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UK Medical Equipment market report

"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
        • Decline in market value expected in 2017
          • Figure 1: UK market for medical equipment, 2013-17, (£ million at MSP)
          • Figure 2: Segmentation of the UK market for medical equipment, by type, 2013-17, (£ million at MSP)
        • Market factors
          • Increase in real terms NHS spending and capital expenditure expected for 2017/18
            • Figure 3: NHS expenditure in England, in real terms, 2013/14-2017/18*, (£ billion)
          • Uncertainty around the outcome of Brexit has weakened the short-term economic outlook and could affect industry development
            • Supply sources
              • Figure 4: UK production of medical equipment, 2013-17, (£ million at MSP)
            • Forecast
              • NHS funding pressure will continue to undermine growth development from underlying factors
                • Figure 5: UK medical equipment market forecast, 2018-22, (£ million at 2017 prices)
              • Value of equipment sales expected to rise due to higher production costs, but value of supplies likely to remain constant as purchasers target savings
                • Figure 6: UK market segmentation forecast for the medical equipment market, by type, 2018-22, (£ million at 2017 prices)
              • What we think
              • Key Insights

                  • How will collaborations between medical equipment companies and pharmaceuticals benefit the industry?
                    • How are technology and innovation changing the industry?
                    • Introduction

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

                                      • Key points
                                        • Overview
                                          • Figure 7: Forecast GDP development 2017-21, (% annual growth)
                                          • Figure 8: UK GDP quarterly development, 2007-17, (% quarterly growth and GDP in £ billion)
                                        • Inflation
                                          • Interest rates
                                            • House prices
                                              • Figure 9: UK house price changes, 2006-17, (12 month % change)
                                            • Consumer spending
                                              • Manufacturing
                                                • Figure 10: UK manufacturing, 2014-17, (index, 2013 = 100)
                                              • Business investment
                                                • Figure 11: UK GFCF, 2007-17, (£ million, chained volume measures, seasonally adjusted)
                                              • Imports
                                                • Exports
                                                • Market Factors

                                                  • Key points
                                                    • The number of people with chronic illnesses continues to rise - increasing the burden on healthcare services
                                                      • Figure 12: People with long-term and chronic illnesses, in England, 2008/09-2016/17, (million)
                                                      • Figure 13: People with long-term and chronic illnesses in England, 2008/09 and 2016/17, (million)
                                                    • The UK’s ageing population underpins demand for intensive healthcare
                                                      • Figure 14: UK population estimate and projection, by age group, 2017 and 2021, (000 people)
                                                      • Figure 15: UK population estimate and projection, by age group, 2017 and 2021, (% of total population)
                                                    • Increase in real terms NHS spending and capital expenditure expected for 2017/18
                                                      • Figure 16: NHS expenditure in England, in real terms, 2013/14-2017/18*, (£ billion)
                                                      • Figure 17: NHS expenditure in England, in real terms, 2013/14-2017/18*, (£ billion)
                                                      • Figure 18: NHS capital expenditure in England, in real terms, 2013/14-2017/18*, (£ billion)
                                                      • Figure 19: NHS capital expenditure in England, in real terms, 2013/14-2017/18*, (£ billion)
                                                    • Uncertainty around the outcome of Brexit has weakened short-term economic outlook and could affect industry development
                                                      • Companies increase R&D investment as companies target most efficient products in restrictive spending environment
                                                        • Figure 20: R&D investment by healthcare equipment companies, 2016/17, (€ million and %)
                                                      • Rising demand for healthcare services has expanded the number of UK healthcare facilities
                                                        • Figure 21: Number of hospitals/general and special medical practices in the UK, 2013-17, (number)
                                                        • Figure 22: Number of hospitals/general and special medical practices in the UK, 2013-17, (number)
                                                      • Value of new construction work has risen in the public sector but stagnated in the private sector
                                                        • Figure 23: New work construction in the public and private health sectors, in Great Britain, 2012-16, (£ million)
                                                        • Figure 24: New work construction in the public and private health sectors, in Great Britain, 2012-16, (£ million)
                                                    • Market Size

