The medical equipment segment
remains profitable throughout Europe’s ‘Big Five’ economies, and
market information provider Espicom estimates the market will
continue to grow in the next five years.
The potential for lessors is
significant. In a 2008 report on healthcare, entitled Frozen
Capital in European Healthcare, Siemens Financial Services said 50
percent of annual spending on healthcare equipment is
“leasable”.
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The Siemens study also noted that
€13.1 billion could be freed in the main European economies through
more efficient financing of medical equipment purchases. The lessor
estimates that, while spending on medical devices has increased by
an average of 20 percent, leasing has only grown by 6.4
percent.
Eucomed, the European trade
association for medical technology manufacturers and suppliers,
estimates that medical technology has an average lifecycle of only
18 months before an improved product becomes available. Leasing
therefore provides an attractive product for healthcare providers
to refresh their equipment on a regular basis.
From a geographical perspective,
Espicom believes Spain will see the most growth, with a compounded
annual growth rate of 9 percent through 2013.
The German medical equipment
marketplace – the largest in Europe – is expected to grow at 8.9
percent, to reach €17.2 billion by 2013. Espicom estimates that
“the market overall should continue to be lucrative”.
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By GlobalDataIn the UK, Espicom forecasts the
market will experience “above-average growth” over the next five
years, although the current economic turmoil may affect future
public spending.
The third largest European medical
equipment marketplace is France, where Espicom rates healthcare
expenditure as “very strong”.
A major hospital investment programme
will significantly boost spending on capital equipment, led by a
five-year cancer plan that makes investment in radiology and
oncology equipment a priority. Espicom has calculated there are
only eight MRI scanners per million population against 20 per
million population in Germany – and investment is likely to focus
on improving this ratio.
Looking at Southern Europe, Italy’s
Ministry of Health has recently embarked on a programme of
large-scale investment in the health service. Espicom rates
healthcare expenditure as “strong” with investment being focused on
preventative care.
While Spain is expected to grow the
most with a CAGR of 9 percent through 2013, the Spanish market is
currently the fifth smallest in the EU. Espicom believes the ageing
population will play a key role in expanding the market as there is
more demand for the latest technology and medical devices.
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