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The Medical Device Market: Germany
Espicom Business Intelligence Ltd, Sep 2009, Pages: 108
This in-depth medical device market report is ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Executive Summary
Germany is the third largest medical device market in the world. Germany accounts for around 6.0% of the total world market, ranking behind the USA and Japan. In 2009, the German medical device market is estimated at US$18.3 billion, equal to US$221 per capita.
Respected producer of high quality equipment. 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, Fresenius and B. Braun.
At around 10.6% 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 are maintaining existing equipment rather than investing in new appliances. This has led to domestic producers becoming increasingly reliant on the export market.
The current economic downturn has hit Germany in several ways. Most importantly, a severe recession - GDP is projected by the EIU to contract by 3.3% in 2009, with a further small fall in 2010 - is sure to place strain on health spending, especially on new and expensive equipment and treatments which could be classed as discretionary. Secondly, the downturn in other markets is a danger for the domestic production industry, which relies heavily on robust demand for its exports.
Major healthcare reforms were introduced in January 2004 and in July 2007. One of the aims was to reduce the average contribution rate to health insurance companies. Another was to reduce overall pharmaceutical expenditure, especially by the statutory health insurance (GKV). In both objectives, the government can claim some success. It remains to be seen whether the 2007 reforms are far-reaching enough to gain the desired results.
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