Finland Medical Devices Report

Published 02 July 2015

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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 USD979.7mn in the 12 months to January 2015, representing y-o-y growth of 3.4%. Growth was led by imports of diagnostic imaging (14.5%) and dental products (13.4%).

  • Medical device exports grew at a CAGR of 6.2% over the 2008-2013 period in US dollar terms. The running annual total reached USD1.9bn in the 12 months to January 2015, representing y-o-y growth of 7.3%. Exports outweigh imports by some margin, resulting in a sizeable balance of trade surplus, which rose to USD876.0mn 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 Risk/ Reward Index

  • Finland ranks as the third least attractive...

BMI 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 (USDmn)
16
Consumables Market Forecast
20
Bandages & Dressings
20
Suturing Materials
20
Syringes, Needles & Catheters
21
Other Consumables
21
Table: Consumables Market, 2008-2018 (USDmn)
21
Table: Consumables Market, 2009-2018 (USDmn % Change)
22
Diagnostic Imaging Market Forecast
23
Electrodiagnostic Apparatus
24
Radiation Apparatus
24
Imaging Parts & Accessories
25
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
25
Table: Diagnostic Imaging Market, 2009-2018 (USDmn % Change)
26
Dental Products Market Forecast
28
Capital Equipment
28
Instruments & Supplies
28
Table: Dental Products Market, 2008-2018 (USDmn)
29
Table: Dental Products Market, 2009-2018 (USDmn % Change)
29
Orthopaedics & Prosthetics Market Forecast
30
Fixation Devices
31
Artificial Joints
31
Other Artificial Body Parts
31
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
32
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn % Change)
32
Patient Aids Market Forecast
33
Portable Aids
34
Therapeutic Appliances
34
Table: Patient Aids Market, 2008-2018 (USDmn)
35
Table: Patient Aids Market, 2009-2018 (USDmn % Change)
36
Other Medical Devices Market Forecast
37
Table: Other Medical Devices Market, 2008-2018 (USDmn)
38
Table: Other Medical Devices Market, 2009-2018 (USDmn % Change)
39
Annual Medical Device Imports
40
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s, % 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 (USD000s)
49
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
50
Table: Detailed Medical Device Import Trends By Product Area, 2013
53
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
56
Monthly Medical Device Imports
59
Table: Monthly Medical Device Imports By Product Area, December 2011 - January 2015 (USDmn)
60
Annual Medical Device Exports
62
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
65
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s, % 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 (USD000s)
70
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
71
Table: Detailed Medical Device Export Trends By Product Area, 2013
74
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
77
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
80
Monthly Medical Device Exports
84
Table: Monthly Medical Device Exports By Product Area, December 2011-January 2015 (USDmn)
84
Macroeconomic Forecasts
87
Economic Analysis
87
Table: GDP By Expenditure (Finland 2012-2019)
89
Industry Risk/Reward Index
90
Table: WE Medical Device Risk/Reward Index, Q315
91
Market Overview
92
Medical Device Market Overview
92
Table: Medical Device Market, Key Ratios, 2013
93
Table: Medical Device Market By Product Area, 2013
94
Healthcare Overview
95
Health Status
95
Healthcare System
95
Healthcare Funding
99
Healthcare Resources
100
Table: Medical Device Technology By Type, 2009-2013 (Units)
101
Healthcare Activity
103
Healthcare Personnel
103
Key Healthcare Data
103
Table: Key Healthcare Data, 2009-2014
103
Industry Trends And Developments
106
Industry Trends & Developments
106
Regulatory Development
110
Medical Device Regulations
110
Competent Authority
110
Notified Bodies
110
Regulations
110
EU Medical Device Regulations
111
Designated Authorities
111
Existing Regulations
112
Proposed Regulatory Changes
113
Implications For The Industry
116
Medical Device Pricing & Reimbursement
118
Reimbursement
118
Health Technology Assessment
118
Competitive Landscape
120
Domestic Medical Device Production
120
Table: Medical Device Production By Product Area, 2009-2013 (EURmn)
120
Table: Medical Device Production By Detailed Product Area, 2009-2013 (EURmn)
121
Table: Medical Device Production By Detailed Product Area, 2009-2013 (USDmn)
124
Table: Medical Device Production By Detailed Product Area, 2009-2013 (% Total)
127
National Medical Device Manufacturers
130
Table: Suominen Corporation, Key Figures, 2009-2014
135
Multinational Medical Device Manufacturers
136
Multinational Market Activity
137
Table: Multinational Market Activity, 2015
137
Medical Device Market Access
138
Market Environment
138
Trade Organisations
138
Table: FiHTA Members, 2015
138
Table: Sai-Lab Members, 2015
140
Trade Shows
142
Methodology
143
Forecast Methodology
143
Trade Code Classifications
144
Table: Used HS Trade Codes
144
Table: Rearranged HS Trade Codes
146
Risk/Reward Index Methodology
149
Table: Medical Devices Risk/Reward Index Indicators
150
Sources
152
Contact
153

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.

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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