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Medical Equipment - UK - December 2016

“Driven by the ageing population, there remains a significant drive to develop equipment and devices that can both help treat age-related conditions and attack chronic diseases. However, manufacturers must also contain costs as the healthcare industry remains in a period of restrictive budgets.”
– Lewis Cone, B2B Analyst

This report answers the following 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 Brexit impact manufacturers of medical equipment?
  • How can manufacturers best respond to the threat of 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
        • Moderate market growth expected in 2016
          • Figure 1: UK Market for Medical Equipment, 2012-2016, (£ Million at MSP)
          • Figure 2: Segmentation of the UK Market for Medical Equipment, by Type, 2012-16, (£ Million at MSP)
        • Market factors
          • Increase in real terms NHS spending and capital spending expected for 2016/17
            • Figure 3: NHS Expenditure in England, in Real Terms, 2012/13-2016/17*, (£ Billion)
          • ... but these plans may be subject to change depending on the impact Brexit negotiations have on the economy
            • The UK’s ageing population underpins demand for intensive healthcare
              • Supply sources
                • Figure 4: UK Production of Medical Equipment, 2012-16, (£ Million at MSP)
              • Companies
                  • Figure 5: Profiled Companies’ Combined Turnover, 2011-2015, (£ Million)
                • Forecast
                  • NHS funding pressure will undermine strong growth potential from underlying factors
                    • Figure 6: UK Medical Equipment Market Forecast, 2017-21, (£ Million at 2016 prices)
                  • Sales of supplies expected to decline as purchasers seek savings
                    • Figure 7: UK Market Segmentation Forecast for the Medical Equipment Market, by Type, 2017-21, (£ Million at 2016 prices)
                  • What We Think
                  • Key Insights

                      • What actions undertaken to meet efficiency savings by the NHS have impacted the industry?
                        • How could the UK’s exit from the European Union affect the industry?
                          • How will the market perform over the foreseeable future?
                          • Introduction

                              • Definitions
                                • Methodology
                                  • Abbreviations
                                  • Market Positioning

                                      • The Customer
                                        • The Supplier
                                          • The Regulatory Environment
                                          • UK Economy

                                            • Key Points
                                              • Overview
                                                • Figure 8: UK GDP, 2006-2016, (% Quarterly Growth and GDP in £ Billion)
                                                • Figure 9: UK Output, by Industry, 2008-2016, (Index 2013 = 100)
                                                • Figure 10: Quarters after GDP Peak, 1979, 1990 and 2008, (Number of Quarters and GDP as % of PreDownturn Peak)
                                              • Inflation
                                                • Interest rates
                                                  • House prices
                                                    • Figure 11: UK House Price changes, 2006-2016, (12-month % change)
                                                  • Consumer spending
                                                    • Manufacturing
                                                      • Figure 12: UK Manufacturing, 2014-16, (Index, 2013 = 100)
                                                    • Business investment
                                                      • Figure 13: UK GFCF 2005-15, (£ Million)
                                                    • Imports
                                                      • Exports
                                                      • Market Factors

                                                        • Key Points
                                                          • The number of people with chronic illnesses continues to rise - increasing the burden on healthcare services
                                                            • Figure 14: People with Long-Term and Chronic Illnesses, in England, 2007/08-2015/16, (Million)
                                                            • Figure 15: People with Long-Term and Chronic Illnesses in England, 2007/08 and 2015/16, (Million)
                                                          • The UK’s ageing population underpins demand for intensive healthcare
                                                            • Figure 16: UK Population Estimate and Projection, by Age Group, 2016 and 2020, (Million)
                                                            • Figure 17: UK Population Estimate and Projection, by Age Group, 2016 and 2020, (% of Total Population)
                                                          • Increase in real terms NHS spending and capital spending expected for 2016/17...
                                                            • Figure 18: NHS Expenditure in England, in Real Terms, 2012/13-2016/17*, (£ Billion)
                                                            • Figure 19: NHS Expenditure in England, in Real Terms, 2012/13-2016/17*, (£ Billion)
                                                            • Figure 20: NHS Capital Expenditure in England, in Real Terms, 2012/13-2016/17*, (£ Billion)
                                                            • Figure 21: NHS Capital Expenditure in England, in Real Terms, 2012/13-2016/17*, (£ Billion)
                                                          • ... but these plans may be subject to change depending on the impact Brexit negotiations have on the economy
                                                            • Companies have invested more in R&D as physicians help pinpoint key areas
                                                                • Figure 22: R&D Investment by European Healthcare Equipment Companies, 2015/16, (( Million and %)
                                                              • Rising healthcare services demand has led to an expansion in the number of UK healthcare facilities
                                                                • Figure 23: Number of Hospitals/General and Special Medical Practices in the UK, 2012-2016, (Number)
                                                                • Figure 24: Number of Hospitals/General and Special Medical Practices in the UK, 2012-2016, (Number)
                                                              • Value of new construction work has stagnated with the number of smaller builds on the rise
                                                                • Figure 25: New Work Construction in the Public and Private Health Sectors, in Great Britain, 2011-15, (£ Million)
                                                                • Figure 26: New Work Construction in the Public and Private Health Sectors, in Great Britain, 2011-2015, (£ Million)
                                                            • Market Size

