BMI Industry View : We anticipate that the medical device market will see a CAGR of 2.4% over the 2014-2019 period, which will be below average for the Western Europe region . In keeping with most developed markets, the main growth drivers in the Austrian market are the increasing health needs of the ageing population and the search for new technologies to improve patient outcomes and increase health service efficiency.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will grow at a US dollar 2014-2019 CAGR of 2.4% from USD2.3bn in 2014 to USD2.6bn in 2019. The lower dollar growth rate reflects currency depreciation at the start of the forecast period. This will translate into a 15.3% contraction in the US dollar value of the market in 2015, followed by a return to low growth in 2016 and higher growth from 2017 to 2019.
Austria's medical device market is heavily reliant upon imports, which account for nearly 85% of demand. While we anticipate that imports will continue to rise in euro terms, currency weakness will continue to negatively impact upon US dollar values. Imports fell by 9.6% y-o-y to USD485.1mn in the three months to August 2015 and by 5.0% to USD2,085.1mn over the 12 period ending in August 2015.
We expect exports will continue to outperform imports, boosted by rising activity within the patient aids product area, although currency weakness will weigh on US dollar values. Exports decreased by 0.6% y-o-y to USD524.7mn over the three months ending August 2015. The running annual export total fell to USD2.1bn in the 12 months to August 2015, representing a y-o-y decline of 1.4%.
Relatively modest rises in health expenditure will be a constraining factor in the medical device market over the next five years. Spending on medical devices accounted for 4.8% of total health expenditure in 2015. We forecast that the medical device market will grow at a slightly higher rate than overall spending on healthcare over the next five years taking the ratio to 5.1% in 2020.
The Austria Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's 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 Austria provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Austria Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Austria, 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 Austria.
- Target Business Opportunities in the Austria Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Austria.
- 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.
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 analyses of the medical devices market, the political environment, the economic landscape and the business environment.
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.
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.
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.
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.
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.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.