australia medical devices report

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AUSTRALIA

Medical Devices Report

Q2 2014


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Australia Medical Devices ReportISSN 2053-8030

Copyright 2014 Espicom Business Intelligence

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Every care has been taken to ensure that the information contained in this report is correct. The publisher accepts no liability fordecisions made on the basis of information contained herein.

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CONTENTS

Espicom Industry View ....................................................................................................... 7

SWOT .................................................................................................................................... 9

Medical Device Market . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 9

Political ................................................................................................................................................. 10

Economic . .. .. .......................................................................................................................................... 11

Business Environment .............................................................................................................................. 12

Industry Forecast .............................................................................................................. 14

Medical DeviceMarket Forecast ........ ........ ......... ........ ....... ........................................................................ 14

Table: Projected Medical Device Market, 2013-2018 ............. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . 16

Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn) . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 17

Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita) . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 21

Table: DetailedMedical Device Market By Product Area, 2008-2018 (% Of Total) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$, % Change) . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 28

Consumables Market Forecast ....... ........ ......... ........ ........ ........ ........ ......... ........ ........ ........ ......... ........ ........ . 31

Table: Consumables Market, 2008-2018 (US$mn) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . 32

Table: Consumables Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Table: Consumables Market, 2009-2018 (US$mn % Change) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Diagnostic Imaging Market Forecast .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 36

Table: Diagnostic Imaging Market, 2008-2018 (US$mn) ....................... . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38

Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Dental Products Market Forecast .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 42

Table: Dental Products Market, 2008-2018 (US$mn) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Table: Dental Products Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Table: DentalProducts Market, 2009-2018 (US$mn % Change) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

Orthopaedics & Prosthetics Market Forecast ......... ........ ........ ........ ......... ........ ........ ........ ........ ......... ........ ..... 46

Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Table: Orthopaedics & Prosthetics Market, 2009-2018 (USmn % Change) ... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 48

Patient Aids Market Forecast ........ ........ ........ ........ ......... ........ ........ ........ ......... ........ ........ ........ ........ ......... .. 49

Table: Patient Aids Market, 2008-2018 (US$mn) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

Table: Patient Aids Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . 50

Table: Patient Aids Market, 2009-2018 (US$mn % Change) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Other MedicalDevices Market Forecast .. .. .. .. .. .. .. .. .. .. .. ................................................................................ 53

Table: OtherMedical Devices Market, 2008-2018 (US$mn) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54

Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Table: OtherMedical Devices Market, 2009-2018 (US$mn % Change) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56

Annual Medical Device Imports .. ............................................................................................................... 59

Table: Medical Device Imports By Product Area, 2008-2012 (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62

Table: Medical Device Imports By Product Area 2008-2012 (US$000s, % Change) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 63

Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 64

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Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change) . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 65

Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 66

Table: Leading Medical Device Suppliers By Product Area (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

Table: Leading Medical Device Suppliers By Product Area (% Distribution) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 68

Table: Top 20 Medical Device Suppliers (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 70

Table: Detailed Medical Device Import Trends By Product Area .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

Table: Detailed Leading Medical Device Suppliers By Product Area (US$000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 76

Monthly Medical Device Imports ... .. ........................................................................................................... 80

Table: MonthlyMedical Device Imports By Product Area, September 2010-October 2013 (US$mn) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 80

Annual Medical Device Exports .. ... ............................................................................................................ 83

Table: Medical Device Exports By Product Area, 2008-2012 (US$000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 85

Table: MedicalDevice Exports By Product Area, 2008-2012 (US$000s, % Change) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86

Table: MedicalDevice Exports By Product Area, 2008-2012 (Local Currency 000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . 87

Table: MedicalDevice Exports By Product Area, 2008-2012 (Local Currency 000s, % Change) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88

Table: MedicalDevice Exports By ProductArea, 2008-2012 (% Distribution) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89

Table: LeadingMedical Device Destinations By Product Area (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90

Table: LeadingMedical Device Destinations By Product Area (% Distribution) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

