Reportlinker Adds The Outlook for Medical Devices in Northern Europe
NEW YORK, May 12 Reportlinker.com announces that a new market research report is available in its catalogue:
The Outlook for Medical Devices in Northern Europe
The Outlook for Medical Device Markets in Northern 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. 7 Key Markets Covered!
Denmark, Estonia, Finland, Latvia,
Lithuania, Norway, Sweden
Highlights from the region
Denmark's medical device market is one of the richest in the world and is comparable in size to India. The market has experienced something of an upsurge in the past few years due to increased public expenditure. According to the Danish medical device trade association (Medicoindustrien) much of the recent increase in market size has been due to substantial sales of disposable products like syringes, needles & catheters and medical supplies.
Denmark has many domestic device manufacturers, some of whom have a global presence. Danish companies are mainly in the fields of diagnostics and orthopaedic & prosthetic appliances, especially hearing aids.
Funding for healthcare in Lithuania is principally through the Compulsory Health Insurance Fund. Compulsory insurance came into force in 1997, following a delay in its implementation. It should provide free basic treatment to the insured population, but unofficial payments still occur, to cover the cost of pharmaceuticals and staff wages. Private expenditure has increased in recent years and amounted to a quarter of total spending in 2003.
Around 75% of the medical device market is supplied by imports. Germany, Sweden and the UK were the leading suppliers in 2004, accounting for over 40% of the total. The value of imports has increased every year since 2001, illustrating the medical device industry's recovery from the economic problems of 1999.
The Norwegian medical device market is valued at US$911 million in 2006, equal to US$197 per capita.
Due to the small scale of domestic production, increase in market demand is likely to be met by imports. In 2004, imports were US$677.9 million, an increase of 13.1% over 2003 and 64.0% over 2000. There was a balance of trade deficit equal to US$352.9 million in 2004. Imports of medical equipment and orthopaedic & prosthetic appliances are especially strong, accounting for 60.3% of all medical imports in 2004.
In an effort to avert an impending financial crisis, many hospitals will be facing some hard decisions, particularly those in the southern part of Norway. It is estimated that a loss of NOK1.1 billion (US$165 million) will be posted by the taxpayer-funded hospitals for 2005.
Estonia joined the EU in May 2004. EU directives relating to medical devices were transposed into national law in December 2004, with the introduction of the Medical Devices Act. The Competent Authority for medical devices in Estonia is the State Agency of Medicines.
Funding for healthcare in Estonia is principally through compulsory health insurance, operated by the Estonian Health Insurance Fund. The EHIF replaced the Central Sickness Fund and 17 regional funds in 2001. Private expenditure has increased in recent years and is estimated to account for 26.3% of total spending in 2006.
In 2006, the Estonian market for medical equipment and supplies is estimated at US$120 million, or US$89 per capita. Over 60% of the market is supplied by imports. Germany, the USA and Finland were the leading suppliers in 2004, accounting for around 50% of the total. The value of imports increased by over 56.6% between 2000 and 2004.
..... FOR EVERY MARKET
Current Market Size
Unique 5-Year market projections to 2012
Statistical data on imports and exports
Market developments, covering recent and impending developments with respect to key issues such as regulation, health facilities, funding and
Key national data projections
International market comparisons
FOR EVERY MARKET
Population data, including growth trends and age structure
Demographic indicators detailing principal causes of death and morbidity
Organisation & administration
Expenditure by source of funding and type
Hospital data such as beds by type, region, specialty, patient admissions and surgical procedures
Data on healthcare professionals covering such areas as doctors by specialty, nursing staff and dentists
ACCESSING THE MEDICAL MARKET
Distribution guide and trade fair information
For healthcare organisations and trade
To order this report:
Medical Devices Industry: The Outlook for Medical Devices in Northern Europe
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