The Medical Device Market: Ireland

The Medical Device Market: Ireland

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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.

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.

Related Pages

The Medical Device Market Greece

The Medical Device Market Italy


Table of Contents

Espicom Industry View
Espicom Industry View
SWOT
Medical Device Market
Economic
Political
Industry Forecast
Medical Device Market Forecast
Past Performance 2008-2013
Future Performance 2013-2018
Table: Projected Medical Device Market, 2013-2018
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
Table: Detailed Medical Device Market By Product Area (US$ Per Capita), 2008-2018
Table: Detailed Medical Device Market By Product Area, % Of Total, 2008-2018
Table: Detailed Medical Device Market By Product Area (US$mn, % Change)
Consumables Market Forecast
Table: Consumables Market, 2008-2018 (US$mn)
Table: Consumables Market, 2008-2018 (US$ Per Capita)
Table: Consumables Market, 2009-2018 (US$mn % Change)
Diagnostic Imaging Market Forecast
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
Dental Products Market Forecast
Table: Dental Products Market, 2008-2018 (US$mn)
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
Table: Dental Products Market, 2009-2018 (US$mn % Change)
Orthopaedics & Prosthetics Market Forecast
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
Table: Orthopaedics & Prosthetics Market, 2009-2018 (% Change)
Patient Aids Market Forecast
Table: Patient Aids Market, 2008-2018 (US$mn)
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
Other Medical Devices Market Forecast
Table: Other Medical Devices, 2008-2018 (US$mn)
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
Annual Medical Device Imports
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)
Ireland Medical Devices Report Q1

Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution)
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)
Table: Detailed Medical Device Import Trends By Product Area, 2012
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
Monthly Medical Device Imports
Table: Monthly Medical Device Imports By Product Area, September 2010 - August 2013 (US$mn)
Annual Medical Device Exports
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s)
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution)
Table: Top 20 Medical Device Destinations, 2012 (US$000s)
Table: Detailed Medical Device Exports By Product Area, 2012 (US$000s)
Table: Detailed Medical Device Export Trends By Product Area, 2012
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s)
Monthly Medical Device Exports
Table: Monthly Medical Device Exports By Product Area, September 2010 - August 2013 (US$mn)
Macroeconomic Forecasts
Economic Activity
Table: IRELAND - ECONOMIC ACTIVITY
Industry Risk Reward Ratings
Industry Risk Reward Ratings
Table: Espicom Analysis Of The Medical Device Market, 2013