Table: Top 20Medical Device Destinations (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92

Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 93

Table: Detailed Medical Device Export Trends By Product Area .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96

Table: DetailedLeading Medical Device Destinations By Product Area (US$000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100

Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 103

Monthly Medical Device Exports .... .... .... .... .............................................................................................. 106

Table: Monthly Medical Device Exports By Product Area, September 2010-October 2013 (US$mn) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106

Macroeconomic Forecasts ............................................................................................. 108

Ongoing Misallocation Of Capital Increases Risks .. ................................................................................... 110Increasing Pressures For Greater Macro-Prudential Rules ........ ........ ........ ......... ........ ........ ........ ........ ......... 111

Table: Australia - Economic Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113

Industry Risk Reward Ratings ........................................................................................ 114

Table: Asia Pacific Medical Device Risk/Reward Ratings, Q214 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115

Market Overview ............................................................................................................. 116

Medical Device Market Overview .... .... ... .... .............................................................................................. 116

Table: MedicalDevice Market, Key Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117

Table: Medical Device Market By Product Area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118

Healthcare Overview ... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 119

Health Status ....................................................................................................................................... 119

Healthcare System ................................................................................................................................ 119

Healthcare Funding .............................................................................................................................. 121

Healthcare Resources ........................................................................................................................... 122

Table: Diagnostic Imaging Technology By Type, 2006-2012 .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

Table: Diagnostic Imaging Technology Per Million Population By Type, 2006-2012 . .. . . .. . .. . . .. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

Healthcare Activity .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 124

Healthcare Personnel ........................................................................................................................... 124

Key Data ............................................................................................................................................ 124

Table: Key Data, 2008-2013 .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. . . . . . . 124




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Industry Trends & Developments .................................................................................. 127

Industry Trends & Developments . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 127

Regulatory Development ................................................................................................ 132

Medical Device Regulations .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 132

Competent Authority ........ ........ ......... ........ ........ ........ ........ ......... ........ ........ ........ ......... ........ ........ ........ .. 132

Regulations . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 132

Australia New Zealand Therapeutic Products Authority .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 134

Competitive Landscape .................................................................................................. 136

Domestic Medical Device Production .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 136

National Medical Device Manufacturers .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 136

Multinational Medical Device Manufacturers .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 140

Multinational Market Activity .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 142

Table: Multinational Market Activity, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142

Methodology .................................................................................................................... 144

Medical Device Market Methodology . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 144

Trade Code Classifications ... ........ ......... ........ ........ ........ ......... ........ ........ ........ ......... ........ ........ ........ ...... 145

Table: Used HS Trade Codes, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145

Table: Rearranged HS Trade Codes, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147

Risk/Reward Ratings Methodology .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 150

Table: Medical Devices Risk/Reward Ratings Indicators, 2014 .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151

Sources .............................................................................................................................................. 152

Contact .............................................................................................................................................. 153




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Espicom Industry View

Espicom Industry View: The Australian market has performed well in recent years, driven by a strongly-

growing economy and the requirements of an increasingly elderly population. However, a weakening of the

Australian dollar over the next five years is expected to bring the momentum in the market to a halt.

Headline Industry Forecasts

At US$4.8bn, the market ranks amongst the top 20 largest in the world, while per capita spending is on a

par with European markets such as the Netherlands or Finland. Growth for the 2013-2018 period is

expected to be subdued; estimated at a CAGR of 0.1% in US$ terms which will raise the market to US

$4,836.5mn by 2018.

Since 2001, medical device imports have seen a period of sustained rapid growth. In 2012, importsreached a new high of US$4,523.6mn, rising by 3.9% over 2011. In CAGR terms, growth was 10.8%

between 2007 and 2012. The running annual total reached US$4.6bn in the 12 months to October 2013,

representing y-on-y growth of 2.2%.

Medical device exports bounced back strongly from the dip in 2009, recording strong growth over the

2010-2012 period. In 2012, exports rose by 10.5% to reach US$1,696.0mn. The running annual total

reached US$1.7bn in the 12 months to October 2013, representing y-on-y growth of 1.7%. In 2012, the

balance of trade deficit edged up to US$2,828mn.

