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Ireland Medical Device Market 2018 Forecasts

With a population of around 4.6mn, the Republic of Ireland represents a small but advanced market for medical equipment. Prior to the global recession and Ireland's financial assistance package from the EU, IMF and ECB in 2010, the country had experienced rapid economic growth and had invested in largescale renovation and redevelopment of its healthcare infrastructure.

The government faces an extremely tight financial operating environment in the next few years. It has attempted to ringfence health spending as far as possible. Patient charges were raised in 2009, and the 2010 HSE National Service Plan envisaged cuts and efficiency savings in some areas, but levels of spending have plummeted since the intervention of the IMF and European institutions. In its seventh review of Ireland's economic assistance package, the EC, ECB and IMF requested details as to how the government plans to cut spending on healthcare, not least because it posted a financial deficit of EUR399bn in the first nine months of 2012.

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In July 2012 the Department of Health published the Health (Pricing and Supply of Medical Goods) Bill 2012, which was passed in May 2013 and due to become into law by mid-2013. This incorporates a range of cost-cutting measures, including generic drug substitution and outlines the procedures regarding the supply of medicines and medical equipment to patients. The government also plans to improve efficiencies in hospitals as a means of cutting costs. Other changes ahead include the Health Insurance (Amendment) Bill 2012, which introduces new regulations regarding health insurance and will almost certainly lead to higher premiums for patients.

Ireland has positioned itself as an attractive European manufacturing location for medical firms from the USA and elsewhere. It offers financial incentives for companies wishing to relocate, an English speaking workforce, access to finance, advanced research and development services and ready access to the wider EU market. As a result, most large US medical firms have some manufacturing capacity in Ireland. Only a very small proportion of this is intended for the domestic market, however. The presence of so many US manufacturers has turned Ireland into one of the world's leading exporters of medical equipment. The total stood at US$9.4bn in 2012. The bulk of this is either exported back to the USA or on to other EU countries.

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Table of Contents

Espicom Industry View   7
Espicom Industry View      7
SWOT     9
Medical Device Market      9
Economic    11
Political     12
Industry Forecast     13
Medical Device Market Forecast    13
Past Performance 2008-2013    13
Future Performance 2013-2018    15
Table: Projected Medical Device Market, 2013-2018     16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)   17
Table: Detailed Medical Device Market By Product Area (US$ Per Capita), 2008-2018  20
Table: Detailed Medical Device Market By Product Area, % Of Total, 2008-2018  23
Table: Detailed Medical Device Market By Product Area (US$mn, % Change)   27
Consumables Market Forecast    30
Table: Consumables Market, 2008-2018 (US$mn)  30
Table: Consumables Market, 2008-2018 (US$ Per Capita)    32
Table: Consumables Market, 2009-2018 (US$mn % Change)    33
Diagnostic Imaging Market Forecast     35
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)     36
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)   38
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)     39
Dental Products Market Forecast   41
Table: Dental Products Market, 2008-2018 (US$mn)     42
Table: Dental Products Market, 2008-2018 (US$ Per Capita)  42
Table: Dental Products Market, 2009-2018 (US$mn % Change)     43
Orthopaedics & Prosthetics Market Forecast  45
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)   46
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)   46
Table: Orthopaedics & Prosthetics Market, 2009-2018 (% Change)     47
Patient Aids Market Forecast     48
Table: Patient Aids Market, 2008-2018 (US$mn)    49
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)   49
Table: Patient Aids Market, 2009-2018 (US$mn % Change)   50
Other Medical Devices Market Forecast    52
Table: Other Medical Devices, 2008-2018 (US$mn)  53
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)  54
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)      55
Annual Medical Device Imports     57
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)      60
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)  61
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)     62
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)      63
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)      65
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)   68
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution)     69
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)    70
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)  71
Table: Detailed Medical Device Import Trends By Product Area, 2012      74
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)  78
Monthly Medical Device Imports    82
Table: Monthly Medical Device Imports By Product Area, September 2010 - August 2013 (US$mn)     82
Annual Medical Device Exports     84
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)      86
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)  87
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)     88
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)      89
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)      91
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s)      93
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution)  94
Table: Top 20 Medical Device Destinations, 2012 (US$000s)    95
Table: Detailed Medical Device Exports By Product Area, 2012 (US$000s)   96
Table: Detailed Medical Device Export Trends By Product Area, 2012      99
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)     103
Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s)   106
Monthly Medical Device Exports     110
Table: Monthly Medical Device Exports By Product Area, September 2010 - August 2013 (US$mn)      110
Macroeconomic Forecasts  112
Economic Activity    112
Table: IRELAND - ECONOMIC ACTIVITY  116
Industry Risk Reward Ratings      117
Industry Risk Reward Ratings   117
Table: Espicom Analysis Of The Medical Device Market, 2013     117
Market Overview     119
Medical Device Market Overview     119
Oveview     119
Table: Medical Device Market, Key Ratios    120
The Market In 2013     120
Table: Medical Device Market By Product Area, 2013   121
Healthcare Overview     123
Healthcare System      123
Health Reforms     124
Health Insurance   125
Health Expenditure     125
Medical Technology     127
Table: Diagnostic Imaging Technology By Type, 2005-2012    127
Key Data     128
Table: Key Data, 2008-2013  128
Industry Trends And Developments   131
Industry Trends & Developments     131
Regulatory Development  134
Medical Device Regulations     134
Competent Authority     134
Notified Body   134
Medical Device Pricing & Reimbursement   136
Competitive Landscape   137
Domestic Medical Device Production    137
Table: Medical Device Production By Product Area, 2008-2012 (EURmn)   137
Table: Medical Device Production By Product Area, 2008-2012 (US$mn)   140
Domestic Medical Device Manufacturing    143
National Medical Device Manufacturers     144
Multinational Medical Device Manufacturers  147
Multinational Market Activity   153
Table: Multinational Activity   153
Medical Device Market Access     153
Market Environment     153
Distribution     153
Trade Organisations     154
Trade Fairs     154
Methodology     155
Table: Used HS Trade Codes, 2013     156
Table: Rearranged HS Trade Codes, 2013    158