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The Medical Device Market: Switzerland
Espicom Business Intelligence Ltd, Oct 2011, Pages: 64
Switzerland represents a very rich market. The medical equipment & supplies market is estimated to be approximately US$4.7 billion in 2011, which is comparable to Australia. Per capita spending is the highest in the world by some margin at US$592.
The cost of health insurance is continuing to rise in 2011. Health insurance premiums have risen an average of 6.5%, or SFr 22.8 per month for 2011. Insurance rose 4.5% in Q1 2010 in relation to Q1 2009 and 12.4% over Q1 2008. The biggest rise for Q1 2010 was in ambulatory hospital treatments (up 9.7%) and the highest costs were for hospital stays. Basic health insurance coverage costs per person which is compulsory in Switzerland were SFr 3,138 in 2009 (+3.1% over 2008). Some families are finding it difficult to pay the monthly contributions.
In June 2010, the council approved the introduction of a tariff system for compulsory health insurance, which will be rolled out from 2012. This new income stream will go towards hospital financing which has been increasing sharply for the past few years.
Healthcare provision is largely decentralised, and paid for through a combination of public and private insurance. Hospitals, clinics and physicians are used to investing in the latest techniques and equipment, although an increasing culture of cost awareness is spreading throughout the healthcare system.
Domestic manufacturing of medical devices is very strong in Switzerland, especially in the orthopaedics sector. The country is one of the world’s leading exporters of devices in this sector.
Although Switzerland remains outside of the European Union, medical device regulations were officially aligned with European Law in March 2010. Medical technology products which include CT scans, diagnostic tests for medical implants such as pacemakers and artificial joints, are the subject of free trade between the EU and Switzerland.
A revision to the Federal Law on Technical Barriers to Trade (LETC) and an execution order came into effect from 1st July 2010. The LETC in Switzerland operates under the principle of the “Cassis de Dijon”. This means that products legally marketed in the EU or the EEA, will in principle be able to circulate freely in Switzerland without further checks.
Includes 3 quarterly updated outlook reports!
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