Australia has a large number of small manufacturers, mostly making hospital consumables and supplies.

Production is generally high quality, but low tech; advanced products are almost always imported. The

majority of production is consumed locally.

Headline Industry Risk/Reward Rating

Australia is the most attractive market in the Asia Pacific region for commercialising a medical device,

according to BMI Espicom's Medical Device Risk/Reward Ratings (RRRs). The country's overall score

for Q214 is 75.8 out of 100, which is marginally ahead of Japan (75.7).

Headline Healthcare Overview

Australia's population stands at over 23mn and is currently growing at an annual rate of 1.3%. The

population aged 65 years and over represents 14.3% of the total and Australian life expectancy is

amongst the world's highest at 80.0 years for men and 84.5 years for women.

In 2013, Espicom estimates Australian healthcare expenditure at US$138.1bn, equal to US$5,917 per

capita. Australia has long had a relatively high level of health spending and in 2013 it stood at 9.1% of

GDP, having grown at a CAGR of 0.6% over the 2008-2013 period. Spending in US$ per capita terms

has doubled since 2003.

The number of hospitals is increasing, with an additional nine opening in 2013 to take the total to 1,363.

The number of hospital beds remains steady at 3.8 per thousand population. The number of doctors is

also rising in line with population growth, reaching almost 80,000 in 2013, a rate of 3.4 physicians per

thousand population.




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Headline Industry Trends & Developments

Medical device imports grew by 1.2% in US dollar terms in the three months to October 2013, with

growth led by the patient aids and orthopaedics & prosthetics segments which grew by 15.1% and 4.1%

respectively.

Medical device exports grew by 1.7% in US dollar terms in the three months to October 2013, with

growth led by a 17.2% increase in the other medical devices segment.

In August 2011, after months of negotiation, the Commonwealth Government signed an agreement with

all States and Territories to formalise the National Health Reform plan. Designed to improve funding to

hospitals and to reduce patient waiting times, the plan will see the Commonwealth Government invest at

least A$16.4bn (US$16.0bn) in additional funding for public hospitals over the period 2014-15 to

2019-20. The Commonwealth Government will match 45% of efficient growth funding from July 2014,

and 50% of efficient growth from July 2017.

According to the MTAA (Medical Technology Association of Australia), the Australian industry includes

over 500 medical technology companies with products listed on the Australian Register of TherapeuticGoods (ARTG). It employs around 19,000 people with turnover of around A$10.8bn in 2010-11,

although this includes distribution activity.

BMI Political View:A Newspoll's December 8 popularity poll reflected the significant decline in the

popularity of Liberal-National Coalition and Prime Minister Tony Abbott since they were elected into

parliament on September 7 2013. The lack of progress on items such as carbon tax and mineral resource

rent tax (although largely due to opposition parties holding the agenda hostage) have certainly shook

voters' confidence in the new government to deliver and weighed on the party's popularity. While these polls

have no consequence on the government's decisions or policies, further declines in popularity could reignite

internal struggles within the coalition and cause more policy paralysis.

BMI Economic View: Several domestic and external factors have served to boost the level of economic

activity in Australia. While BMI revised its GDP growth forecasts for 2014 to 2.0% from 1.8% previously,

this change masks its concerns for the ever-growing risks within the Australian economy. Given that an

increasing proportion of capital is being invested in the housing sector despite the weak performance of

business spending, (a turnaround in which is required to generate wage growth), this misallocation of

capital increases the economy's vulnerability to external shocks, on top of the ongoing weakness in the

mining sector.




