BMI View: 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.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We have revised our forecasts and we now project that the market will grow at a 2015-2020 CAGR of 4.8% in euro terms and 2.6% in US dollar terms. The lower dollar forecast reflects further weakening of the euro, which we anticipate will hit parity with the US dollar in 2019.
We expect imports will struggle as the economy stagnates, although a stabilisation of the euro against the US dollar will improve performance in US dollar terms. Imports rose by 8.2% y-o-y in euro terms and by 11.5% in US dollar terms in the three months to May 2016, but contracted by 3.3% in US dollar terms over the 12-month period, taking the total to USD0.9bn.
We expect export performance will remain weak. Exports grew by 0.1% y-o-y in euro terms and by 3.1% in US dollar terms in the three months to May 2016, although they were down by 11.0% in US dollar terms over the 12-month period, taking the running annual total to USD1.7bn.
Production of medical devices was down by 1.4% in euro terms in 2015, reflecting sluggish conditions in the domestic market and reduced demand for exports. We believe that performance in the coming months will hinge largely on the demand for exported diagnostic imaging products.
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.