Finland Medical Devices Report

Providing expert analysis, independent forecasts and competitive intelligence on the medical devices industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, Industry Risk Reward Index, Regulatory Development, Competitive Landscape and Regional and Country Industry Overviews.

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Finland Medical Devices Report
Product Price
$1,295.00

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 .

Projected Medical Device Market, 2014-2019
Total (USDmn) Per Capita (USD) Total (Local Currency mn) Per Capita (Local Currency) Exchange Rate (Local Currency/USD)
Source: BMI
2014 1,056.7 194.1 788.6 144.9 0.75
2015 879.3 161.0 799.3 146.4 0.91
2016 890.2 162.5 832.0 151.9 0.93
2017 956.5 174.1 869.6 158.3 0.91
2018 1,058.3 192.0 920.3 167.0 0.87
2019 1,155.8 209.1 963.1 174.3 0.83

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 10.6% in US dollar terms in the three months to August 2015 and by 8.1% over the 12 month period ending August 2015, taking the running annual 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 13.1% in US dollar terms in the three months to August 2015 and by 6.5% 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, which we believe will improve equitable access. The new regions are planned to be up and running by January 1 2017.

BMI Industry View
7
SWOT
10
Medical Device Market
10
Political
11
Economic
12
Industry Forecast
13
Medical Device Market Forecast
13
2014-2019 Performance
13
Table: Projected Medical Device Market, 2014-2019
13
2009-2014 Performance
15
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn)
16
Consumables Market Forecast
21
Bandages & Dressings
21
Suturing Materials
22
Syringes, Needles & Catheters
22
Other Consumables
22
Table: Consumables Market, 2009-2019 (USDmn)
23
Table: Consumables Market, 2010-2019 (USDmn % Change)
24
Diagnostic Imaging Market Forecast
26
Electrodiagnostic Apparatus
26
Radiation Apparatus
27
Imaging Parts & Accessories
27
Table: Diagnostic Imaging Market, 2009-2019 (USDmn)
28
Table: Diagnostic Imaging Market, 2010-2019 (USDmn % Change)
29
Dental Products Market Forecast
31
Capital Equipment
31
Instruments & Supplies
32
Table: Dental Products Market, 2009-2019 (USDmn)
33
Table: Dental Products Market, 2010-2019 (USDmn % Change)
33
Orthopaedics & Prosthetics Market Forecast
35
Fixation Devices
35
Artificial Joints
36
Other Artificial Body Parts
36
Table: Orthopaedics & Prosthetics Market, 2009-2019 (USDmn)
37
Table: Orthopaedics & Prosthetics Market, 2010-2019 (USDmn % Change)
37
Patient Aids Market Forecast
39
Portable Aids
39
Therapeutic Appliances
39
Table: Patient Aids Market, 2009-2019 (USDmn)
40
Table: Patient Aids Market, 2010-2019 (USDmn % Change)
41
Other Medical Devices Market Forecast
43
Table: Other Medical Devices Market, 2009-2019 (USDmn)
44
Table: Other Medical Devices Market, 2010-2019 (USDmn % Change)
45
Annual Medical Device Imports
47
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s)
50
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s, % Change)
51
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s)
52
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s, % Change)
53
Table: Top 20 Medical Device Suppliers, 2014 (USD000s)
55
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s)
56
Table: Detailed Medical Device Import Trends By Product Area, 2014
59
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s)
62
Monthly Medical Device Imports
66
Table: Monthly Medical Device Imports By Product Area, June 2012 - June 2015 (USDmn)
66
Annual Medical Device Exports
69
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s)
74
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s, % Change)
75
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s)
76
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s, % Change)
77
Table: Top 20 Medical Device Destinations, 2014 (USD000s)
79
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s)
80
Table: Detailed Medical Device Export Trends By Product Area, 2014
83
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s)
86
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s)
89
Monthly Medical Device Exports
93
Table: Monthly Medical Device Exports By Product Area, June 2012-June 2015 (USDmn)
93
Macroeconomic Forecasts
96
Finland Macroeconomic Forecast
96
Real GDP By Expenditure Breakdown
97
Table: GDP By Expenditure (Finland 2012-2019)
98
Industry Risk/Reward Index
99
Table: WE Medical Device Risk/Reward Index, Q415
100
Market Overview
101
Medical Device Market Overview
101
Table: Medical Device Market, Key Ratios, 2014
102
Table: Medical Device Market By Product Area, 2014
103
Healthcare Overview
104
Health Status
104
Healthcare System
104
Healthcare Funding
108
Healthcare Resources
109
Table: Medical Device Technology In Hospitals By Type, 2009-2013 (Units)
110
Healthcare Activity
112
Healthcare Personnel
112
Key Healthcare Data
112
Table: Key Healthcare Data, 2009-2014
112
Industry Trends And Developments
115
Industry Trends & Developments
115
Regulatory Development
119
Medical Device Regulations
119
Competent Authority
119
Notified Bodies
119
Regulations
119
EU Medical Device Regulations
120
Designated Authorities
120
Existing Regulations
121
Proposed Regulatory Changes
122
Implications For The Industry
125
Medical Device Pricing & Reimbursement
128
Reimbursement
128
Health Technology Assessment
128
Competitive Landscape
130
Domestic Medical Device Production
130
Table: Medical Device Production By Product Area, 2010-2014 (EURmn)
130
Table: Medical Device Production By Detailed Product Area, 2010-2014 (EURmn)
131
Table: Medical Device Production By Detailed Product Area, 2010-2014 (USDmn)
134
National Medical Device Manufacturers
138
Table: Suominen Corporation, Key Figures, 2009-2014
143
Multinational Medical Device Manufacturers
144
Multinational Market Activity
145
Table: Multinational Market Activity, 2015
145
Medical Device Market Access
146
Market Environment
146
Trade Organisations
146
Table: FiHTA Members, 2015
146
Table: Sai-Lab Members, 2015
148
Trade Shows
150
Methodology
151
Forecast Methodology
151
Trade Code Classifications
152
Table: Rearranged HS Trade Codes
153
Risk/Reward Index Methodology
156
Table: Medical Devices Risk/Reward Index Indicators
157
Sources
159
Contact
160

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.