9/153

SWOT

Medical Device Market

SWOT Analysis

Strengths One of world's top 20 medical device markets

High per capita spending

Market is predominantly supplied by imports

Universal health coverage

An ageing and affluent population

Weaknesses Market fragmentation due to vast geographic size

Market limited by population size

Opportunities Receptive to new technologies

Strong academic R&D community

Government support for manufacturing sector

Imports rising

National Health Reform plan supporting investment in healthcare

Threats Continued focus on cost containment in the public healthcare sector




10/153

Political

SWOT Analysis

Strengths Australia is a mature democracy with a broadly stable party system.

Economic stability over recent years supports the current political system and radical

groups are unlikely to gain substantial support.

Weaknesses As one of the region's largest and most stable states, the country attracts many

refugees and economic migrants. The issue is a key source of domestic tension and

has been hotly debated in parliament in recent times as the capsizing of a boat led to

the death of a number of refugees. The issue continues to be debated in the federal

parliament with no sign of political parties co-operating to find an alternative that

would ensure the safe passage and fair processing of the refugees, while reducing the

possibility of people smuggling.

The fragility of the state governments' finances compared to the large infrastructure

projects that they need to undertake has led to questions with regards to the

compatibility of the federal-state system with the country's current developmentneeds.

Opportunities Australia has historically enjoyed close military ties with the US. However, with the

rise of regional economic powers such as China, it will need to balance competing

military and economic ties.

Threats Australia's early support for the US 'War on Terror', among other things, has made

Australians abroad a target for Islamic extremists.

Australia's close alliance with the US, particularly under John Howard, has left a

lingering feeling among some Asian governments that it is America's 'deputy sheriff'

in the region.




11/153

Economic

SWOT Analysis

Strengths A free-market economy supported by a highly educated workforce.

Blessed with rich natural resources, Australia's economic activity has been

augmented by demand for commodity exports and the investments made in the

mining sector.

Weaknesses The persistent current account deficit increases vulnerability to capital flows and, by

extension, currency volatility.

The export basket is highly concentrated in commodities, and consequently exposes

the economy and currency to fluctuations in world prices for metals, coal and

agricultural goods.

Opportunities The rapid expansion of Asian economies in recent years offers new opportunities for

diversifying trading ties from core European markets.

A low level of government debt has provided a certain amount of flexibility in fiscalpolicy to support domestic demand through the downturn.

Threats The high level of private sector debt - especially mortgage loans - fuelled by overseas

funding poses a threat to sustained growth.

A collapse in exports from a drop in resource demand from China and other resource-

hungry countries would severely impact headline GDP growth.

Australia is vulnerable to extreme weather that may lead to droughts and floods,

which have become increasingly severe in past years as a result of global climate

change.




12/153

Business Environment

SWOT Analysis

Strengths A highly educated workforce and comparatively modern transport infrastructure

underpin economic prospects.

A number of free trade agreements with countries such as New Zealand, Thailand and

the US serve as a boon for trading activities.

Weaknesses Despite its openness, Australia requires the Foreign Investment Review Board to

approve any commercial real estate investment by a foreign company or individual

valued at US$5mn or more.

With a population of just over 22mn, the domestic consumer base is small by regional

standards.

Opportunities Australia is currently in talks with China, Malaysia, the Gulf Co-operation Council,

Indonesia, India, Japan and South Korea regarding potential bilateral free trade

agreements. It is also part of negotiations for the Trans-Pacific Partnership and a

regional south pacific pact, PACER plus.

Upgrade and expansion of urban infrastructure will be needed to sustain population

growth in Australia's main cities, providing opportunities for public-private

partnerships in the future. The government is also targeting infrastructure

improvements to rural areas.

More healthcare infrastructure will be needed to support the ageing population, and

with the introduction of the federal government's National Disability Insurance

Scheme, the industry is likely to see increasing demand for services.

Threats Corporate taxes for foreign investors in Australia remain higher than in other

countries, and it seems unlikely that the government will succeed to reduce the rates

in the near future.

Recent investment proposals by Chinese firms regarding the agricultural and resource

extraction sector have raised fears that strategic assets will be lost to foreign players.

This has led to more conditions attached to the sale agreements, which is likely to




13/153

SWOT Analysis - Continued

reduce the attractiveness of these assets. It remains to be seen if the recent

implementation of a database to increase transparency around foreign-owned

Australian assets will spur more regulation.




