EMDT_European Medical Device Technology

EMDT Sourcebook 2015-2016

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Market Report 7 emdt.co.uk 2015 | The Source book next five years to meet the needs of the Five Year Forward review drawn up in 2014 by NhS england, which identified the need for an extra GbP30 billion (uSD45.5 billion) a year in funding by the end of the decade. Around GbP22 billion (uSD33.3 billion) of this target will come from efficiency sav- ings, including GP practices offering some hospital services, such as minor surgeries or scans. In FY 2015-16, NhS england plans to make available an extra GbP2.0 billion (uSD3.0 billion) for frontline services, help- ing to kick-start the investment needed to create new care models and further invest in primary care. The devolved administra- tions in Scotland, Wales and Northern Ireland will also receive extra funding. Despite the increase in funding, cost containment reminds high on the agenda, although this is presenting new oppor- tunities with the NhS keen to adopt new technologies that maximise stretched resources. under the latest proposal, NhS staff will be able to remotely monitor patients with long-term health conditions through high-tech clothing and wearable gadgets linked to medical records. health experts believe that the digital revolution will free up resources and save the NhS up to GbP5 billion (uSD7.9 billion) over the next decade. The aim is to have doctors and nurses able to access the latest lifesav- ing data across england for primary, urgent and emergency care services by 2018 and for all other NhS funded services to be accessible by 2020. Health Service Reforms Will Drive Above-Average Growth For Norway Norway is another market that will see above- average growth. The 2014-2019 cAGr in local currency terms is one of the highest in the region at 5.3%, which translates into a uS dol- lar cAGr of 3.9%. Norway already has a high- quality healthcare system with high levels of health expenditure, but the underdeveloped private sector has been a constraining factor. The conservative-led coalition government has drawn up a development programme that promises greater patient choice, reduced waiting times and faster medical care. The reforms are expected to pave the way for regional health authorities to conduct more purchasing from private companies through tenders. Public hospitals will also have increased freedom to treat more patients. Karen Simpkins is a medical device market analyst at Business Monitor International (BMI). Ricardo Vicente is head of medical device markets at BMI. The European event for medical device manufacturers and healthcare professionals to source technology and innovation Join us at Medtec Europe, an event providing you with access to leading component and service providers, free and high-level conference sessions and healthcare and research institutions that will provide you with direct access to patient needs. 12-14 April 2016 Messe Stuttgart, Germany Other events include: Find out more about the event or to register to attend, visit: www.medteceurope.com/europe Join the conversation @MedtecEurope Qmed.com/newsletters Sign up Today Stay on the medtech pulse with

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