Boston, MA -- (SBWIRE) -- 06/17/2013 -- 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.
With a population of around 4.1 million, the Republic of Ireland represents a small but advanced market for medical equipment. The country has experienced rapid economic growth over the past 20 years, and has invested in large scale renovation and redevelopment of its healthcare infrastructure. This continues today, with an especial emphasis on improving long-term and elderly care facilities.

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That said, the country currently has experienced an unpredecentedly severe economic downturn, with GDP falling in real terms by over 7% in 2009 and not expected to record positive growth again until 2012. The government faces an extremely tight financial operating environment in the next few years. It has attempted to ringfence health spending as far as possible. Patient charges were raised in 2009, and the 2010 HSE National Service Plan envisages cuts and efficiency savings in some areas, but overall levels of health provision should be maintained at 2009 levels. Further deterioriation in public finances may lead to greater pressure on capital budgets in particular.

Following the general election in February 2011, the new government has indicated that it wishes to make a number of reforms, including the replacement of the HSE by a system of Universal Health Insurance by 2016, and the devolving of hospital management to individual hospital boards.

Ireland has positioned itself as an attractive European manufacturing location for medical firms from the USA and elsewhere. It offers financial incentives for companies wishing to relocate, an English speaking workforce and ready access to the wider EU market. As a result, most large US medical firms have some manufacturing capacity in Ireland. Only a very small proportion of this is intended for the domestic market, however. The presence of so many US manufacturers has turned Ireland into one of the world’s leading exporters of medical equipment. The total stood at just under US$9.0 billion in 2009. The bulk of this is either exported back to the USA or on to other EU countries.

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