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Finland Medical Devices Report

Finland Medical Devices Report

BMI Industry View: Finland has been one of the faster growing markets in Western Europe (WE), although growth has been modest by global standards. Whilst the large and expanding elderly population would indicate a steady rise in medical device consumption, increasing financial pressures on the healthcare system are likely to constrain future growth rates. Although Finland has a history of high quality domestic production, the majority of output is exported leaving the domestic market heavily dependent on imported products.

Headline Industry Forecasts

The medical device market was valued at US$1.020.7mn in 2013, equal to US$188 per capita, making it one of the smaller markets in WE. The market is projected to grow by a CAGR of 2.6% in US dollar terms and 4.6% in euro terms over the 2013-2018 period to attain a value of US$1.2bn by 2018.

Medical device imports supply around 85% of the medical device market. Between 2008 and 2013, imports grew by a CAGR of 2.8% in US dollar terms. The running annual total reached USD991.7mn in the 12 months to October 2014, representing y-o-y growth of 5.7%. Growth was led by imports of dental products (18.7%), orthopaedics & prosthetics (9.4%) and diagnostic imaging (7.0%).

Medical device exports grew at a CAGR of 6.2% over the 2008-2013 period in US dollar terms. The running annual total reached US$1.9bn in the 12 months to October 2014, representing y-o-y growth of 5.7%. Exports outweigh imports by some margin, resulting in a sizeable balance of trade surplus, which rose to US$876.0mn in 2013.

Medical device production is estimated to be in the region of US$2.0bn. The industry has particular strengths in diagnostic imaging apparatus, notably electrodiagnostic apparatus and X-ray equipment. Finland's largest domestic manufacturer is GE Healthcare Finland, formerly known as Instrumentarium, and there are also many small scale enterprises, focusing on niche markets.


Espicom Industry View
SWOT
Medical Device Market
Political
Economic
Industry Forecast
Medical Device Market Forecast
2008-2013 Performance
2013-2018 Performance
Table: Projected Medical Device Market, 2013-2018
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
Consumables Market Forecast
Bandages & Dressings
Suturing Materials
Syringes, Needles & Catheters
Other Consumables
Table: Consumables Market, 2008-2018 (US$mn)
Table: Consumables Market, 2009-2018 (US$mn % Change)
Diagnostic Imaging Market Forecast
Electrodiagnostic Apparatus
Radiation Apparatus
Imaging Parts & Accessories
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
Dental Products Market Forecast
Capital Equipment
Instruments & Supplies
Table: Dental Products Market, 2008-2018 (US$mn)
Table: Dental Products Market, 2009-2018 (US$mn % Change)
Orthopaedics & Prosthetics Market Forecast
Fixation Devices
Artificial Joints
Other Artificial Body Parts
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
Patient Aids Market Forecast
Portable Aids
Therapeutic Appliances
Table: Patient Aids Market, 2008-2018 (US$mn)
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
Other Medical Devices Market Forecast
Table: Other Medical Devices Market, 2008-2018 (US$mn)
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
Annual Medical Device Imports
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s)
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s, % Change)
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s, % Change)
Table: Top 20 Medical Device Suppliers, 2013 (US$000s)
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (US$000s)
Table: Detailed Medical Device Import Trends By Product Area, 2013
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (US$000s)
Monthly Medical Device Imports
Table: Monthly Medical Device Imports By Product Area, May 2011 - May 2014 (US$mn)
Annual Medical Device Exports
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s)
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s, % Change)
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s, % Change)
Table: Top 20 Medical Device Destinations, 2013 (US$000s)
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (US$000s)
Table: Detailed Medical Device Export Trends By Product Area, 2013
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (US$000s)
Table: Detailed Medical Device Trade Balance, 2009-2013 (US$000s)
Monthly Medical Device Exports
Table: Monthly Medical Device Exports By Product Area, May 2011-May 2014 (US$mn)
Macroeconomic Forecasts
Economic Analysis
Real GDP By Expenditure
Risks To Outlook
Table: GDP By Expenditure (Finland 2011-2018)
Industry Risk Reward Ratings
Table: WE Medical Device Risk/Reward Ratings, Q414
Market Overview
Medical Device Market Overview
Table: Medical Device Market, Key Ratios, 2013
Table: Medical Device Market By Product Area, 2013
Healthcare Overview
Health Status
Healthcare System
Healthcare Funding
Healthcare Resources
Table: Medical Device Technology By Type, 2005-2012 (Units)
Table: Medical Device Technology By Type, 2005-2012 (Rate/mn population)
Healthcare Activity
Healthcare Personnel
Key Healthcare Data
Table: Key Healthcare Data, 2008-2013
Industry Trends And Developments
Industry Trends & Developments
Regulatory Development
Medical Device Regulations
Competent Authority
Notified Body
EU Medical Device Regulations
Designated Authorities
Existing Regulations
Proposed Regulatory Changes
Implications For The Industry
Medical Device Pricing & Reimbursement
Competitive Landscape
Domestic Medical Device Production
Table: Medical Device Production By Product Area, 2009-2013 (EURmn)
Table: Medical Device Production By Detailed Product Area, 2009-2013 (EURmn)
Table: Medical Device Production By Detailed Product Area, 2009-2013 (US$mn)
Table: Medical Device Production By Detailed Product Area, 2009-2013 (% Total)
National Medical Device Manufacturers
Table: Suominen Corporation, Key Figures, 2009-2013
Multinational Medical Device Manufacturers
Multinational Market Activity
Table: Multinational Market Activity, 2014
Medical Device Market Access
Market Environment
Trade Organisations
Table: FiHTA Members, 2014
Table: Sai-Lab Members, 2014
Trade Shows
Methodology
Medical Device Market Methodology
Trade Code Classifications
Table: Used HS Trade Codes, 2014
Table: Rearranged HS Trade Codes, 2014
Risk/Reward Ratings Methodology
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
Sources
Contact

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