Recently released market study: The Outlook for Medical Devices in Western Europe

Nov. 29, 2010 - PRLog -- 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 accessAUSTRIA
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 EUR27.5 billion (US$31.6 billion) in 2007, with private expenditure accounting for around 22.6% of the total. Of this, EUR1.8 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
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 EUR27.5 billion (US$31.6 billion) in 2007, with private expenditure accounting for around 22.6% of the total. Of this, EUR1.8 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.SPAIN

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/94541_the_outlook_for_medical_...

About Espicom Business Intelligence

Espicom Business Intelligence is a highly-regarded and established provider of business intelligence services. Founded in 1982 as MDIS Publications Ltd, the company changed its name to Espicom in 1992. Initially a publisher in a wide range of industries such as power generation and telecommunications, they now focus on the global pharmaceutical and medical device sectors.  View more research from Espicom Business Intelligence at http://www.fastmr.com/catalog/publishers.aspx?pubid=1025

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

# # #

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.