BMI View: The UK medical device market will continue to be one of the strongest performers in the region, with average US dollar growth of around 5% per annum forecast to 2019. The newly elected Conservative government has promised a minimum real terms increase in NHS funding in England over the next five years. Nevert heless, cost containment remains high on the agenda and efficiency measures will weigh on market growth.
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Latest Updates and Key Forecasts
We forecast that market will grow at a 2014-2019 US dollar CAGR of 5.1% making the UK the best performing market in our WE region. The market will remain the sixth largest in the world reaching USD14.5bn in 2019.
We believe that imports will return to US dollar growth in H215 on the back of a stronger pound following the decisive result in the May general election. Imports fell by 1.7% in US dollar terms in the 12 months to August 2015 and by 4.2% in the final quarter. In sterling terms, imports continue to average mid single-digit growth.
We believe that exports will struggle to return to growth in H215, particularly given the stronger pound against the euro, which will make UK products more expensive in eurozone markets. Exports fell by 4.9% in US dollar terms in the 12 months to August 2015 and by 6.0% in the final quarter. In sterling terms, imports continue to average low single-digit growth.
A cash injection of GBP3.8bn (USD5.7bn) for the NHS in 2016 will relieve pressure on hospitals and GP services and will fund additional operations, diagnostic tests and outpatient appointments.
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.