                                                              • Key Points
                                                                • Planned healthcare budget improvements could be affected by economic uncertainties, with efficiency saving targets unlikely to be met
                                                                  • Moderate market growth expected in 2016
                                                                    • Figure 27: UK Market for Medical Equipment, 2012-16, (£ Million at MSP)
                                                                    • Figure 28: UK Market for Medical Equipment, 2012-2016, (£ Million at MSP)
                                                                  • Market Segmentation
                                                                      • Figure 29: Segmentation of the UK Market for Medical Equipment, by Type, 2012-16, (£ Million at MSP)
                                                                      • Figure 30: Segmentation of the UK Market for Medical Equipment, by Type, 2012-16, (£ Million at MSP)
                                                                  • Market Trends

                                                                    • Key Points
                                                                      • Manufacturers focusing on innovative products to boost margins in a cost-wary healthcare industry...
                                                                        • ... while also offering healthcare providers the option of leasing and renting equipment
                                                                          • Equipment is currently being under-utilised
                                                                            • Fewer M&A deals due to recent industry consolidation making asset availability scarce
                                                                                • Figure 31: UK Mergers and Acquisition Deals, by Equipment Segment, 2014 and 2015, (% of Deals)
                                                                                • Figure 32: UK Mergers and Acquisition Deals, by Equipment Segment, 2014 and 2015, (% of Deals)
                                                                            • Supply Sources

                                                                              • Key Points
                                                                                • Production
                                                                                  • Figure 33: UK Production of Medical Equipment, 2012-16, (£ Million at MSP)
                                                                                  • Figure 34: UK Production of Medical Equipment, 2012-16, (£ Million at MSP)
                                                                                  • Figure 35: Segmentation of the UK Production of Medical Equipment, by Type, 2012-16, (£ Million at MSP)
                                                                                  • Figure 36: Segmentation of the UK Production of Medical Equipment, by Type, 2016, (£ Million at MSP)
                                                                                • Imports
                                                                                  • Figure 37: UK Imports of Medical Equipment, 2012-16, (£ Million at CIF)
                                                                                  • Figure 38: UK Imports of Medical Equipment, 2012-16, (£ Million at CIF)
                                                                                  • Figure 39: Segmentation of UK Imports of Medical Equipment, by Type, 2012-16, (£ Million at CIF)
                                                                                  • Figure 40: Segmentation of UK Imports of Medical Equipment, by Type, 2016, (£ Million at CIF)
                                                                                • Exports
                                                                                  • Figure 41: UK Exports of Medical Equipment, 2012-16, (£ Million at FOB)
                                                                                  • Figure 42: UK Exports of Medical Equipment, 2012-16, (£ Million at FOB)
                                                                                  • Figure 43: Segmentation of UK Exports of Medical Equipment, by Type, 2012-16, (£ Million at FOB)
                                                                                  • Figure 44: Segmentation of UK Exports of Medical Equipment, by Type, 2016, (£ Million at FOB)
                                                                              • Industry Structure

