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The Medical Device Market: Denmark
Management Report
Published: September 2009
Pages: 140
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 595.00 Buy Now!
Research from: Espicom
Sector: Medical Devices
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
The size of the Danish medical device market is estimated to be US$2,161 million in 2009, equal to US$394 per capita. The market is expected to expand by 11.6% over the next few years to reach US$3,738 million by 2014, equal to US$671 per capita.
Denmark has a stable political system and a stable economy. However, Denmark is likely to be affected by the global economic downturn, with GDP real growth expected to fall to -3.5% in 2009, according to figures from the Economist Intelligence Unit, and gradually rising to reach a real growth of 2.0% in 2014.
Healthcare expenditure has continued its steady growth in the past few years, increasing by 7.1% to reach DKK118.3 billion (US$21.7 billion) in 2007, with private expenditure accounting for around 16% of the total.
There are many domestic medical device manufacturers, some of whom have a global presence. This has resulted in a balance of trade surplus for many years. In 2008, this amounted to US$977.1 million. Imports and exports have seen strong growth over recent years; imports increased by a CAGR of 16.9% in the period 2004 to 2008, while exports increased by a CAGR of 10.7% in the same period. Many imports are used in the assembly of medical devices, and are then exported.
Denmark’s domestic manufacturers are mainly in the fields of diagnostics and orthopaedic & prosthetic appliances, especially hearing aids. There has been a sharp rise in the amount of X-ray apparatus production recently, with a large increase in the production of X-ray tubes, in particular, in 2007, when they were valued at DKK8.7 billion (US$1.6 billion).
Denmark has a stable political system and a stable economy. However, Denmark is likely to be affected by the global economic downturn, with GDP real growth expected to fall to -3.5% in 2009, according to figures from the Economist Intelligence Unit, and gradually rising to reach a real growth of 2.0% in 2014.
Healthcare expenditure has continued its steady growth in the past few years, increasing by 7.1% to reach DKK118.3 billion (US$21.7 billion) in 2007, with private expenditure accounting for around 16% of the total.
There are many domestic medical device manufacturers, some of whom have a global presence. This has resulted in a balance of trade surplus for many years. In 2008, this amounted to US$977.1 million. Imports and exports have seen strong growth over recent years; imports increased by a CAGR of 16.9% in the period 2004 to 2008, while exports increased by a CAGR of 10.7% in the same period. Many imports are used in the assembly of medical devices, and are then exported.
Denmark’s domestic manufacturers are mainly in the fields of diagnostics and orthopaedic & prosthetic appliances, especially hearing aids. There has been a sharp rise in the amount of X-ray apparatus production recently, with a large increase in the production of X-ray tubes, in particular, in 2007, when they were valued at DKK8.7 billion (US$1.6 billion).