14/153

Industry Forecast

Medical Device Market Forecast

Past Performance 2008-2013

The Australian market has performed well in recent years, driven by a strongly-growing economy and the

requirements of an increasingly elderly population. Growth for the 2008-2013 period is estimated at a

CAGR of 7.8% in US$ terms, but 4.0% when measured in Australian dollars. Strong growth, of 15.9% and

18.2% was recorded in 2010 and 2011, but this was primarily a result of exchange rate volatility.

Medical Device Market, 2009-2018 % Change

Source: BMI Espicom




15/153

CAGR Of The Historical Medical Device Market By Product Area

%

Source: BMI Espicom

Future Performance 2013-2018

A weakening of the Australian dollar over the next five years is expected to result in a reversal of the

growth trend experienced over the 2008-2012 period, with the market projected to stagnate in US dollar

terms, but growing by 6.0% when measured in local currency.

A CAGR for 2013-2018 of 0.1% is projected to take the overall market to US$4,836.5mn by 2018, equal to

US$196 per capita. This will place Australia amongst the top 20 largest markets in the world by 2018.




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Table: Projected Medical Device Market, 2013-2018

Total (US$mn) Per Capita (US$) Total (Local Currency mn) Per Capita (LocalCurrency)

2013 4,814.3 207.4 4,815.7 207.5

2014 4,542.0 193.3 5,074.9 215.9

2015 4,246.5 178.5 5,375.3 225.9

2016 4,278.5 177.6 5,704.6 236.8

2017 4,547.9 186.5 6,063.9 248.7

2018 4,836.5 196.0 6,448.7 261.4

Source: BMI Espicom

Projected Medical Device Market, 2013-2018

US$mn

Source: BMI Espicom




17/153

CAGR Of The Projected Medical Device Market By Product Area ,2013-2018

%

Source: BMI Espicom

Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONSUMABLES 457.5 468.1 529.4 649.0 648.4 646.8 598.3 548.5 542.0 565.2 589.9

BANDAGES &DRESSINGS 114.5 112.5 138.6 189.0 151.0 150.0 138.1 125.9 123.7 128.1 132.6

Medical dressings(adhesive) 50.6 48.4 56.6 71.1 70.1 70.5 65.7 60.6 60.3 63.2 66.2

Medical dressings (non-adhesive) 64.0 64.1 82.0 117.8 80.9 79.5 72.4 65.3 63.4 64.9 66.4

SUTURING MATERIALS 61.5 60.2 62.1 76.7 92.7 95.4 90.9 85.7 87.0 93.2 99.8




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Detailed Medical Device Market By Product Area, 2008-2018 (US$mn) - Continued

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

SYRINGES, NEEDLES &CATHETERS 257.1 256.9 263.4 307.4 327.3 322.7 294.8 266.7 260.0 267.3 274.8

Syringes (with/withoutneedles) 36.4 45.5 47.5 52.0 51.9 52.6 49.3 45.9 45.9 48.5 51.2

Tubular metal needles/needles for sutures 28.5 32.4 30.7 36.2 38.4 38.4 35.6 32.7 32.3 33.7 35.1

Other needles,catheters, cannulae etc 192.1 179.1 185.2 219.2 237.0 231.7 209.8 188.2 181.8 185.1 188.5

