2021
9
UK Medical Equipment Market Report 2021
2021-11-13T03:17:26+00:00
OX1050511
1495
145260
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Report
en_GB
“As new technologies and data analytics capabilities create opportunities for companies in the surgical, diagnostic and healthcare monitoring sectors, these companies must work with partners that bring knowledge and capabilities…

UK Medical Equipment Market Report 2021

£ 1,495 (Excl.Tax)

Description

The UK Medical Equipment report identifies consumer attitudes towards medical equipment, hospital supplies and medical equipment production in the UK. This market report covers the market size, market forecast, market segmentation and industry trends for the Medical Equipment market in the UK. 

Current Market Landscape 

The medical equipment market operates in a global marketplace, with competition not restricted by geographical location. This is reflected in the purchasing policies and procedures of the NHS as it sources products and services internationally. The UK has the third largest medical equipment market in Europe, behind Germany and France.

In 2021, the uk medical equipment market share had an estimated value of £6.35 billion. The UK procurement system has undergone radical change in recent years to maintain a tight control over costs. Historically, procurement has shifted from centralised purchasing to decentralised purchasing, and back again. The NHS Supply Chain and the Department of Health face challenges and opportunities in strategically managing new budgetary spends, as well as efficiency savings, targeted for healthcare.

Future Market Trends in Medical Equipment 

Until the onset of the pandemic, demand in the market had been significantly affected by government policy to reduce public spending and the budget deficit. Following the global financial crisis, the Department of Health set the NHS a target of achieving £20 billion in efficiency savings, with up to 40% based on changing procurement and supply management processes. The immediate impact of the pandemic on the healthcare industry was the slowdown of elective procedures and care, and even procedures conventionally considered to be non-elective.

The COVID-19 pandemic’s impact on supply and demand greatly disrupted this market in 2020 with companies, such as GE Healthcare, challenged to secure used assets whilst demand spiked for new and refurbished equipment to care for COVID-19 patients. Besides the lockdowns themselves, the public’s fear of becoming infected in a healthcare setting and uncertainty about available medical services have created a reluctance to seek medical attention that has been slow to recover. This has created the need for virtual and remote care, with the most significant being telehealth.

Read on to discover more details or take a look at all of our UK Industrial market research.

Quickly understand

  • The impact of COVID-19 on medical equipment and how companies have reacted to the new market conditions.
  • How the medical equipment market will adapt to the post-COVID-19 environment.
  • The value of individual market segments in 2021.
  • The projected value of the market between 2022 and 2026.

Expert analysis from a specialist in the field

This report, written by Lewis Cone, a leading analyst in the B2Bsector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

As new technologies and data analytics capabilities create opportunities for companies in the surgical, diagnostic and healthcare monitoring sectors, these companies must work with partners that bring knowledge and capabilities beyond the traditional medical equipment and supplies market.
Lewis Cone - Research AnalystLewis Cone
Senior B2B Analyst

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • COVID-19: market context
    • Economic and other assumptions
    • Products covered in this Report
  2. Executive Summary

    • COVID-19 and medical equipment
      • Figure 1: Expected impact of COVID-19 on medical equipment, short, medium, and long term, 2020-25
    • The market
    • COVID-19 sees market value decline as focus shifts to virus containment and emergency medical procedures
      • Figure 2: UK market for medical equipment, 2017-21, (£ million at MSP)
    • Value of medical equipment has declined whilst value of supplies has risen
      • Figure 3: Segmentation of the UK market for medical equipment, 2017-21, (£ million at MSP)
    • Imports and exports of medical equipment expected to decline in 2021
      • Figure 4: UK imports of medical equipment, 2017-21, (£ million at CIF)
      • Figure 5: UK exports of medical equipment, 2017-21, (£ million at FOB)
    • Market forecast to grow by 15% to 2026, but supply chain processes must be protected to ensure demands are met
      • Figure 6: UK market forecast for medical equipment, 2022-26, (£ million at 2021 prices)
    • Companies and brands
  3. Issues and Insights

    • Pandemic has highlighted supply issues but has also led to solutions so these issues are not repeated in the future
    • UK seeks to strengthen regulation that helps bolster the industry after leaving the EU
  4. Market Size

    • COVID-19 sees market value decline as focus shifts to virus containment and emergency procedures only
      • Figure 7: UK market for medical equipment, 2017-21, (£ million at MSP)
  5. Market Segmentation

      • Figure 8: Segmentation of the UK market for medical equipment, by type, 2017-21, (£ million at MSP)
  6. Market Forecast

    • Short-, medium- and long-term impact on the industry
      • Figure 9: Expected impact of COVID-19 on medical equipment, short, medium and long term, 2020-25
    • Market drivers and assumptions
      • Figure 10: Key drivers affecting Mintel’s market forecast, 2016-25, (in % annual change, millions and % annual rise)
    • Learnings from the last recession
      • Figure 11: Industry performance following the last recession, 2010-2015, (£ million)
    • Market forecast to grow by 15% to 2026, but supply chain processes must be protected to ensure equipment and supply demands are met
      • Figure 12: UK market forecast for medical equipment, 2022-26, (£ million at 2021 prices)
    • Value of equipment sales to rise as backlog in treatment reaches a critical point, whilst value of supplies to diminish as the threat of COVID-19 begins to ease
      • Figure 13: Market segmentation forecast of the UK medical equipment market, 2022-26, (£ million at 2021 prices)
  7. The Impact of the Economy

