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Medical Devices Market in Finland to Grow by a CAGR of 2.6% from 2013 to Attain a Value of US$1.2bn by 2018

ResearchMoz added Latest Research Report titled " Finland Medical Devices Industry - Worldwide Industry Research, Analysis, Shares, Size, Trends, Growth and Survey report" to it's Large Report database.


Albany, NY -- (SBWIRE) -- 02/11/2016 -- 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.

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.

Development policies and plans are discussed as well as manufacturing processes and Bill of Materials cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.

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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.

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