The Medical Device Market: UK
NEW YORK, Feb. 14, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue: The Medical Device Market: UK
The UK has one of the largest medical device markets in the world, valued at US$8.9 billion in 2012. The domestic market vies with France as the second largest in Europe behind Germany. Per capita expenditure is equal to US$142. The UK market for medical devices is predicted to increase by 6.0% per annum to attain a value of US$11.9 billion by 2017.
The growth of the UK medical device market is predominantly import-led as many domestic manufacturers are not able to rapidly adjust to changes in demand. This led to a succession of trade deficits since 2001. The import market has not been immune to the recession, faltering since mid 2008. However the total for the 12 months to March 2012 was US$7.3 billion, a 3.5% rise on the previous 12 month total, indicating a slow recovery.There was a period of huge growth in public health spending under the Labour government after 2001, which saw the NHS budget almost triple. In 2011, total health expenditure is estimated at £140.3 billion ( US$227.1 billion). Of this, £118 billion is public, equal to around 84% of the total. Expenditure is set to slow in the wake of the 2009 recession and enormous government deficit. The Conservative/Liberal-Democrat coalition government, elected May 2010, has pledged to maintain some sort of growth in recurrent health spending, although this may prove difficult. The latest published government plans involve a 9% cut in capital health spending in 2011. The coalition government has also unveiled a substantial reform programme for the management of the NHS. Under it, several layers of bureaucracy are to be removed, and General Practitioners given control of their own budgets. Patients are to be given the right to treatment in any public or private facility which charges according to the NHS Tariff. The plans ran into severe opposition in 2011, however, and a large number of amendments have been made to what was a complex bill to begin with. The legislation was passed by parliament in March 2012. PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTHEspicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide: Unique projected estimates of market size and growth for 33 equipment categories Five year statistical data for key economic and healthcare indicators Information on regulation, distribution and market access, including Espicom's unique distributor directory Detailed Medical trade data Data on leading local/multinational medical equipment players in the market
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