population needing longer and more intensive medical treatments

Unplanned population increase due to an influx of immigration and migrant workers

Patient and clinician demands for the latest equipment/services

These quarterly updated reports analyse the issues

The Outlook for Medical Device Markets in Western Europe is published by Espicom Business Intelligence. Each report provides an individual and highly-detailed analysis of each market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access. The reports are available individually or as a discounted collection, and prices include 4 completely updated reports sent quarterly plus a comprehensive annual review.

The developed and mature markets of Western Europe are committed to investing in the latest technologies and are still projected to grow, despite the economic downturn.

Why invest in Western Europe?

Three of the five largest medical device markets in the world are in Western Europe; Germany, France and the UK. Like all other sectors, the medical device markets will be impacted by the global economic recession in the short term. This is a danger for domestic manufacturing industries, especially in Germany, which rely on demand for exports of their products. The downturn will also lead to a strain on health spending. However, beyond the current recession the countries of western Europe are expected to return to growth with leading markets averaging CAGR of 5.4% to 2014.

What factors are affecting medical device market growth?

The mature and high value medical device markets in Western Europe are wealthy and developed. There is a tension between attempting to contain health costs and a desire to remain at the forefront of technological innovation, hospitals will need to invest in the provision of new medical equipment and technologies to maintain this high standard of care.

In addition, healthcare services will need to become more efficient in order to cope with financial pressures and the needs of ageing populations. As part of this, there will be an increased demand for efficiencies, for example, medical devices that facilitate minimally invasive surgery, which can increase the number of operations performed in day surgery and ensure a faster turnaround of patients. Despite recessionary pressures, market growth rates over the coming years will be positive.

A market within a market

There has been a strong growth in imports across western Europe in recent years, and imports tend to account for around 80% of the market. Most importantly,

trade between EU dominates the import market, and companies wanting to exploit the full potential of major European countries need to ensure an effective marketing and distribution network.

Other factors affecting the market's growth potential including changes in the regulatory environment or government measures such as spending controls on medical devices. The significant increase in the migratory population, along with an increasing and needy population of elderly people will see demand for medical devices and equipment maintained.

Complete quarterly-updated analysis to keep you informed

Now you can easily evaluate these markets with The Outlook for Medical Devices in Western Europe. Each report provides individual and highly-detailed analysis of the market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access

AUSTRIA

The market for medical equipment is valued at US$2.3 billion in 2009, equal to US$271 per capita, and is forecast to grow by 4.9% over the next few years. Real GDP growth is expected to fall to -3.3% in 2009, rising to 0.2% in 2010 and 2.2% by 2014. Healthcare expenditure has continued its steady growth in recent years, increasing by 4.4% to reach €27.5 billion (US$31.6 billion) in 2007, with private expenditure accounting for around 22.6% of the total. Of this, €1.8 billion (US$2.4 billion) was spent on pharmaceutical products and medical durables and non-durables. Imports of medical equipment account for a large percentage of the market, and increased by 14.9% in 2008, amounting to US$1.8 billion. The CAGR in the period between 2004 and 2008 was 10%. The largest import category in 2008 was consumables, accounting for 24.3% of total imports. The balance of trade deficit increased to US$242.0 million in 2008 from US$136.6 million in 2007. 78% of medical imports are provided from within the EU with Germany and The Netherlands being the principal suppliers. Domestic production of medical devices tends to be small scale and specialist in nature. Many large multinationals have established offices in Austria in order to take advantage of the country's close proximity to the emerging markets of Central and Eastern Europe.

FRANCE

SPAIN

The Spanish medical market ranks fifth in the EU-27 and eighth in the world. In 2009, it is estimated at US$4.9 billion, which is a market size similar to that found in Canada. Per capita spending on medical equipment, equal to US$107, is on the low side for an EU-27 country. Much of the market, for high-end products especially, is centred in the main cities, particularly around Madrid and Barcelona. Approximately 82.8% of production is exported, equal to US$1.3 billion in 2007. Therefore, imports still represent the majority of the market, equal to 87.9%; imports were valued at US$4 billion in 2007. As a result, Spain has one the world's largest balance of trade deficits in medical devices, valued at US$2.7 billion in 2007. Consumables are the largest medical sector, followed by orthopaedic & implantable products, diagnostic imaging apparatus and dental products. Spain has a strong medical device manufacturing sector, which tends to be based around Madrid and Barcelona. Companies, however, tend to be small and concentrated at the low to medium technology end of the market. Major export categories included medical supplies, syringes, needles & catheters and X-ray equipment

More Information...

11 Key Markets Covered

Austria

Belgium

France

Germany

Ireland

Italy

Netherlands

Portugal

Spain

Switzerland

United Kingdom

MARKET OUTLOOK

Key national data projections

Current market size

Unique 5-year market projections

Market outlook

Market structure

Including statistical data on imports and exports

Market access

Including distribution and medical device regulation

Healthcare analysis

Including demographics, healthcare system, health expenditure, healthcare infrastructure and personnel

HEALTHCARE DATA

A comprehensive tabula review of the market, including economic indicators, demographics, health expenditure, hospital and primary care data, and healthcare personnel.

DISTRIBUTORS

Details of the medical equipment distributors held in Espicom's database at the time of publication.

To order this report:

Medical Devices Industry: The Outlook for Medical Devices in Western Europe

Medical Devices Business News

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