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: 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 market will return to low growth in 2016, following a contraction in 2015 due to the weak euro.

  • 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 contracted by 2.9% y-o-y in US dollar terms in the three months to February 2016, and by 9.3% over the 12 month-period ending February 2016, taking the running total to USD0.9bn.

  • We expect export performance will gain momentum in 2016. Exports were down by 1.9% y-o-y in US dollar terms in the three months to February 2016 and by 11.9% over the 12-month period, taking the running annual total to USD1.7bn.

  • Finland's health technology sector will benefit from the StartUp Health Finland initiative, which saw the first group of Finnish companies selected to join the StartUp Health Academy in May 2016. Five companies will receive access to key US and global healthcare stakeholders and StartUp Health's global peer community. The companies have been invited to co-locate at the Health Innovation Village at GE in Helsinki's 'Silicon' Vallila district.

BMI Industry View
9
Table: Projected Medical Device Market, 2014-2019
9
Latest Updates And Key Forecasts
9
SWOT
10
Medical Device Market
10
Industry Forecast
12
Medical Device Market Forecast
12
Latest Updates
12
Structural Trends
12
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn)
14
Consumables Market Forecast
19
Latest Updates
19
Structural Trends
19
Bandages & Dressings
19
Suturing Materials
20
Syringes, Needles & Catheters
20
Other Consumables
20
Table: Consumables Market, 2009-2019 (USDmn)
21
Table: Consumables Market, 2010-2019 (USDmn % Change)
22
Diagnostic Imaging Market Forecast
24
Latest Updates
24
Structural Trends
24
Electrodiagnostic Apparatus
24
Radiation Apparatus
25
Imaging Parts & Accessories
26
Table: Diagnostic Imaging Market, 2009-2019 (USDmn)
27
Table: Diagnostic Imaging Market, 2010-2019 (USDmn % Change)
28
Dental Products Market Forecast
30
Latest Updates
30
Structural Trends
30
Capital Equipment
31
Instruments & Supplies
31
Table: Dental Products Market, 2009-2019 (USDmn)
32
Table: Dental Products Market, 2010-2019 (USDmn % Change)
32
Orthopaedics & Prosthetics Market Forecast
34
Latest Updates
34
Structural Trends
34
Fixation Devices
34
Artificial Joints
35
Other Artificial Body Parts
35
Table: Orthopaedics & Prosthetics Market, 2009-2019 (USDmn)
36
Table: Orthopaedics & Prosthetics Market, 2010-2019 (USDmn % Change)
36
Patient Aids Market Forecast
38
Latest Updates
38
Structural Trends
38
Portable Aids
38
Therapeutic Appliances
39
Table: Patient Aids Market, 2009-2019 (USDmn)
39
Table: Patient Aids Market, 2010-2019 (USDmn % Change)
40
Other Medical Devices Market Forecast
42
Latest Updates
42
Structural Trends
42
Table: Other Medical Devices Market, 2009-2019 (USDmn)
43
Table: Other Medical Devices Market, 2010-2019 (USDmn % Change)
44
Annual Medical Device Imports
46
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s)
49
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s)
50
Table: Top 20 Medical Device Suppliers, 2014 (USD000s)
52
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s)
53
Table: Detailed Medical Device Import Trends By Product Area, 2014
56
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s)
59
Monthly Medical Device Imports
63
Table: Monthly Medical Device Imports By Product Area, Year Ending February 2016 (USDmn)
63
Annual Medical Device Exports
64
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s)
68
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s)
69
Table: Top 20 Medical Device Destinations, 2014 (USD000s)
71
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s)
72
Table: Detailed Medical Device Export Trends By Product Area, 2014
75
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s)
78
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s)
81
Monthly Medical Device Exports
85
Table: Monthly Medical Device Exports By Product Area, Year Ending February 2016 (USDmn)
85
Industry Risk/Reward Index
86
Table: WE Medical Device Risk/Reward Index, Q316
87
Market Overview
88
Medical Device Market Overview
88
Table: Medical Device Market, Key Ratios, 2015
88
Table: Medical Device Market By Product Area, 2015
89
Healthcare Overview
89
Health Status
89
Healthcare System
90
Healthcare Funding
92
Healthcare Resources
93
Table: Medical Device Technology In Hospitals By Type, 2009-2013 (Units)
94
Healthcare Activity
95
Healthcare Personnel
95
Key Healthcare Data
95
Table: Key Healthcare Data, 2010-2015
95
Industry Trends And Developments
98
Industry Trends & Developments
98
Regulatory Development
104
Medical Device Regulations
104
Competent Authority
104
Notified Bodies
104
Regulations
104
EU Medical Device Regulations
105
Designated Authorities
105
Existing Regulations
106
Proposed Regulatory Changes
107
Medical Device Pricing & Reimbursement
110
Reimbursement
110
Health Technology Assessment
110
Competitive Landscape
112
Domestic Medical Device Production
112
Table: Medical Device Production By Product Area, 2010-2014 (EURmn)
112
Table: Medical Device Production By Detailed Product Area, 2010-2014 (EURmn)
113
National Medical Device Manufacturers
116
Carital
116
Emicaid
116
Fimet
117
Merivaara
117
Molnlyke Health Care
117
Onbone
118
Planmeca Group
118
PulseOn
119
Suominen
120
Table: Suominen Key Figures, 2011-2015
120
Multinational Medical Device Manufacturers
120
Danaher
120
GE Healthcare Finland
121
Multinational Market Activity
123
B
123
Becton Dickinson
123
Boston Scientific
123
Fresenius Medical Care
124
Johnson & Johnson
124
Medtronic
124
Philips
124
Siemens
125
Smith & Nephew
125
Stryker
126
Medical Device Market Access
126
Market Environment
126
Trade Organisations
126
Trade Shows
126
Methodology
127
Forecast Methodology
127
Trade Code Classifications
128
Table: Rearranged HS Trade Codes
129
Risk/Reward Index Methodology
132
Table: Medical Devices Risk/Reward Index Indicators
133
Sources
135
Contact
136

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.