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The Medical Device Market: UK
Management Report
Published: September 2009
Pages: 236
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 UK has one of the largest medical device markets in the world, valued at US$7.8 billion in 2009. The domestic market is the third largest in Europe behind Germany and France. Per capita expenditure is not much lower in comparison to France and Germany and is equal to US$125. The UK market for medical devices is predicted to increase by 5.4% per annum at constant prices to attain a value of US$10.1 billion by 2014.
There was a period of huge growth in health spending under the Labour government, which saw the NHS budget almost triple. In 2009, the NHS budget is £98.2 billion, and will rise to £102.3 billion in 2010. However, as a result of the economic downturn, NHS funding could fall by 2.5 to 3.0 per cent per annum from 2011/12, which is equivalent to a cut of between £8 to 10 billion over three years and up to £15 billion over five years. The NHS is well equipped to deal with the financial shortage, as it has seen marked improvements in recent years.
In an effort to reduce waiting lists, the government is contracting private organisations to operate and manage independent treatment centres. In addition, as part of the Patient Choice scheme, NHS patients can now choose to have a minor operation in a private hospital and over 3,500 patients a month opt to be treated in the private sector.
The growth of the UK medical device market is predominantly import-led as many domestic manufacturers are not able to rapidly adjust to changes in demand. This led to a trade deficit for the seventh year in succession in 2008.
Payment by Results represents a dramatic change in how the NHS is financed and is key to the government’s healthcare modernisation plans. The Payment by Results scheme, combined with Patient Choice, effectively means that hospitals are competing for patients, and while this offers the opportunity to drive up standards of healthcare, it also creates an unprecedented level of financial risk for Primary Care Trusts and NHS hospitals.
There was a period of huge growth in health spending under the Labour government, which saw the NHS budget almost triple. In 2009, the NHS budget is £98.2 billion, and will rise to £102.3 billion in 2010. However, as a result of the economic downturn, NHS funding could fall by 2.5 to 3.0 per cent per annum from 2011/12, which is equivalent to a cut of between £8 to 10 billion over three years and up to £15 billion over five years. The NHS is well equipped to deal with the financial shortage, as it has seen marked improvements in recent years.
In an effort to reduce waiting lists, the government is contracting private organisations to operate and manage independent treatment centres. In addition, as part of the Patient Choice scheme, NHS patients can now choose to have a minor operation in a private hospital and over 3,500 patients a month opt to be treated in the private sector.
The growth of the UK medical device market is predominantly import-led as many domestic manufacturers are not able to rapidly adjust to changes in demand. This led to a trade deficit for the seventh year in succession in 2008.
Payment by Results represents a dramatic change in how the NHS is financed and is key to the government’s healthcare modernisation plans. The Payment by Results scheme, combined with Patient Choice, effectively means that hospitals are competing for patients, and while this offers the opportunity to drive up standards of healthcare, it also creates an unprecedented level of financial risk for Primary Care Trusts and NHS hospitals.