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Medical Equipment - UK - December 2015

“The medical equipment sector is expected to see continued consolidation both globally and in the UK in the coming years. Companies across the industry will continue to see a diverse product portfolio as the best way to secure growth and market share. With recent stagnation in public healthcare spending in the UK and other western countries, companies are starting to explore opportunities in other parts of the world.”
– Lewis Cone, B2B Analyst

This report discusses the following key questions:

  • How can manufacturers maximise sales in a climate of restrictive health expenditure and efficiency targets?
  • What sectors of the medical equipment market are expected to provide the best growth prospects?
  • How will impending regulatory changes in the EU impact manufacturers of medical equipment?
  • How can manufacturers best respond to the threat from new market entrants from the technology sector?
  • What does the future hold for the industry?

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Table of contents

  1. Executive Summary

      • Market size
        • Figure 1: UK Market for Medical Equipment, 2011-2015, (£ Million at MSP)
        • Figure 2: Segmentation of the UK Market for Medical Equipment, by Type, 2011-15, (£ Million at MSP)
      • Market factors
        • A rising number of people with chronic illnesses is increasing the burden on healthcare services
          • The UK’s ageing population underpins demand for intensive healthcare
            • Government pledges to increase NHS budget with an increase in real terms capital spending also expected
              • Supply sources
                • Figure 3: UK Production of Medical Equipment, 2011-15, (£ Million at MSP)
              • Companies
                • Forecast
                  • Real-term annual rise in NHS spending to 2020/21 provides possible boost to industry
                    • Underlying factors indicate rising demand for healthcare services that will still provide opportunities for the industry
                      • Figure 4: UK Market Forecast for Medical Equipment, 2016-20, (£ Million at 2015 prices)
                    • Sales of equipment products expected to grow market share over the next five years
                      • Figure 5: UK Market Segmentation Forecast for Medical Equipment, by Type, 2016-20, (£ Million at 2015 prices)
                    • What we think
                    • Key Insights

                        • How is the industry adapting to healthcare market trends?
                          • Is industry consolidation expected to continue?
                            • How are the emerging markets driving market development?
                              • What is the outlook for the medical equipment industry?
                              • Introduction

                                  • Definitions
                                    • Methodology
                                      • Abbreviations
                                        • Market positioning
                                          • The customer
                                            • The supplier
                                              • The regulatory environment
                                              • UK Economy

                                                • Key points
                                                  • Overview
                                                    • Figure 6: UK GDP, 2004-2015, (% Quarterly Growth and GDP in £ billion)
                                                    • Figure 7: Quarters after GDP Peak, 1979, 1990 and 2008, (Number of Quarters and GDP as % of Pre-Downturn Peak)
                                                  • Inflation
                                                    • Interest rates
                                                      • House prices
                                                        • Consumer spending
                                                          • Manufacturing
                                                            • Business investment
                                                              • Figure 8: UK GFCF 2003-15, (£ million)
                                                            • Imports
                                                              • Exports
                                                              • Market Factors

                                                                • Key points
                                                                  • A rising number of people with chronic illnesses is increasing the burden on healthcare services
                                                                    • Figure 9: People with Long-Term and Chronic Illnesses, in England, 2006/07-2014/15, (Million)
                                                                    • Figure 10: People with Long-Term and Chronic Illnesses, in England, 2006/07 and 2014/15, (Million)
                                                                  • The UK’s ageing population underpins demand for intensive healthcare
                                                                    • Figure 11: UK Population Estimate and Projection, by Age Group, 2015 and 2020, (Million)
                                                                    • Figure 12: UK Population Estimate and Projection, by Age Group, 2015 and 2020, (% of Total Population)
                                                                  • Government pledges to increase NHS budget, with an increase in real terms capital spending also expected
                                                                    • Figure 13: NHS Expenditure in England, in Real Terms, 2011/12-2015/16, (£ Billion)
                                                                    • Figure 14: NHS Expenditure in England, in Real Terms, 2011/12-2015/16, (£ Billion)
                                                                    • Figure 15: NHS Capital Expenditure in England, in Real Terms, 2011/12-2015/16, (£ Billion)
                                                                    • Figure 16: NHS Capital Expenditure in England, in Real Terms, 2011/12-2015/16, (£ Billion)
                                                                  • Growth in R&D investment by the largest European healthcare equipment companies
                                                                    • Figure 17: R&D Investment by European Healthcare Equipment Companies, 2014, (£ Million and %)
                                                                  • Growing demand for healthcare services has expanded the number of healthcare facilities
                                                                    • Figure 18: Number of Hospitals/General and Special Medical Practices in the UK, 2011-2015, (Number)
                                                                    • Figure 19: Number of Hospitals/General and Special Medical Practices in the UK, 2011-2015, (Number)
                                                                  • Despite an increase in the number of facilities, the value of new construction work in the health sector is on a downward trend – implying smaller builds
                                                                    • Figure 20: New Work Construction in the Public and Private Health Sectors, in Great Britain, 2010-14, (£ Million)
                                                                    • Figure 21: New Work Construction in the Public and Private Health Sectors, in Great Britain, 2010-2014, (£ Million)
                                                                • Market Size

