BMI View: We maintain the UK will be one of the stronger performing markets in Western Europe despite the current pressure on sterling due to uncertainties surrounding the outcome of the referendum on UK membership of the EU , which will take place on June 23 2016 . The 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.
Import performance in US dollar terms will largely depend on the outcome of the vote on UK membership of the EU. Imports fell by 3.6% in US dollar terms in the 12 months to November 2015 and by 3.5% in the final quarter. In sterling terms, imports averaged mid single-digit growth in 2015.
We expect export performance will remain weak in 2016. Exports fell by 5.6% in US dollar terms in the 12 months to November 2015 and by 4.1% in the final quarter. In sterling terms, exports have averaged low single-digit growth.
The NHS in England will adopt new procurement strategies in 2016 to achieve substantial efficiency savings, which will impact on supplier margins. According to the Department of Health, from April 2016, trusts will have to report their purchasing data on a monthly basis. The data will form the basis of an NHS Purchasing Price Index with the aim of achieving a reduction of at least 10% in non-pay costs across NHS England by 2018.
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.