                                                      • Key points
                                                        • Planned healthcare budgets could be affected by weaker economic growth, while procurement efficiency gaps remain among trusts
                                                          • Decline in market value expected in 2017
                                                            • Figure 25: UK market for medical equipment, 2013-17, (£ million at MSP)
                                                            • Figure 26: UK market for medical equipment, 2013-17, (£ million at MSP)
                                                          • Market segmentation
                                                              • Figure 27: Segmentation of the UK market for medical equipment, by type, 2013-17, (£ million at MSP)
                                                              • Figure 28: Segmentation of the UK market for medical equipment, by type, 2013-17, (£ million at MSP)
                                                          • Market Trends

                                                            • Key points
                                                              • More healthcare providers are leasing and renting equipment
                                                                • Current equipment stock remains under-utilised
                                                                  • Level of subcontracting of low-value product manufacture to developing countries is on the rise
                                                                    • Industry consolidation continues, but general low asset availability has increased deal prices
                                                                    • Supply Sources

                                                                      • Key points
                                                                        • Production
                                                                          • Figure 29: UK production of medical equipment, 2013-17, (£ million at MSP)
                                                                          • Figure 30: UK production of medical equipment, 2013-17, (£ million at MSP)
                                                                          • Figure 31: Segmentation of the UK production of medical equipment, by type, 2013-17, (£ million at MSP)
                                                                          • Figure 32: Segmentation of the UK production of medical equipment, by type, 2017, (£ million at MSP)
                                                                        • Imports
                                                                          • Figure 33: UK imports of medical equipment, 2013-17, (£ million at CIF)
                                                                          • Figure 34: UK imports of medical equipment, 2013-17, (£ million at CIF)
                                                                          • Figure 35: Segmentation of UK imports of medical equipment, by type, 2013-17, (£ million at CIF)
                                                                          • Figure 36: Segmentation of UK imports of medical equipment, by type, 2017, (£ million at CIF)
                                                                        • Exports
                                                                          • Figure 37: UK exports of medical equipment, 2013-17, (£ million at FOB)
                                                                          • Figure 38: UK exports of medical equipment, 2013-17, (£ million at FOB)
                                                                          • Figure 39: Segmentation of UK exports of medical equipment, by type, 2013-17, (£ million at FOB)
                                                                          • Figure 40: Segmentation of UK exports of medical equipment, by type, 2017, (£ million at FOB)
                                                                      • Industry Structure

                                                                        • Key points
                                                                          • Industry development
                                                                            • Industry structure
                                                                              • Figure 41: Analysis of the changes in the structure of the medical and dental instruments and supplies manufacturing industry, 2013-17, (number of outlets and businesses)
                                                                              • Figure 42: Analysis of the changes in the structure of the medical and dental instruments and supplies manufacturing industry, 2013-17, (number of outlets and businesses)
                                                                              • Figure 43: Analysis of the structure of the irradiation, electromedical and electrotherapeutic manufacturing industry, 2013-17, (number of outlets and businesses)
                                                                              • Figure 44: Analysis of the structure of the irradiation, electromedical and electrotherapeutic manufacturing industry, 2013-17, (number of outlets and businesses)
                                                                            • Structure by employment
                                                                              • Figure 45: Analysis of the employment structure of the medical and dental instrument manufacturing industry, 2016-17, (number of outlets)
                                                                              • Figure 46: Analysis of the employment structure of the irradiation, electromedical and electrotherapeutic manufacturing industry, 2016-17, (number of outlets)
                                                                            • Structure by turnover
                                                                              • Figure 47: Analysis of the financial structure of the medical and dental instrument manufacturing sector, 2016-17, (£ 000 and number of companies)
                                                                              • Figure 48: Analysis of the financial structure of the irradiation, electromedical and electrotherapeutic sector, 2016-17, (£ 000 and number of companies)
                                                                          • Company Profiles

                                                                            • Abbott Laboratories

                                                                                  • Figure 49: Financial analysis of Abbott Laboratories, 2012-16, (£ million)
                                                                                • Company strategy
                                                                                • Atlas Copco Medical

                                                                                      • Figure 50: Financial analysis of Atlas Copco Medical, 2012-16, (£ million)
                                                                                    • Company strategy
                                                                                    • B. Braun Medical

