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The Medical Device Market: Germany
Espicom Business Intelligence Ltd, Oct 2011, Pages: 108
Germany is the third largest medical device market in the world, ranking behind the USA and Japan. In 2010, the German medical device market is estimated at US$19.5 billion, equal to US$240 per capita.
Although in decline, the population of Germany still accounts for around 20% of the total population of Western Europe with an estimated 81.6 million inhabitants in 2011.
At over 11% of GDP, healthcare expenditure is at a high level but is increasingly constrained. The domestic market remains tight, with continued downward pressure on prices. Government funding of hospitals in recent years has remained static, therefore hospitals in the public sector are maintaining existing equipment rather than investing in new appliances. This has led to domestic producers becoming increasingly reliant on the export market.
Germany has a history of producing high quality medical equipment, with particular emphasis on diagnostic imaging, dental products and optical technologies. The country has a handful of large producers, headed by Siemens, B. Braun and Fresenius. Total production is estimated to be in the region of 20 billion euros.
Despite a strong domestic manufacturing industry, imports, which totalled US$13.8 billion in 2009, supply around three-quarters of the medical market.
Following the re-election of Angela Merkel as Chancellor, Germany now has its first centre-right government in more than a decade. The coalition government comprising the centre-right Christian Democratic Union and the liberal Free Democratic Party has committed itself to a healthcare reform programme that aims to rein in expenditure growth, whilst increasing financial resources through higher health insurance contributions.
Major healthcare reforms were introduced in January 2004 and in July 2007. One of the aims has been to increase competition between health insurers, which in turn is giving rise to a more competitive operating environment for suppliers of healthcare goods and services.
Includes 3 quarterly updated outlook reports!
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