Industry research
Scope
Europe
Companies
57
Table of contents
Key takeaways
Company benchmarking
Market growth
MedTech Europe (September 2022) valued the European MedTech industry at ~€150bn in 2021, with the medical consumables segment growing at a ~6.3% CAGR in 2017-2021
The global disposable medical supplies market was valued at ~$105bn in 2021 and is projected to surpass $150bn by 2026, demonstrating a CAGR of ~7.8% during the period (Technavio, September 2022)
Positive drivers
Ageing EU population with the percentage of people aged >60 expected to rise from ~26% in 2021 to ~36% in 2100, corresponding to an absolute increase of ~33m (World Economic Forum, September 2022). As a result, public expenditure on healthcare due to this demographic development is projected to increase by ~1.2pp of EU GDP over 2019-2070 (European Commission, May 2021)
Internationalisation of markets yields additional growth potential by uncovering new demand, particularly in emerging economies (Coloplast, November 2022). For instance, China’s healthcare spending has increased by >9% annually per capita (OECD, 2022). This effect is boosted by increasing medical knowledge over time, thereby creating significant demand for consumables
ESG is projected to contribute towards sustaining a competitive advantage in the medium term, with several KPIs already being affected by current initiatives (Coloplast, November 2022). The race towards sustainability is likely to yield margin improvements through cost reductions, as well as generate additional demand through green product development (HARTMANN Group, March 2022)
Negative drivers
Price pressure from increasing customer concentration and churn as hospitals consolidate procurement through large-sized purchasing associations. This risk will be further amplified by the low degree of diversification in the industry and market entry of low-cost Asian players, whose product quality is improving considerably (interview by Gain.pro)
Regulatory requirements are increasingly hard to meet and ever-changing (HARTMANN Group, March 2022). Even though medical consumables are not highly challenged through far-reaching frameworks such as the EU MDR introduced in 2021, governmental rules across the world have the potential to increase downward pressure on margins
COVID-19-induced risk aversion spilling over into other medical segments, illustrated by customers’ preference for established goods and brands over new product innovations. The overall market impact is estimated to be negative since new innovations are less likely to be explored and demanded (interview by Gain.pro)
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A clear overview of all active investors in the industry
An in-depth look into 57 private companies, incl. financials, ownership details and more.
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ESG assessments with highlighted ESG outperformers
