BMI View: We forecast a modest 2014-2019 US dollar CAGR of 1.8%, which is below the Western Europe average. Although the large and expanding elderly population would indicate a steady rise in medical device consumption, increasing financial pressures on the healthcare system and the relatively small population overall are likely to constrain future growth rates. While Finland has a history of high quality domestic production, the majority of output is exported leaving the domestic market heavily dependent on imported products.
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Latest Updates and Key Forecasts
We forecast the medical device market will grow at a 2014-2019 CAGR of 1.8% in US dollar terms, taking the value to USD1.2bn in 2019. The low dollar rate reflects a weak euro at the start of the forecast period. The market will contract in US dollar terms in 2015 before returning to low growth in 2016.
We expect import performance in US dollar terms will continue to be constrained by the weak euro in the coming months. Medical device imports contracted by 10.4% in US dollar terms in the three months to October 2015 and by 10.2% over the 12 month period ending October 2015, taking the running total to USD0.9bn.
We expect exports will continue to be adversely affected by the depreciation of the euro in the coming months. Exports were down by 12.5% in US dollar terms in the three months to October 2015 and by 7.2% over the 12 month period, taking the running annual total to USD1.8bn.
The Finnish government is planning further reforms to the health sector, under which the responsibility for organising the services will rest with five social welfare and healthcare regions, rather than the individual municipalities. Specialised emergency care will be centralised and government steering will be strengthened, which we believe will improve equitable access.
The Finland 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 Finland provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Finland Medical Devices industry.
- 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.
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.