Business Monitor International


Finland Medical Devices Report

Published 28 November 2014

  • 154 pages
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$1,295.00
Finland Medical Devices Report

BMI Industry View:   Finland has been one of the faster growing markets in Western Europe (WE), although growth has been modest by global standards. Whilst the large and expanding elderly population would indicate a steady rise in medical device consumption, increasing financial pressures on the healthcare system are likely to constrain future growth rates. Although Finland has a history of high quality domestic production, the majority of output is exported leaving the domestic market heavily dependent on imported products.

Headline Industry Forecasts

  • The medical device market was valued at US$1.020.7mn in 2013, equal to US$188 per capita, making it one of the smaller markets in WE. The market is projected to grow by a CAGR of 2.6% in US dollar terms and 4.6% in euro terms over the 2013-2018 period to attain a value of US$1.2bn by 2018.

  • Medical device imports supply around 85% of the medical device market. Between 2008 and 2013, imports grew by a CAGR of 2.8% in US dollar terms. The running annual total reached US$981.4mn in the 12 months to July 2014, representing growth of 4.0% over the previous 12 month period. There were double-digit increases in imports of dental products (18.1%) and orthopaedics & prosthetics (11.4%).

  • Medical device exports grew at a CAGR of 6.2% over the 2008-2013 period in US dollar terms. The running annual total reached almost US$1.9bn in the 12 months to July 2014, representing y-o-y growth of 6.1%. Exports outweigh imports by some margin, resulting in a sizeable balance of trade surplus, which rose to US$876.0mn in 2013. 

  • 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 GE Healthcare Finland, formerly known as Instrumentarium, and there are also many small scale enterprises, focusing on niche markets.

Headline Industry...

Table of Contents

Espicom Industry View
7
SWOT
10
Medical Device Market
10
Political
11
Economic
12
Industry Forecast
13
Medical Device Market Forecast
13
2008-2013 Performance
13
2013-2018 Performance
14
Table: Projected Medical Device Market, 2013-2018
15
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
16
Consumables Market Forecast
20
Bandages & Dressings
20
Suturing Materials
20
Syringes, Needles & Catheters
21
Other Consumables
21
Table: Consumables Market, 2008-2018 (US$mn)
21
Table: Consumables Market, 2009-2018 (US$mn % Change)
22
Diagnostic Imaging Market Forecast
23
Electrodiagnostic Apparatus
24
Radiation Apparatus
24
Imaging Parts & Accessories
24
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
25
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
26
Dental Products Market Forecast
27
Capital Equipment
28
Instruments & Supplies
28
Table: Dental Products Market, 2008-2018 (US$mn)
29
Table: Dental Products Market, 2009-2018 (US$mn % Change)
29
Orthopaedics & Prosthetics Market Forecast
30
Fixation Devices
31
Artificial Joints
31
Other Artificial Body Parts
31
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
32
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
32
Patient Aids Market Forecast
33
Portable Aids
34
Therapeutic Appliances
34
Table: Patient Aids Market, 2008-2018 (US$mn)
35
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
36
Other Medical Devices Market Forecast
37
Table: Other Medical Devices Market, 2008-2018 (US$mn)
38
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
39
Annual Medical Device Imports
40
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s, % Change)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
46
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s, % Change)
47
Table: Top 20 Medical Device Suppliers, 2013 (US$000s)
49
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (US$000s)
50
Table: Detailed Medical Device Import Trends By Product Area, 2013
53
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (US$000s)
56
Monthly Medical Device Imports
59
Table: Monthly Medical Device Imports By Product Area, May 2011 - May 2014 (US$mn)
60
Annual Medical Device Exports
62
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s)
65
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s, % Change)
66
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
67
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s, % Change)
68
Table: Top 20 Medical Device Destinations, 2013 (US$000s)
70
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (US$000s)
71
Table: Detailed Medical Device Export Trends By Product Area, 2013
74
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (US$000s)
77
Table: Detailed Medical Device Trade Balance, 2009-2013 (US$000s)
80
Monthly Medical Device Exports
84
Table: Monthly Medical Device Exports By Product Area, May 2011-May 2014 (US$mn)
84
Macroeconomic Forecasts
86
Economic Analysis
86
Real GDP By Expenditure
86
Risks To Outlook
90
Table: GDP By Expenditure (Finland 2011-2018)
90
Industry Risk Reward Ratings
91
Table: WE Medical Device Risk/Reward Ratings, Q414
92
Market Overview
93
Medical Device Market Overview
93
Table: Medical Device Market, Key Ratios, 2013
94
Table: Medical Device Market By Product Area, 2013
95
Healthcare Overview
96
Health Status
96
Healthcare System
96
Healthcare Funding
99
Healthcare Resources
100
Table: Medical Device Technology By Type, 2005-2012 (Units)
101
Table: Medical Device Technology By Type, 2005-2012 (Rate/mn population)
102
Healthcare Activity
103
Healthcare Personnel
103
Key Healthcare Data
103
Table: Key Healthcare Data, 2008-2013
103
Industry Trends And Developments
106
Industry Trends & Developments
106
Regulatory Development
109
Medical Device Regulations
109
Competent Authority
109
Notified Body
109
EU Medical Device Regulations
109
Designated Authorities
109
Existing Regulations
109
Proposed Regulatory Changes
110
Implications For The Industry
112
Medical Device Pricing & Reimbursement
114
Competitive Landscape
116
Domestic Medical Device Production
116
Table: Medical Device Production By Product Area, 2009-2013 (EURmn)
116
Table: Medical Device Production By Detailed Product Area, 2009-2013 (EURmn)
117
Table: Medical Device Production By Detailed Product Area, 2009-2013 (US$mn)
120
Table: Medical Device Production By Detailed Product Area, 2009-2013 (% Total)
123
National Medical Device Manufacturers
126
Table: Suominen Corporation, Key Figures, 2009-2013
130
Multinational Medical Device Manufacturers
130
Multinational Market Activity
131
Table: Multinational Market Activity, 2014
131
Medical Device Market Access
132
Market Environment
132
Trade Organisations
132
Table: FiHTA Members, 2014
132
Table: Sai-Lab Members, 2014
134
Trade Shows
137
Methodology
138
Medical Device Market Methodology
138
Trade Code Classifications
139
Table: Used HS Trade Codes, 2014
139
Table: Rearranged HS Trade Codes, 2014
141
Risk/Reward Ratings Methodology
144
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
145
Sources
146
Contact
147

The Finland Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a Business Monitor International (BMI) company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.

Detailed product breakdown for market, trade and production data 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 BMI's Medical Devices market 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 demographic trends, regulatory developments, investment dynamics and domestic demand in Finland.
  • Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.

SWOT

SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts

Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.

Macroeconomic Forecasts

Presents macroeconomic forecasts impacting the medical devices market.

Industry Risk Reward Index

Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.

Market Overview

Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.

Industry Trends & Developments

Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.

Regulatory developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

Competitive Landscape

Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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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