Business Monitor International


Finland Medical Devices Report

Published 17 February 2014

  • 172 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Finland Medical Devices Report

Espicom Industry View: The Finnish medical device market dipped in 2009 but growth resumed in 2010. Overall, the 2008-2013 CAGR was moderate. Imports account for a large share of the market so this should ensure that the level of imports continues to grow at a steady rate. The level of exports is considerably higher than the level of imports, leading to a balance of trade surplus. Domestic production of medical devices is from many small scale enterprises, focusing on niche markets.

Headline Industry Forecasts

  • The medical device market was valued at US$1.1bn in 2013, equal to US$203.9 per capita, making it one of the smaller markets in Western Europe. The market is projected to grow by a CAGR of 4.2% in US dollar terms and 6.4% in euro terms over the 2013-2018 period to attain a value of US$1.4bn by 2018.

  • •Medical device imports supply around 80% of the medical device market. Between 2007 and 2012, imports grew by a CAGR of 3.9% in US dollar terms. The running annual total reached US$931.4mn in the 12 months to October 2013, representing y-o-y growth of 2.5%.

  • Medical device exports grew at a CAGR of 8.0% over the 2007-2012 period in US dollar terms. The running annual total reached US$1.8bn in the 12 months to October 2013, representing y-o-y growth of 11.2%. Due to an increase in the level of exports in 2012, the balance of trade surplus rose to US$756.1mn in 2012.

  • Total medical device production is estimated to be in the region of US$2.0bn.The industry has particular strengths in diagnostic imaging apparatus, notably electrodiagnostic apparatus and X-ray equipment. Finland's largest domestic manufacturer is Instrumentarium, a subsidiary of GE Healthcare.

Headline Industry Risk/Reward Rating

  • Finland is the twelfth most attractive market in Western Europe in which to commercialise a medical device, according to BMI Espicom's Medical Device Risk/Reward Ratings (RRRs). The country's overall score for Q214 is 70.6 out of 100, compared to a...

Table of Contents

Espicom Industry View
9
SWOT
11
Medical Device Market
11
Economic
12
Political
13
Industry Forecast
14
Medical Device Market Forecast
14
Past Performance 2008-2013
14
Future Performance 2013-2018
15
Table: Projected Medical Device Market, 2013-2018
16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
17
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita)
21
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total)
24
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$ % Change)
27
Consumables Market Forecast
30
Table: Consumables Market, 2008-2018 (US$mn)
30
Table: Consumables Market, 2008-2018 (US$ Per Capita)
31
Table: Consumables Market, 2009-2018 (US$mn % Change)
32
Diagnostic Imaging Market Forecast
34
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
35
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
36
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
37
Dental Products Market Forecast
39
Table: Dental Products Market, 2008-2018 (US$mn)
40
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
40
Table: Dental Products Market, 2009-2018 (US$mn % Change)
41
Orthopaedics & Prosthetics Market Forecast
43
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
44
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
44
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
45
Patient Aids Market Forecast
46
Table: Patient Aids Market, 2008-2018 (US$mn)
47
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
48
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
48
Other Medical Devices Market Forecast
50
Table: Other Medical Devices Market, 2008-2018 (US$mn)
51
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)
52
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
53
Annual Medical Device Imports
55
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)
58
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)
59
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)
60
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)
61
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)
63
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
66
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution)
67
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)
68
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)
69
Table: Detailed Medical Device Import Trends By Product Area, 2012
72
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
76
Monthly Medical Device Imports
79
Table: Monthly Medical Device Imports By Product Area, October 2010 - October 2013 (US$mn)
80
Annual Medical Device Exports
82
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)
84
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)
85
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)
86
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)
87
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)
89
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s)
92
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution)
93
Table: Top 20 Medical Device Destinations, 2012 (US$000s)
94
Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s)
95
Table: Detailed Medical Device Export Trends By Product Area, 2012
98
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
102
Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s)
105
Monthly Medical Device Exports
108
Table: Monthly Medical Device Exports By Product Area, October 2010 - October 2013 (US$mn)
108
Macroeconomic Forecasts
110
Economic Analysis
110
Macro Outlook
110
Real GDP By Expenditure
110
Risks To Outlook
116
Table: Finland - Economic Activity
116
Industry Risk Reward Ratings
117
Table: Western Europe Medical Device Risk/Reward Ratings, Q214
118
Market Overview
119
Medical Device Market Overview
119
Overview
119
Table: Medical Device Market, Key Ratios, 2013
120
The Market In 2013
120
Table: Medical Device Market By Category, 2013
121
Healthcare Overview
122
Health Status
122
Healthcare System
122
Healthcare Funding
125
Healthcare Resources
126
Table: Medical Device Technology By Type, 2005-2012 (Units)
127
Table: Medical Device Technology By Type, 2005-2012 (Rate/mn population)
128
Healthcare Activity
129
Healthcare Personnel
129
Key Data
129
Table: Key Data, 2008-2013
129
Industry Trends And Developments
132
Industry Trends & Developments
132
Regulatory Development
134
Medical Device Regulations
134
Competent Authority
134
Notified Body
134
EU Medical Device Regulations
134
Designated Authorities
134
Existing Regulations
134
Proposed Regulatory Changes
135
Implications For The Industry
137
Medical Device Pricing & Reimbursement
137
Competitive Landscape
139
Domestic Medical Device Production
139
Table: Medical Device Production By Product Area, 2008-2012 (EURmn)
139
Table: Medical Device Production By Detailed Product Area, 2008-2012 (EURmn)
140
Table: Medical Device Production By Detailed Product Area, 2008-2012 (US$mn)
143
Table: Medical Device Production By Detailed Product Area, 2008-2012 (% Distribution)
146
National Medical Device Manufacturers
149
Table: Suominen's Key Figures, 2007-2012
152
Multinational Medical Device Manufacturers
152
Multinational Market Activity
154
Table: Multinational Market Activity, 2014
154
Medical Device Market Access
155
Market Environment
155
Trade Organisations
155
Table: FiHTA Members, 2014
155
Table: Sai-Lab Members, 2014
158
Trade Shows
162
Methodology
163
Medical Device Market Methodology
163
Trade Code Classifications
164
Table: Used HS Trade Codes, 2014
164
Table: Rearranged HS Trade Codes, 2014
166
Risk/Reward Ratings Methodology
169
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
170
Sources
171
Contact
172