                                                                  • Key points
                                                                    • Rising healthcare budget improves potential outlook, but efficiency savings have dampened growth
                                                                        • Figure 22: UK Market for Medical Equipment, 2011-15, (£ Million at MSP)
                                                                        • Figure 23: UK Market for Medical Equipment, 2011-2015, (£ Million at MSP)
                                                                      • Market segmentation
                                                                        • The need to replace obsolete equipment, amid a rising number of chronic illnesses and hospital use by an ageing and rising population, drives market growth
                                                                            • Figure 24: Segmentation of the UK Market for Medical Equipment, by Type, 2011-15, (£ Million at MSP)
                                                                            • Figure 25: Segmentation of the UK Market for Medical Equipment, by Type, 2011-15, (£ Million at MSP)
                                                                        • Market Trends

                                                                          • Key points
                                                                            • The drive to innovate and the use of new technology, at both the production and usage stage, is vital in reducing costs and protecting fragile margins
                                                                              • Homecare and mobile health equipment are helping reduce unnecessary, or avoidable, hospital and doctor use...
                                                                                • ...however there is still a need for satisfactory resources at health facilities
                                                                                  • Companies preparing for the implementation of new regulatory change
                                                                                    • Further industry consolidation as margins remain exposed to challenging market environment
                                                                                        • Figure 26: UK Mergers and Acquisition Deals, by Equipment Segment, 2014, (% of Deals)
                                                                                        • Figure 27: UK Mergers and Acquisition Deals, by Equipment Segment, 2014, (% of Deals)
                                                                                    • Supply Sources

                                                                                      • Key points
                                                                                        • Production
                                                                                          • Figure 28: UK Production of Medical Equipment, 2011-15, (£ Million at MSP)
                                                                                          • Figure 29: UK Production of Medical Equipment, 2011-15, (£ Million at MSP)
                                                                                          • Figure 30: Segmentation of the UK Production of Medical Equipment, by Type, 2011-15, (£ Million at MSP)
                                                                                          • Figure 31: Segmentation of the UK Production of Medical Equipment, by Type, 2015 (£ Million at MSP)
                                                                                        • Imports
                                                                                          • Figure 31: UK Imports of Medical Equipment, 2010-14, (£ Million at CIF)
                                                                                          • Figure 31: UK Imports of Medical Equipment, 2010-14, (£ Million at CIF)
                                                                                          • Figure 32: Segmentation of UK Imports of Medical Equipment, by Type, 2010-14, (£ Million at CIF)
                                                                                          • Figure 32: Segmentation of UK Imports of Medical Equipment, by Type, 2014, (£ Million at CIF)
                                                                                        • Exports
                                                                                          • Figure 33: UK Exports of Medical Equipment, 2010-14, (£ Million at FOB)
                                                                                          • Figure 33: UK Exports of Medical Equipment, 2010-14, (£ Million at FOB)
                                                                                          • Figure 34: Segmentation of UK Exports of Medical Equipment, by Type, 2010-14, (£ Million at FOB)
                                                                                          • Figure 34: Segmentation of UK Exports of Medical Equipment, by Type, 2014, (£ Million at CIF)
                                                                                      • Industry Structure

                                                                                        • Key points
                                                                                          • Industry development
                                                                                              • Figure 35: Analysis of the Changes in the Structure of the Medical and Dental Instruments and Supplies Manufacturing Industry, 2011-15, (Number of Outlets and Businesses)
                                                                                              • Figure 35: Analysis of the Changes in the Structure of the Medical and Dental Instruments and Supplies Manufacturing Industry, 2011-15, (Number of Outlets and Businesses)
                                                                                              • Figure 36: Analysis of the Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2011-15, (Number of Outlets and Businesses)
                                                                                              • Figure 36: Analysis of the Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2011-15, (Number of Outlets and Businesses)
                                                                                            • Structure by employment
                                                                                              • Figure 37: Analysis of the Employment Structure of the Medical and Dental Instrument Manufacturing Industry, 2014-15, (Number of Outlets)
                                                                                              • Figure 38: Analysis of the Employment Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2014-15, (Number of Outlets)
                                                                                            • Structure by turnover
                                                                                              • Figure 39: Analysis of the Financial Structure of the Medical and Dental Instrument Manufacturing Sector, 2014-15, (£ 000 and Number of Companies)
                                                                                              • Figure 40: Analysis of the Financial Structure of the Irradiation, Electromedical and Electrotherapeutic Sector, 2014-15, (£ 000 and Number of Companies)
                                                                                          • Company Profiles

