Ireland Medical Devices Report

Published 23 January 2015

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Ireland Medical Devices Report

BMI Industry View : Ireland represents a small, but advanced medical device market , which wa s valued at a n estimated EUR 603.9mn ( USD 797.2 mn ) in 2013. In US dollar terms, t he market contracted between 2008 and 201 3 , but returned to growth in 2013 and is forecas t to grow at a CAGR of 2.2 % in US dollars, to reach USD 888.3 mn in 2018. Ireland has a strong medical device manufacturing sector, and is an attractive location for US and other firms to use as a European base.

Headline Industry Forecasts

  • Ireland's medical device market is the smallest of the 15 key markets analysed in the WE region, accounting for 1.3% of the total value. The Irish market was valued at an estimated USD797.2mn in 2013, representing an 8.2% increase on 2012 in dollar terms. The market is forecast to grow at a CAGR of 2.2% in US dollars to reach USD888.3mn in 2018.

  • Medical device imports stood at USDUSD1.622.8mn in 2013, up from USD1,550.1mn in 2012. The running annual total reached USD1,951.2mn in the 12 months to October 2014, representing y-o-y growth of 24.5%. Patient aids and consumables are the largest product areas in terms of imports and these categories are subject to a high level of re-exporting.

  • Ireland is one of the world's leading exporters of medical devices due to the presence of a large number of US multinationals, which use the country as a European manufacturing base . Medical device exports grew from USD7.8bn in 2008 to USD9.8bn in 2013, representing a CAGR of 4.7%. Exports totalled USD10,292.1mn in the 12 months to October 2014, a y-o-y increase of 7.6%.

  • Domestic medical device manufacturing is dominated by US multinationals, which produce mainly for export. There is very little locally owned manufacturing of finished products, apart from a number of small high-tech companies many of which are connected to Irish universities and/or receive government funding. Domestic output is estimated to exceed USD9.0bn with particular strengths in...

Table of Contents

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
15
Table: Projected Medical Device Market, 2013-2018
16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
17
Consumables Market Forecast
20
Bandages & Dressings
21
Suturing Materials
21
Syringes, Needles & Catheters
21
Other Consumables
21
Table: Consumables Market, 2008-2018 (US$mn)
22
Table: Consumables Market, 2009-2018 (US$mn % Change)
23
Diagnostic Imaging Market Forecast
24
Electrodiagnostic Apparatus
25
Radiation Apparatus
25
Imaging Parts & Accessories
26
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
26
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
27
Dental Products Market Forecast
28
Capital Equipment
29
Instruments & Supplies
29
Table: Dental Products Market, 2008-2018 (US$mn)
29
Table: Dental Products Market, 2009-2018 (US$mn % Change)
30
Orthopaedics & Prosthetics Market Forecast
31
Fixation Devices
32
Artificial Joints
32
Other Artificial Body Parts
32
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
32
Table: Orthopaedics & Prosthetics Market, 2009-2018 (% Change)
33
Patient Aids Market Forecast
34
Portable Aids
34
Therapeutic Appliances
34
Table: Patient Aids Market, 2008-2018 (US$mn)
35
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
35
Other Medical Devices Market Forecast
37
Table: Other Medical Devices, 2008-2018 (US$mn)
38
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
39
Annual Medical Device Imports
40
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s, % 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 (US$000s)
49
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (US$000s)
50
Table: Detailed Medical Device Import Trends By Product Area, 2013
53
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (US$000s)
56
Monthly Medical Device Imports
60
Table: Monthly Medical Device Imports By Product Area, June 2011 - July 2014 (US$mn)
60
Annual Medical Device Exports
63
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s)
67
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s, % Change)
68
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
69
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s, % Change)
70
Table: Top 20 Medical Device Destinations, 2013 (US$000s)
72
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (US$000s)
73
Table: Detailed Medical Device Export Trends By Product Area, 2013
76
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (US$000s)
79
Table: Detailed Medical Device Trade Balance, 2009-2013 (US$000s)
82
Monthly Medical Device Exports
86
Table: Monthly Medical Device Exports By Product Area, June 2011 - July 2014 (US$mn)
86
Macroeconomic Forecasts
89
Economic Analysis
89
Table: Economic Activity (Ireland 2009-2018)
93
Industry Risk Reward Ratings
94
Table: WE Medical Device Risk/Reward Ratings, Q115
95
Market Overview
96
Medical Device Market Overview
96
Table: Medical Device Market, Key Ratios, 2013
97
Table: Medical Device Market By Product Area, 2013
98
Healthcare Overview
99
Health Status
99
Healthcare System
99
Healthcare Funding
101
Healthcare Resources
105
Table: Diagnostic Imaging Technology By Type, 2005-2013
107
Table: Diagnostic Imaging Technology Per Mn Population By Type, 2006-2013
107
Healthcare Activity
108
Healthcare Personnel
108
Key Healthcare Data
109
Table: Key Healthcare Data, 2008-2013
109
Industry Trends And Developments
112
Industry Trends & Developments
112
Regulatory Development
121
Medical Device Regulations
121
Competent Authority
121
Notified Body
121
Regulations
121
EU Medical Device Regulations
122
Designated Authorities
122
Existing Regulations
122
Proposed Regulatory Changes
123
Implications For The Industry
125
Medical Device Pricing & Reimbursement
127
Competitive Landscape
129
Domestic Medical Device Production
129
Table: Medical Device Production By Product Area, 2009-2013 (EURmn)
129
Table: Medical Device Production By Product Area, 2009-2013 (US$mn)
132
Table: Medical Device Production By Product Area, 2009-2013 (% Distribution)
136
Domestic Medical Device Manufacturing
139
National Medical Device Manufacturers
140
Multinational Medical Device Manufacturers
146
Multinational Market Activity
155
Table: Multinational Market Activity, 2014
155
Medical Device Market Access
156
Market Environment
156
Distribution
156
Trade Organisations
156
Trade Fairs
156
Methodology
157
Medical Device Market Methodology
157
Trade Code Classifications
158
Table: Used HS Trade Codes, 2014
158
Table: Rearranged HS Trade Codes, 2014
160
Risk/Reward Ratings Methodology
163
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
164
Sources
165
Contact
166

The Ireland Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a Business Monitor International (BMI) 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.

Key Benefits

  • 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.

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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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc