European Medical Device Company Profiles

Research Overview

This Frost & Sullivan research service titled European Medical Device Company Profiles provides profiles of key industry participants, competitive factors and strategic recommendations. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: anaesthetic and respiratory devices, cardiology and thoracic surgery devices, minimally invasive surgical devices, neurology and neuromuscular devices, ophthalmic and optical devices, orthopaedic and prosthetic devices, single-use surgical and disposables and wound care/management and biomaterials.

Innovative and Cost-effective Technology to Determine Competitive Success

The medical device industry is one of the most vital and dynamic sectors of the European economy. The industry is constantly driven by R&D, which needs to keep pace with the evolving demands of the medical fraternity. The global medical device market comprises three main regions - the United States, Europe and Japan. The United States represents the largest share with approximately 40 per cent, followed by the European Union (EU) countries with 30 per cent and rest of the world with 30 per cent.

A number of large international companies are active in the field of medical device manufacturing. Some, among these, are taking a leading position in the European market. "The European medical device market is highly fragmented, with numerous niche product lines representing modest market sizes," states the analyst of this research. "Companies involved in medical device manufacturing range from large corporations producing a broad range of devices and pursuing a global marketing strategy on a worldwide scale to small and medium companies concentrating on a single product line or on a specific geographic region."

The major competitors to European medical device manufacturers are traditionally from the United States and Japan. However, European manufacturers have a strong position in Europe, where approximately 78 per cent of the products sold are manufactured within the EU.

Despite the ongoing gloomy economic trends, most medical device companies report positive domestic and international sales growth and continued optimism about prospects for the industry in 2009. Despite the difficult economies in Europe and cost-containment policies in the healthcare environment, the medical device market is expected to grow at a constant pace and manufacturers capable of quickly adapting to market trends are likely to achieve greater profit margins. Emerging markets in Asia, eastern Europe and Latin America constitute areas of potential growth for European producers.

"Innovative and cost-effective products are likely to constitute the key elements of success in future," says the analyst. "The extent to which European producers continue to compete depends on their willingness to engage in product differentiation, increased R&D expenditure and a coordinated research and development policy with governing authorities."

Market Sectors

Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:

• Anaesthetic and respiratory devices
• Cardiology and thoracic surgery devices
• Minimally invasive surgical devices
• Neurology and neuromuscular devices
• Ophthalmic and optical devices
• Orthopaedic and prosthetic devices
• Single-use surgical and disposables
• Wound care/management and biomaterials