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 and 2018.
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.
Latest Updates And Key Forecasts
We have revised upwards our forecast and now project that the market will grow at a 2016-2021 CAGR of 4.4% in local currency terms and 4.1% in US dollar terms to GBP9.6bn (USD12.9bn). Uncertainty over the UK's future relationship with the EU will continue to weigh on growth in the medium term.