BMI View: The European medical device market will continue to record mid single-digit growth over the2016-2021 period, supported by good economic performances in the eurozone and emerging Europe,although we believe that economic growth will peak in 2017. The six main product areas will record midsingle-digit CAGRs in weighted local currency terms, making Europe the slowest growing region in theglobal medical device market. Due to local currency weakness, market growth will be lower in US dollarterms.
Latest Updates And Key Forecasts
We have revised our forecast and project the European medical device market will grow by a 2016-2021CAGR of 5.0% in weighted local currency terms, similar to our previous projection and slightly higherthan the 2011-2016 CAGR of 4.8%. This reflects the cyclical growth upswing that is fully underway inthe eurozone and strong growth in emerging Europe, although we expect 2017 to be a high water markfor growth in Europe. Market drivers will include the ageing population, the expansion of the privatehealth sector, projects to upgrade healthcare facilities, the receipt of EU and other international funding,and strong import reliance despite sizeable production.
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