OTHERCONSUMABLES 24.4 38.5 65.3 75.9 77.4 78.8 74.6 70.2 71.3 76.6 82.7

Blood-groupingreagents 6.5 4.3 4.9 6.8 5.5 5.4 5.0 4.5 4.4 4.5 4.7

First-aid boxes & kits 2.9 2.4 3.7 4.6 6.9 8.0 8.6 9.1 10.4 12.6 15.2

Ostomy products 0.9 18.3 36.9 36.8 41.4 40.5 36.7 33.0 31.9 32.5 33.2

Surgical gloves 14.1 13.4 19.8 27.6 23.5 24.9 24.3 23.5 24.6 27.0 29.7

DIAGNOSTIC IMAGING 498.0 510.5 587.4 640.5 726.3 735.2 690.0 641.6 642.9 679.8 719.1

ELECTRODIAGNOSTICAPPARATUS 242.2 252.9 288.0 313.0 328.6 335.9 318.3 298.8 302.3 322.8 344.7

Electrocardiographs 9.9 10.0 13.3 15.5 15.1 15.6 14.9 14.0 14.3 15.3 16.5

Ultrasound 76.7 80.7 84.2 90.6 89.5 89.8 83.4 76.8 76.2 79.6 83.2

MRI 27.4 46.3 52.2 56.0 72.8 77.5 76.5 74.7 78.5 87.0 96.4

Scintigraphic apparatus 2.2 1.7 4.0 3.5 4.1 4.4 4.4 4.4 4.6 5.2 5.9

Other electrodiagnosticapparatus 126.0 114.3 134.3 147.4 147.2 148.6 139.1 129.0 128.8 135.6 142.7

RADIATIONAPPARATUS 119.5 128.3 147.8 154.1 218.9 221.9 208.4 193.9 194.3 205.5 217.4

CT scanners 23.7 32.8 43.6 64.3 93.4 97.1 93.5 89.1 91.5 99.0 107.1

Other medical x-rayapparatus

88.0 94.1 101.4 86.6 116.9 116.3 107.3 97.9 96.2 99.7 103.4

A, B, C ray apparatus 7.8 1.4 2.8 3.2 8.6 8.4 7.6 6.9 6.7 6.8 6.9

IMAGING PARTS &ACCESSORIES 136.3 129.3 151.6 173.4 178.7 177.4 163.3 148.9 146.2 151.5 157.0

Contrast media 26.8 25.2 31.1 32.1 33.9 33.3 30.3 27.3 26.5 27.2 27.8

Medical x-ray film (flat) 21.0 22.0 23.4 25.5 23.5 22.4 19.8 17.3 16.3 16.1 16.0




19/153


2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Medical x-ray film(rolled) 0.3 0.2 0.2 0.2 0.4 0.4 0.4 0.3 0.4 0.4 0.4

X-ray tubes 16.8 18.5 19.9 21.5 24.8 25.3 24.0 22.5 22.7 24.2 25.7

Other imaging parts &accessories 71.4 63.4 77.1 94.1 96.1 96.0 88.8 81.4 80.4 83.7 87.1