    • UK economy returns to growth following record contraction in 2020 but supply chain concerns remain
      • Figure 14: GDP growth rate, Q2 2017 – Q2 2021, (% change on previous quarter)
    • Bank rate remains at record low but inflationary pressure could lead to a rise
      • Figure 15: Bank rate, 2008-2020, by date of adjustment, (%)
  8. Market Trends

    • X-rays are the most commonly performed imaging activity, but staff shortages could derail attempts at reducing backlog
      • Figure 16: Count of imaging activity in England, on NHS patients, April to July, 2020 and 2021, (number of patients)
    • 3D printing has helped to fill supply chain gaps
  9. Supply Sources

    • Production
      • Figure 17: UK production of medical equipment, 2017-21, (£ million at MSP)
      • Figure 18: Segmentation of the UK production of medical equipment, by type, 2017-21, (£ million at MSP)
    • Imports
      • Figure 19: UK imports of medical equipment, 2017-21, (£ million at CIF)
      • Figure 20: Segmentation of UK imports of medical equipment, 2017-21, (£ million at CIF)
    • Exports
      • Figure 21: UK exports of medical equipment, 2017-21, (£ million at FOB)
      • Figure 22: Segmentation of UK exports of medical equipment, 2017-21, (£ million at FOB)
  10. Market Drivers

    • The COVID-19 pandemic response continues to drive demand for certain products whilst also stretching supply chain capabilities
    • Backlog in healthcare treatment and diagnosis, alongside a rise in the number of people with chronic illnesses, increases the need for effective equipment and devices
      • Figure 23: People with long-term and chronic illnesses in England, 2015/16-2020/21, (million and % growth)
    • Life expectancy stalls but UK’s population continues to age, underpinning demand for intensive healthcare
      • Figure 24: UK population estimate and projection, by age group, 2021 and 2026, (000 people)
    • Real-terms NHS spending and capital expenditure significantly rose in 2020/21, but trusts’ deficit remains
      • Figure 25: NHS expenditure in England, in real terms, 2017/18-2021/22*, (£ billion)
      • Figure 26: NHS capital expenditure in England, in real terms, 2017/18-2021/22*, (£ billion)
    • Brexit brings a new regulatory environment and potential supply chain pressures
    • Regulations
    • Companies increase R&D investment as digitalisation and pandemic response pull focus
      • Figure 27: R&D investment by healthcare equipment companies, 2019, (€ million and %)
    • Number of specialist healthcare facilities rises as pandemic drives the need for non-hospital visit services
      • Figure 28: Number of hospitals, general and special medical practices in the UK, 2017-21, (number)
    • Value of new construction work rises in both the public and private sector and is expected to be boosted further by P23
      • Figure 29: New work construction in the public and private health sectors, in Great Britain, 2015-19, (£ million)
  11. Industry Structure

    • Industry development
    • New medical device database created for businesses and hospitals
    • Industry deals and M&As
    • Industry structure
      • Figure 30: Analysis of the structure of the medical and dental instruments and supplies manufacturing industry, 2017-21, (number of outlets and businesses)
      • Figure 31: Analysis of the structure of the irradiation, electro-medical and electrotherapeutic manufacturing industry, 2017-21, (number of outlets and businesses)
      • Figure 32: Analysis of the structure of the wholesale of pharmaceutical goods industry, 2017-21, (number of outlets and businesses)
    • Structure by employment
      • Figure 33: Analysis of the employment structure of the medical and dental instrument manufacturing industry, 2020-21, (number of outlets)
      • Figure 34: Analysis of the employment structure of the irradiation, electro-medical and electrotherapeutic manufacturing industry, 2020-21, (number of outlets)
      • Figure 35: Analysis of the wholesale of pharmaceutical goods industry, 2020-21, (number of outlets)
    • Structure by turnover
      • Figure 36: Analysis of the financial structure of the medical and dental instrument manufacturing industry 2020-21, (£ 000 and number of companies)
      • Figure 37: Analysis of the financial structure of the irradiation, electro-medical and electrotherapeutic industry, 2020-21, (£ 000 and number of companies)
      • Figure 38: Analysis of the financial structure of the wholesale of pharmaceutical goods industry, 2020-21, (£ 000 and number of companies)
  12. Competitive Strategies

    • Imbio partners with Heart&Lung Health to help identify lung and cardiac conditions
    • GE Healthcare and GenesisCare aim to improve outcomes for cancer and heart disease patients
  13. Company Profiles

    • Abbott Laboratories
    • Recent company activity
    • Financial information
      • Figure 39: Financial analysis of Abbott Laboratories, 2015-19, (£ million)
    • Baxter Healthcare
    • Recent company activity
    • Financial information
      • Figure 40: Financial analysis of Baxter Healthcare, 2015-19, (£ million)
    • BD (Becton, Dickinson and Company) UK
    • Recent company activity
    • Financial information
      • Figure 41: Financial analysis of BD UK, 2016-20, (£ million)
    • Corin Group
    • Recent company activity
    • GE Medical Systems
    • Recent company activity
    • Financial information
      • Figure 42: Financial analysis of GE Medical Systems, 2016-20, (£ million)
    • Johnson & Johnson Medical
    • Recent company activity
    • Financial information
      • Figure 43: Financial analysis of Johnson & Johnson Medical, 2016-19^, (£ million)
    • Smith & Nephew
    • Recent company activity
    • Financial Information
      • Figure 44: Financial analysis of Smith & Nephew, 2016-20, ($ million)
  14. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Methodology
  15. Further Sources and Contacts

    • Trade associations
    • Trade magazines
    • Trade exhibitions

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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