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The Outlook for Medical Devices in Western Europe

NEW YORK, Feb. 11, 2013 /PRNewswire/ -- announces that a new market research report is available in its catalogue:

The Outlook for Medical Devices in Western Europe

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 3.4% to 2016.

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 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

The UK has one of the largest medical device markets in the world, valued at US$9.0 billion in 2011. The domestic market vies with France as the second largest in Europe behind Germany. Per capita expenditure is equal to US$144. The UK market for medical devices is predicted to increase by 3.6% per annum to attain a value of US$10.8 billion by 2016. The growth of the UK medical device market is predominantly import-led as many domestic manufacturers are not able to rapidly adjust to changes in demand. This led to a succession of trade deficits since 2001. The import market has not been immune to the recession, however. It has faltered since mid 2008, and the US$ total in 2011 was lower than that in 2007.

The French medical device market ranks among the top five largest markets in the world. Consumption of medical equipment and supplies is valued at US$8.8 billion in 2011, equal to US$140 per capita. New measures have recently been taken to control spending on medical devices, similar to those already in force for pharmaceuticals. For this reason, the medical market is only likely to see moderate growth over the next five years. The socialist candidate, François Hollande, has beaten the present incumbent, Nicolas Sarkozy, in the first round of presidential elections that took place on 22nd April 2012. If Mr Hollande prevails in the second round on 6th May, he will become France's first left-wing president in nearly two decades, increasing the chances of the socialists winning a majority in the legislative elections that are due to take place in June 2012. Medical device imports grew by 0.8% to US$11.2 billion in 2011, although not all imported products are destined for the domestic market. In recent years, there has been a marked rise in re-exports in certain sectors, most notably pacemakers.

The German medical device market is the third largest in the world, ranking behind the USA and Japan. In 2011, the German medical device market is estimated at US$19.5 billion, equal to US$240 per capita. Although in decline, the population of Germany still accounts for around 20% of the total population of western Europe with an estimated 81.5 million inhabitants in 2012. At over 11.7% of GDP, healthcare expenditure is at a high level but is increasingly constrained. The domestic market remains tight, with continued downward pressure on prices. Government funding of hospitals in recent years has remained static, therefore hospitals in the public sector are maintaining existing equipment rather than investing in new appliances. This has led to domestic producers becoming increasingly reliant on the export market.

To order this report:
Medical_Devices Industry:
The Outlook for Medical Devices in Western Europe

Contact Clare:
US:(339) 368 6001
Intl:+1 339 368 6001


SOURCE Reportlinker

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Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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