Fast Market Research recommends "The Medical Device Market: Denmark" from Espicom Business Intelligence, now available
Boston, MA -- (SBWIRE) -- 02/22/2013 -- 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$1,736.3 million in 2011, equal to US$311 per capita. The market is expected to expand by 2.3% over the next few years to reach US$1,945.7 million by 2016, equal to US$343 per capita.
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Denmark has a stable political system and a prosperous economy. However, it has been affected by the global economic downturn, with two consecutive years of negative GDP growth (-1.1%, -5.2% in 2008 and 2009) before GDP recovered in 2010 (1.7%) according to figures from the Economist Intelligence Unit. From 2012, there will be growth at less than 2% for the next three years.
The latest trade data for Danish medical device equipment showed that in the 12 months up to June 2011, imports increased by 4.3%, whilst exports rose 14.0% in US dollar terms. Denmark maintained its positive balance of trade. Economic growth is expected to be negligible in 2012, with maximum growth of 2% over the next few years.
Healthcare expenditure is estimated at US$37.7 billion in 2011, a per capita spend of US$6,745 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 2009, this amounted to US$898.8 million. Imports and exports have seen strong growth over recent years; imports increased by a CAGR of 12.7% in the period 2005 to 2009, while exports increased by a CAGR of 6.9% 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 appliance. Production of other needles, catheters and cannulae and hearing aids are significant reaching US$666.5 million and US$571.9 million respectively in 2010.
Includes 3 quarterly updated outlook reports!
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