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Viewing report
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The Medical Device Market: Finland
Espicom Business Intelligence Ltd, Oct 2011, Pages: 72
Finland is one of the northernmost countries in Europe and covers around 338,000km2, of which 10% is water. The population is estimated at 5.4 million in 2011.
The Finnish market for medical devices is predicted to increase by 2.8% per annum to attain a value of US$1,103 million by 2016. The current medical device market size is estimated to be US$960 million, equal to US$179 per capita.
For April 2010 to March 2011, imports totalled US$793.6 million and exports US$1,347.7 million, maintaining Finland’s positive balance of trade. Exports of dental products, the largest category, were up 1.8% to US$311.7 million.
The public health system has developed from a hospital-centred model into a system where the main emphasis is on prevention, promotion and primary services. A new Health Care Act proposed in June 2010, which will give patients more choice about where they are treated, is the first part of a total reform of the health and social system that the Finnish government wants to introduce.
Healthcare expenditure is estimated at US$25.6 billion in 2011, over three quarters of which is public
Finland suffered an economic slump in 2009, with GDP growth falling a revised 7.5%, according to figures from the Economist Intelligence Unit. It began to recover in 2010, with growth of 1.4%, and is predicted to grow 3.4% in 2011.
Domestic production of medical devices is from many small scale enterprises, focussing on niche markets. The largest domestic producer, Instrumentarium, became a subsidiary of GE in 2004.
Includes 3 quarterly updated outlook reports!
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