BMI View : Our revised forecasts show that the Irish medical device market will record low-to-moderate growth over the 2015-2020 period. T he market will benefit from Ireland's economy outperform ing its fellow EU members, the introductio n of universal health insurance, the increasing healthcare needs of the ag e ing population and the uptake of new technolog y .
|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 down in US dollar terms due to a further weakening of the euro and now expect the 2015-2020 CAGR to be lower at 3.2%. This will see the market grow from USD709.7mn in 2015 to USD832.3mn in 2020.
Sustained import growth in H116 confirms our previous expectation that import performance in US dollar terms will improve in 2016 as the euro stabilises against the US dollar. Imports rose by 6.9% y-o-y in euro terms in Q216 and by 9.2% in US dollar terms. Over the 12 months to June 2016, imports increased by 8.8% in euro terms, and by 1.0% in US dollar terms to almost USD2.0bn
We believe the ongoing benefits of the weak euro in boosting exports to non eurozone markets, such as the USA, China and Japan will continue to underpin robust export growth in 2016. In euro terms, exports grew by 4.0% y-o-y in Q216 and increased by 6.3% in US dollar terms. Over the 12 months to June 2016, imports rose by 8.0% in euro terms and by just 0.1% in US dollar terms to USD11.4bn.
The HSE has published its Winter Initiative Plan 2016/2017 which will be backed by EUR40mn in additional funding. The plan will begin to take effect from late October/early November 2016 and we believe that the additional funding will create opportunities for companies active in the orthopaedic and patient aids sectors.
The Ireland 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 Ireland provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Ireland Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Ireland, 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 Ireland.
- Target Business Opportunities in the Ireland Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Ireland.
- 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.