                                                                                • Key Points
                                                                                  • Industry Development
                                                                                    • Industry Structure
                                                                                      • Figure 45: Analysis of the Changes in the Structure of the Medical and Dental Instruments and Supplies Manufacturing Industry, 2012-16, (Number of Outlets and Businesses)
                                                                                      • Figure 46: Analysis of the Changes in the Structure of the Medical and Dental Instruments and Supplies Manufacturing Industry, 2012-16, (Number of Outlets and Businesses)
                                                                                      • Figure 47: Analysis of the Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2012-16, (Number of Outlets and Businesses)
                                                                                      • Figure 48: Analysis of the Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2012-16, (Number of Outlets and Businesses)
                                                                                    • Structure by Employment
                                                                                      • Figure 49: Analysis of the Employment Structure of the Medical and Dental Instrument Manufacturing Industry, 2015-16, (Number of Outlets)
                                                                                      • Figure 50: Analysis of the Employment Structure of the Irradiation, Electromedical and Electrotherapeutic Manufacturing Industry, 2015-16, (Number of Outlets)
                                                                                    • Structure by Turnover
                                                                                      • Figure 51: Analysis of the Financial Structure of the Medical and Dental Instrument Manufacturing Sector, 2015-16, (£ 000 and Number of Companies)
                                                                                      • Figure 52: Analysis of the Financial Structure of the Irradiation, Electromedical and Electrotherapeutic Sector, 2015-16, (£ 000 and Number of Companies)
                                                                                  • Company Profiles

                                                                                    • Abbott Laboratories

                                                                                          • Figure 53: Financial Analysis of Abbott Laboratories, 2011-15, (£ Million)
                                                                                        • Company Strategy
                                                                                        • Atlas Copco Medical

                                                                                              • Figure 54: Financial Analysis of Atlas Copco Medical, 2011-15, (£ Million)
                                                                                            • Company Strategy
                                                                                            • B. Braun Medical

                                                                                                  • Figure 55: Financial Analysis of B Braun Medical, 2011-15, (£ Million)
                                                                                                • Company Strategy
                                                                                                • Baxter Healthcare

                                                                                                      • Figure 56: Financial Analysis of Baxter Healthcare, 2011-15, (£ Million)
                                                                                                    • Company Strategy
                                                                                                    • Becton Dickinson

                                                                                                          • Figure 57: Financial Analysis of Becton Dickinson UK, 2011-15, (£ Million)
                                                                                                        • Company Strategy
                                                                                                        • Clement Clarke International

                                                                                                              • Figure 58: Financial Analysis of Clement Clarke International, 2011-15, (£ Million)
                                                                                                            • Company Strategy
                                                                                                            • Corin Group

                                                                                                                  • Figure 59: Financial Analysis of Corin Orthopaedics Holdings, 2013-15, (£ 000)
                                                                                                                • Company Strategy
                                                                                                                • GE Medical Systems

                                                                                                                    • Figure 60: Financial Analysis of GE Medical Systems, 2011-15, (£ Million)
                                                                                                                  • Company Strategy
                                                                                                                  • Johnson & Johnson Medical

                                                                                                                        • Figure 61: Financial Analysis of Johnson & Johnson Medical, 2011-16*, (£ Million)
                                                                                                                      • Company Strategy
                                                                                                                      • Oxford Instruments

                                                                                                                            • Figure 62: Financial Analysis of Oxford Instruments, 2012-16, (£ Million)
                                                                                                                          • Company Strategy
                                                                                                                          • Smith & Nephew

                                                                                                                                • Figure 63: Financial Analysis of Smith & Nephew, 2011-15, ($ Million)
                                                                                                                              • Company Strategy
                                                                                                                              • Spacelabs Healthcare

                                                                                                                                    • Figure 64: Financial Analysis of Spacelabs Healthcare, 2011-15, (£ Million)
                                                                                                                                  • Company Strategy
                                                                                                                                    • Figure 65: Profiled Companies’ Combined Turnover, 2011-2015, (£ Million)
                                                                                                                                • Forecast

                                                                                                                                  • Key Points
                                                                                                                                    • NHS funding pressure will undermine strong growth potential from underlying factors
                                                                                                                                        • Figure 66: UK Market Forecast for Medical Equipment, 2017-2021, (£ Million at 2016 prices)
                                                                                                                                        • Figure 67: UK Medical Equipment Market Forecast, 2017-21, (£ Million at 2016 prices)
                                                                                                                                      • Sales of supplies expected to decline as purchasers seek savings
                                                                                                                                          • Figure 68: Market Segmentation Forecast of the UK Medical Equipment Market, 2017-2021, (£ Million at 2016 prices)
                                                                                                                                          • Figure 69: UK Market Segmentation Forecast for the Medical Equipment Market, 2017-21, (£ Million at 2016 prices)
                                                                                                                                        • Economic uncertainty created by Brexit could add further barriers to market value growth
                                                                                                                                          • With challenging market conditions in the UK, companies are looking further afield for fresh opportunities
                                                                                                                                            • Technological and innovation development key to improving equipment affordability and capability
                                                                                                                                            • 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 2016

                                                                                                                                                  US $1,236.29 (Excl.Tax)