                                                                                            • Abbott Laboratories

                                                                                                  • Figure 41: Financial Analysis of Abbott Laboratories, 2010-14, (£ Million)
                                                                                                • Company outlook
                                                                                                • Atlas Copco Medical

                                                                                                      • Figure 42: Financial Analysis of Atlas Copco Medical, 2010-14, (£ Million)
                                                                                                    • Company outlook
                                                                                                    • B. Braun Medical

                                                                                                          • Figure 43: Financial analysis of B Braun Medical, 2010-14, (£ Million)
                                                                                                        • Company outlook
                                                                                                        • Baxter Healthcare

                                                                                                              • Figure 44: Financial Analysis of Baxter Healthcare, 2010-14, (£ Million)
                                                                                                            • Company outlook
                                                                                                            • Becton Dickinson

                                                                                                                  • Figure 45: Financial Analysis of Becton Dickinson UK, 2010-14, (£ Million)
                                                                                                                • Company outlook
                                                                                                                • Clement Clarke International

                                                                                                                      • Figure 46: Financial Analysis of Clement Clarke International, 2010-14, (£ Million)
                                                                                                                    • Company outlook
                                                                                                                    • Corin Group

                                                                                                                          • Figure 47: Financial Analysis of Corin Group, 2010-14, (£ Million)
                                                                                                                        • Company outlook
                                                                                                                        • GE Medical Systems

                                                                                                                            • Figure 48: Financial Analysis of GE Medical Systems, 2010-14, (£ Million)
                                                                                                                          • Company outlook
                                                                                                                          • Johnson & Johnson Medical

                                                                                                                                • Figure 49: Financial Analysis of Johnson & Johnson Medical, 2010-14, (£ Million)
                                                                                                                              • Company outlook
                                                                                                                              • Oxford Instruments

                                                                                                                                    • Figure 50: Financial Analysis of Oxford Instruments, 2011-15, (£ Million)
                                                                                                                                  • Company outlook
                                                                                                                                  • Smith & Nephew

                                                                                                                                        • Figure 51: Financial Analysis of Smith & Nephew, 2010-14, ($ Million)
                                                                                                                                      • Company outlook
                                                                                                                                      • Spacelabs Healthcare

                                                                                                                                          • Figure 52: Financial Analysis of Spacelabs Healthcare, 2010-14, (£ Million)
                                                                                                                                        • Company outlook
                                                                                                                                          • Figure 52: Profiled Companies’ Combined Turnover, 2010-2014, (£ Million)
                                                                                                                                      • Forecast

                                                                                                                                        • Key points
                                                                                                                                          • Real-term annual rise in NHS spending to 2020/21 provides possible boost to industry
                                                                                                                                            • Underlying factors indicate rising demand for healthcare services, which will still provide opportunities for the industry
                                                                                                                                              • Figure 53: UK Market Forecast for Medical Equipment, 2016-20, (£ Million at 2015 prices)
                                                                                                                                              • Figure 53: UK Market Forecast for Medical Equipment, 2016-20, (£ Million at 2015 prices)
                                                                                                                                            • Medical equipment products sector, excluding supplies, is expected to increase its market share over the next five years
                                                                                                                                              • Figure 54: UK Market Segmentation Forecast for Medical Equipment, by Type, 2016-20, (£ Million at 2015 prices)
                                                                                                                                              • Figure 54: UK Market Segmentation Forecast for Medical Equipment, by Type, 2016-20, (£ Million at 2015 prices)
                                                                                                                                            • Technological and innovation drive, particularly in the 3D printing industry, is vital to market development over the foreseeable future
                                                                                                                                              • Further industry consolidation and collaborations between companies could help lead to the necessary efficiency improvements to ensure market progress
                                                                                                                                              • Further Sources and Contacts

                                                                                                                                                • Trade associations
                                                                                                                                                  • Trade magazines
                                                                                                                                                    • Trade exhibitions

                                                                                                                                                    Companies Covered

                                                                                                                                                    To learn more about the companies covered in this report please contact us.

                                                                                                                                                    Medical Equipment - UK - December 2015

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