DENTAL PRODUCTS 172.2 186.8 205.1 226.0 240.0 247.1 236.2 224.0 229.2 247.7 268.1

CAPITAL EQUIPMENT 20.3 25.6 35.7 28.4 28.8 30.1 29.1 27.9 28.9 31.5 34.4

Dental drills 1.7 3.1 3.5 2.4 2.1 2.0 1.8 1.6 1.6 1.6 1.6

Dental chairs 8.6 8.5 12.7 10.2 9.2 9.3 8.6 7.9 7.9 8.2 8.6

Dental x-ray 9.9 14.0 19.5 15.8 17.5 18.8 18.7 18.3 19.4 21.7 24.2

INSTRUMENTS &SUPPLIES 151.9 161.2 169.4 197.7 211.2 217.1 207.1 196.0 200.3 216.1 233.7

Dental cements 32.2 34.2 37.0 53.6 59.8 64.3 64.2 63.5 67.7 76.0 85.4

Dental instruments 74.0 81.6 78.0 87.1 92.5 90.7 82.4 74.2 71.9 73.5 75.1

Teeth & other fittings 45.7 45.3 54.4 57.0 59.0 62.0 60.4 58.3 60.7 66.6 73.1

Artificial teeth 5.3 5.5 11.4 12.5 13.5 13.6 12.6 11.6 11.5 12.1 12.6

Other dental fittings 40.4 39.8 43.0 44.5 45.4 48.4 47.8 46.7 49.1 54.5 60.5

ORTHOPAEDICS &PROSTHETICS 539.8 557.2 656.7 850.6 835.0 864.7 829.8 788.3 806.7 870.5 939.5

FIXATION DEVICES 141.2 110.4 134.4 219.9 201.5 204.2 191.8 178.3 178.5 188.5 198.9

ARTIFICIAL JOINTS 171.0 156.6 194.2 245.0 280.2 294.4 286.6 276.2 286.6 313.5 343.0

OTHER ARTIFICIALBODY PARTS 227.6 290.2 328.0 385.7 353.3 366.0 351.3 333.8 341.6 368.5 397.6

PATIENT AIDS 626.8 551.6 682.5 810.0 787.8 792.1 738.8 683.6 681.7 717.2 755.0

PORTABLE AIDS 475.3 408.5 470.3 576.4 563.1 562.5 521.1 478.7 473.9 494.8 516.8

Hearing aids 111.8 96.4 116.8 143.4 138.1 139.0 129.8 120.6 120.7 127.4 134.4

Pacemakers 121.5 116.6 130.9 147.2 177.8 181.5 171.6 160.6 161.9 172.0 182.8

Other portable aids 242.1 195.5 222.6 285.8 247.1 242.0 219.6 197.5 191.3 195.4 199.6




20/153


2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

THERAPEUTICAPPLIANCES 151.4 143.1 212.2 233.6 224.7 229.7 217.8 204.9 207.8 222.4 238.2

Mechano-therapyapparatus 63.8 54.0 61.3 70.2 81.2 80.0 73.0 65.9 64.1 65.7 67.4

Therapeutic respirationapparatus 87.7 89.1 150.9 163.4 143.5 149.7 144.8 139.0 143.7 156.6 170.7

OTHERS 1,011.8 1,054.0 1,195.3 1,381.0 1,493.9 1,528.3 1,448.9 1,360.6 1,376.1 1,467.5 1,564.9

WHEELCHAIRS 26.5 24.4 28.0 31.2 32.2 32.7 30.7 28.7 28.8 30.5 32.4

Wheelchairs, notmechanically propelled

11.2 10.0 10.7 12.9 13.4 14.1 13.6 13.1 13.5 14.7 16.1

Wheelchairs,mechanically propelled

15.3 14.4 17.3 18.3 18.8 18.6 17.1 15.6 15.3 15.8 16.3

OPHTHALMICINSTRUMENTS 65.1 65.8 68.5 85.3 96.5 98.8 93.7 88.0 89.0 95.0 101.3

HOSPITAL FURNITURE 41.0 35.0 41.6 50.1 58.6 59.5 55.9 52.0 52.1 55.0 58.1

MEDICAL, SURGICALSTERILISERS 16.5 17.3 18.9 20.3 22.4 22.5 20.9 19.2 19.0 19.8 20.7

ULTRA-VIOLET ORINFRA-RED RAYAPPARATUS

1.8 1.5 2.4 2.3 4.0 4.2 4.0 3.8 3.9 4.3 4.6

OTHER INSTRUMENTS& APPLIANCES 860.9 910.0 1,035.9 1,191.8 1,280.1 1,310.8 1,243.8 1,169.0 1,183.3 1,262.9 1,347.7

Anaesthetic apparatusand instruments 86.5 91.4 98.4 96.2 120.7 121.7 113.7 105.1 104.7 109.9 115.3

TOTAL 3,306.0 3,328.2 3,856.4 4,557.1 4,731.4 4,814.3 4,542.0 4,246.5 4,278.5 4,547.9 4,836.5

Source: BMI Espicom




21/153

Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONSUMABLES 21.3 21.4 23.8 28.7 28.3 27.9 25.5 23.1 22.5 23.2 23.9

BANDAGES &DRESSINGS

5.3 5.1 6.2 8.4 6.6 6.5 5.9 5.3 5.1 5.3 5.4

Medical dressings(adhesive)