                                                                                          • Figure 51: Financial analysis of B Braun Medical, 2012-16, (£ million)
                                                                                        • Company strategy
                                                                                        • Baxter Healthcare

                                                                                              • Figure 52: Financial analysis of Baxter Healthcare, 2012-16, (£ million)
                                                                                            • Company strategy
                                                                                            • Becton Dickinson

                                                                                                  • Figure 53: Financial analysis of Becton Dickinson UK, 2012-16, (£ million)
                                                                                                • Company strategy
                                                                                                • Clement Clarke International

                                                                                                      • Figure 54: Financial analysis of Clement Clarke International, 2012-16, (£ million)
                                                                                                    • Company strategy
                                                                                                    • Corin Group

                                                                                                          • Figure 55: Financial analysis of Corin Orthopaedics Holdings, 2013-16, (£ 000)
                                                                                                        • Company strategy
                                                                                                        • GE Medical Systems

                                                                                                              • Figure 56: Financial analysis of GE Medical Systems, 2012-16, (£ million)
                                                                                                            • Company strategy
                                                                                                            • Johnson & Johnson Medical

                                                                                                                  • Figure 57: Financial analysis of Johnson & Johnson Medical, 2012-17***, (£ million)
                                                                                                                • Company strategy
                                                                                                                • Oxford Instruments

                                                                                                                      • Figure 58: Financial analysis of Oxford Instruments, 2013-17, (£ million)
                                                                                                                    • Company strategy
                                                                                                                    • Smith & Nephew

                                                                                                                          • Figure 59: Financial analysis of Smith & Nephew, 2012-16, ($ million)
                                                                                                                        • Company strategy
                                                                                                                        • Spacelabs Healthcare

                                                                                                                              • Figure 60: Financial analysis of Spacelabs Healthcare, 2012-16, (£ million)
                                                                                                                            • Company strategy
                                                                                                                              • Figure 61: Profiled companies’ combined turnover, 2012-16, (£ million)
                                                                                                                          • Forecast

                                                                                                                            • Key points
                                                                                                                              • NHS funding pressure will continue to undermine growth development from underlying factors
                                                                                                                                  • Figure 62: UK market forecast for medical equipment, 2018-22, (£ million at 2017 prices)
                                                                                                                                  • Figure 63: UK medical equipment market forecast, 2018-22, (£ million at 2017 prices)
                                                                                                                                • Value of equipment sales expected to rise due to higher production costs, but value of supplies expected to remain constant as purchasers target savings
                                                                                                                                    • Figure 64: Market segmentation forecast of the UK medical equipment market, 2018-22, (£ million at 2017 prices)
                                                                                                                                    • Figure 65: UK market segmentation forecast for the medical equipment market, 2018-22, (£ million at 2017 prices)
                                                                                                                                  • Changes to NHS procurement could place further strain on suppliers’ margins
                                                                                                                                  • Further Sources and Contacts

                                                                                                                                    • Trade associations
                                                                                                                                      • Association of British Healthcare Industries
                                                                                                                                        • Association of Healthcare Technology Providers for Imaging, Radiotherapy and Care (formerly Association of X-ray Equipment Manufacturers)
                                                                                                                                          • British Anaesthetic & Respiratory Equipment Manufacturers Association
                                                                                                                                            • British Dental Industry Association
                                                                                                                                              • British In Vitro Diagnostics Association
                                                                                                                                                • British Institute of Radiology
                                                                                                                                                  • British Medical Association
                                                                                                                                                    • GAMBICA: Automation, Instrumentation & Control Laboratory Testing
                                                                                                                                                      • Medilink UK
                                                                                                                                                        • Royal Microscopical Society
                                                                                                                                                          • Surgical Dressings Manufacturers’ Association
                                                                                                                                                            • Trade magazines
                                                                                                                                                              • The Clinical Services Journal
                                                                                                                                                                • Healthcare Design & Management
                                                                                                                                                                  • Medical Device Developments
                                                                                                                                                                    • Trade exhibitions
                                                                                                                                                                      • Digital Health World Congress 2018
                                                                                                                                                                        • Medtec Europe 2018
                                                                                                                                                                          • Med-Tech Innovation Expo 2018