The medical device market will continue to see mid single-digit growth in euro terms. Despitedownward pressure on costs, health expenditure will continue to grow due to the healthcare needs of theexpanding elderly population, which will be a primary driver in the market. However, the current austerityprogramme will hold down growth rates. The drive for efficiency will favour more innovative forms oftechnology that offer cost saving features, particularly given government proposals to support faster uptakeof promising innovations.
Latest Updates And Key Forecasts
We maintain our market forecasts and project that the market will expand by a 2015-2020 CAGR of5.0% in euro terms and 2.8% in US dollar terms taking the value to EUR4.0bn (USD4.0bn). Slowereconomic growth from the impact of Brexit together with efficiency measures imposed as part of thegovernment austerity programme and pricing pressures will be restraining factors.