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(Medical-NewsWire.com, February 12, 2016 ) BMI Industry View: Denmark represents a mature medical device market with above average per capita spending. The market is being constrained by slow economic growth, which is increasing pressure to scale back the country's generous welfare system. As such the market is only expected to show low growth with a US dollar CAGR of 1.9% forecast for the 2013-2018 period. Local production is focused on consumables and patient aids, primarily hearing aids, leaving the majority of the market heavily dependent on imports.
Headline Industry Forecasts
The medical device market is valued at USD1,587.3mn in 2013, equal to USD283 per capita. The market is projected to grow at a CAGR of 1.9% in US dollar terms and 3.8% in local currency terms over the 2013-2018 period to attain a value of USD1,740.2mn by 2018.
Medical device imports supply around 78% of the medical device market. Between 2008 and 2013, imports contracted by a CAGR of -1.2% in US dollar terms. The running annual total amounted to USD1,453.2mn in the 12 months to December 2014, representing a small y-o-y decline of 1.2% in US dollar terms.
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Medical device exports contracted by a CAGR of -1.4% in US dollar terms over the 2008-2013 period. The running annual total amounted to USD2,482.4mn in the 12 months to December 2014, representing a y-o-y increase of 0.9% in US dollar terms. The balance of trade surplus fell to below USD1.0bn in 2013.
Total medical device production is estimated to be in the region of USD3.0bn. The industry has particular strengths in hearing aids, consumables and electrodiagnostic apparatus. Leading national medical device manufacturers include Ambu, Coloplast, GN Resound, Guldmann, Novo Nordisk, Widex and William Demant. Others such as Dameca and Radiometer have been acquired by multinationals.
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Table of Content
Espicom Industry View
SWOT
Medical Device Market
Political
Economic
Business Environment
Industry Forecast
Medical Device Market Forecast
2008-2013 Performance
2013-2018 Performance
Table: Projected Medical Device Market, 2013-2018
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
Consumables Market Forecast
Bandages & Dressings
Suturing Materials
Syringes, Needles & Catheters
Other Consumables
Table: Consumables Market, 2008-2018 (US$mn)
Table: Consumables Market, 2009-2018 (US$mn % Change)
Diagnostic Imaging Market Forecast
Electrodiagnostic Apparatus
Radiation Apparatus
Imaging Parts & Accessories
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
Dental Products Market Forecast
Capital Equipment
Instruments & Supplies
Table: Dental Products Market, 2008-2018 (US$mn)
Table: Dental Products Market, 2009-2018 (US$mn % Change)
Orthopaedics & Prosthetics Market Forecast
Fixation Devices
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