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The Medical Device Market: Norway
Management Report
Published: September 2009
Pages: 120
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 Norwegian medical device market is estimated to be US$1.1 billion in 2009, equal to US$233 per capita. The market is expected to grow by 8.4% per annum to reach US$1.7 billion by 2014, equal to US$340 per capita.
The population of Norway is estimated to be 4.8 million in 2009, with 14.8% of the total aged 65 years and over.
Norway has a stable, affluent economy but will nevertheless be affected by the global economic downturn. However, Norway’s economy is expected to recover much sooner than other Nordic countries. Real GDP growth is expected to fall to -2.0% in 2009, according to figures from the Economist Intelligence Unit, rising to 1.8% in 2011 and 2.1% in 2012.
Healthcare expenditure has continued its steady growth in recent years, increasing by 7.0% to reach NOK217.2 billion (US$38.5 billion) in 2008, with private expenditure accounting for around 16% of the total.
Due to the small scale of domestic production, any increases in market demand are likely to be met by imports. In 2007, imports were US$941.5 million, an increase of 10.7% over 2006, with a CAGR of 12.1% for the period between 2003 and 2007. There was a balance of trade deficit of US$585.5 million in 2007.
The population of Norway is estimated to be 4.8 million in 2009, with 14.8% of the total aged 65 years and over.
Norway has a stable, affluent economy but will nevertheless be affected by the global economic downturn. However, Norway’s economy is expected to recover much sooner than other Nordic countries. Real GDP growth is expected to fall to -2.0% in 2009, according to figures from the Economist Intelligence Unit, rising to 1.8% in 2011 and 2.1% in 2012.
Healthcare expenditure has continued its steady growth in recent years, increasing by 7.0% to reach NOK217.2 billion (US$38.5 billion) in 2008, with private expenditure accounting for around 16% of the total.
Due to the small scale of domestic production, any increases in market demand are likely to be met by imports. In 2007, imports were US$941.5 million, an increase of 10.7% over 2006, with a CAGR of 12.1% for the period between 2003 and 2007. There was a balance of trade deficit of US$585.5 million in 2007.