The Finland Medical Devices Report features forecasts for medical devices production, imports, exports and healthcare expenditure by Espicom, a Business Monitor International company (BMI). These forecasts focus on Consumables, Diagnostic Imaging Apparatus, Dental Products, Orthopaedic and Prosthetic Devices and other medical devices.

The breakdown of domestic production, domestic manufacturing, individual trade associations and multinational activity in Finland provides industry professionals, strategists, company executives, and analysts with independent forecasts and competitive intelligence on the Finland medical devices industry.

Key Benefits

  • Benchmark Espicom’s Medical Devices expenditure forecasts, which take into account macroeconomic and industry-specific forecasts for Finland, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Finland.
  • Target Business Opportunities in the Finland medical devices market by using our assessments and projections for disease and demographic trends, regulatory developments, tax legislation and government subsidies, investment dynamics and domestic demand in Finland.
  • Assess the activities and market position of your competitors via our assessments of domestic production, imports and exports, trade associations, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Covers geographic factors, political issues, and economic concerns, together with an overview of the country’s healthcare systems, health insurance regulations and health related projects which might have an impact on the country. These are presented in conjunction with estimates of health expenditure.

Market Developments

Provides analysis on the latest regulatory developments, key forecast indicators and major corporate developments, including production growth and government investment programmes.

Medical Market Analysis

Evaluates the market’s developments over the past year, comparing it with historical trends, and provides a forecast of future performance throughout our forecast period to end-2018. The report presents forecasts on the annual imports and exports for each of these sectors along with a monthly analysis of import and export trends and developments. There is also a detailed assessment of domestic production and domestic manufacturing, with a breakdown of individual trade associations, national and multinational manufacturers.

Medical Device Market Projections cover Market (US$mn), Per Capita (US$mn), (%) of total expenditure, and (%) change, for the below medical devices:

Consumables (US$mn): bandages and dressings, suturing materials, ostomy products, syringes, needles, and catheters.

Diagnostic Imaging (US$mn): electrodiagnostic, ultrasound, MRI, patient monitoring, CT scanners, X-ray apparatus, imaging parts and accessories.

Dental Products (US$mn): dental capital equipment, dental drills, dental chairs, dental X-rays, dental instruments and supplies, dental cements, teeth and other fittings.

Orthopaedic and prosthetic products (US$mn): fixation devices, artificial joints, and other artificial body parts.

Patient Aids (US$mn): portable aids, hearing aids, pacemakers, and therapeutic appliances.

Other medical devices (US$mn): wheelchairs, ophthalmic instruments, anaesthesia apparatus, dialysis apparatus, blood pressure monitors, endoscopy monitors, and hospital furniture.

Multinational Activity

Discusses the presence of multinational companies in the country, either via sales and distribution outlets, or through manufacturing facilities. ‘Domestic Manufacturing’ delineates the presence and activities of domestic medical device companies. Key company developments are incorporated, enabling a full evaluation of recent company performance and future growth prospects.

Accessing the Market

This section contains analysis of the overall market environment, distribution (including over 1,600 qualified sales agencies and distribution leads), import duties and taxes, procurement options (such as trade fairs, various expositions and procurement bodies), together with an explanation of the regulatory environment covering registration, labelling requirements and the use of second-hand equipment.

Directory

Contains details for Healthcare organisations, Professional Bodies, and Trade Associations, along with Trade Code Classifications.

Appendix – Statistical Tables

Extensive statistical tables provide historical data and forecasts from 2007-2018, identifying trends and changes in population, principle causes of death, public health expenditure, hospital data (including beds by type, discharge data, long stay patients by type), and hospital personnel.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc