BMI View: The political and economic uncertainty following the UK's decision to leave the EU continues to undermine the medical device market outlook. A slowing economy , reduced funding, additional pricing pressures and the prospect of increased market barriers will all weigh on growth in 2017 . Positive demographics, the growing incidence of chronic diseases, universal access to good quality healthcare services and government support for innovation and new technology acquisition will remain key market drivers boosting growth in the longer term.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We maintain our forecast that the market will grow at a 2015-2020 CAGR of 3.5% in local currency terms and 0.6% in US dollar terms. The market will see local currency low single-digit growth in 2017, and will return to growth in US dollar terms following a contraction in 2016.
Import performance in US dollar terms will stay weak in H117 as a result of the sharp fall in the value of sterling following the UK vote to leave the EU. Imports fell by 6.5% y-o-y to USD1.9bn in the three months to August 2016 but grew by 7.9% in sterling terms. Imports fell by 2.1% to USD8.1bn in the 12 months to August 2016, but grew by 5.4% in sterling terms.
Export performance in US dollar terms will remain negative exacerbated by the fall in sterling. Exports fell by 8.7% y-o-y to USD1.4bn in the three months to August 2016, but grew by 5.5% in sterling terms. In the 12 months to August 2016, exports fell by 4.3% to USD5.8bn, but grew by 3.0% in sterling terms.
The launch of a new GBP130mn fund will support modernisation of radiotherapy treatment across England. The investment will pay for over 100 replacements or upgrades of radiotherapy machines making it the biggest upgrade to NHS cancer treatment in 15 years. The new technology will benefit patients by enabling more precise cancer treatment, as well as reducing NHS costs in the long term.
The United Kingdom 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 United Kingdom provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the United Kingdom Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for United Kingdom, 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 United Kingdom.
- Target Business Opportunities in the United Kingdom Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in United Kingdom.
- 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.