2.3 2.2 2.5 3.1 3.1 3.0 2.8 2.5 2.5 2.6 2.7





Tubular metal needles/needles for sutures 1.3 1.5 1.4 1.6 1.7 1.7 1.5 1.4 1.3 1.4 1.4

Other needles,catheters, cannulae etc 8.9 8.2 8.3 9.7 10.3 10.0 8.9 7.9 7.5 7.6 7.6




Ostomy products 0.0 0.8 1.7 1.6 1.8 1.7 1.6 1.4 1.3 1.3 1.3

Surgical gloves 0.7 0.6 0.9 1.2 1.0 1.1 1.0 1.0 1.0 1.1 1.2




Ultrasound 3.6 3.7 3.8 4.0 3.9 3.9 3.5 3.2 3.2 3.3 3.4

MRI 1.3 2.1 2.3 2.5 3.2 3.3 3.3 3.1 3.3 3.6 3.9





22/153

Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita) - Continued

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018



CT scanners 1.1 1.5 2.0 2.8 4.1 4.2 4.0 3.7 3.8 4.1 4.3

Other medical x-rayapparatus 4.1 4.3 4.6 3.8 5.1 5.0 4.6 4.1 4.0 4.1 4.2



Contrast media 1.2 1.2 1.4 1.4 1.5 1.4 1.3 1.1 1.1 1.1 1.1



X-ray tubes 0.8 0.8 0.9 1.0 1.1 1.1 1.0 0.9 0.9 1.0 1.0


DENTAL PRODUCTS 8.0 8.5 9.2 10.0 10.5 10.6 10.0 9.4 9.5 10.2 10.9

CAPITAL EQUIPMENT 0.9 1.2 1.6 1.3 1.3 1.3 1.2 1.2 1.2 1.3 1.4

Dental drills 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

Dental chairs 0.4 0.4 0.6 0.5 0.4 0.4 0.4 0.3 0.3 0.3 0.3

Dental x-ray 0.5 0.6 0.9 0.7 0.8 0.8 0.8 0.8 0.8 0.9 1.0


Dental cements 1.5 1.6 1.7 2.4 2.6 2.8 2.7 2.7 2.8 3.1 3.5


Teeth & other fittings 2.1 2.1 2.4 2.5 2.6 2.7 2.6 2.5 2.5 2.7 3.0

Artificial teeth 0.2 0.3 0.5 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.5


ORTHOPAEDICS &PROSTHETICS 25.1 25.4 29.5 37.6 36.4 37.2 35.3 33.1 33.5 35.7 38.1




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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018



OTHER ARTIFICIALBODY PARTS

10.6 13.3 14.7 17.1 15.4 15.8 14.9 14.0 14.2 15.1 16.1

PATIENT AIDS 29.1 25.2 30.6 35.8 34.4 34.1 31.4 28.7 28.3 29.4 30.6

PORTABLE AIDS 22.1 18.7 21.1 25.5 24.6 24.2 22.2 20.1 19.7 20.3 20.9

Hearing aids 5.2 4.4 5.2 6.3 6.0 6.0 5.5 5.1 5.0 5.2 5.4

Pacemakers 5.6 5.3 5.9 6.5 7.8 7.8 7.3 6.8 6.7 7.1 7.4





OTHERS 47.0 48.1 53.7 61.1 65.2 65.8 61.6 57.2 57.1 60.2 63.4

WHEELCHAIRS 1.2 1.1 1.3 1.4 1.4 1.4 1.3 1.2 1.2 1.3 1.3

Wheelchairs, notmechanically propelled 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.5 0.6 0.6 0.7

Wheelchairs,mechanically propelled 0.7 0.7 0.8 0.8 0.8 0.8 0.7 0.7 0.6 0.6 0.7







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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018


0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2

OTHER INSTRUMENTS& APPLIANCES 40.0 41.5 46.5 52.7 55.9 56.5 52.9 49.1 49.1 51.8 54.6


TOTAL 153.7 152.0 173.2 201.6 206.4 207.4 193.3 178.5 177.6 186.5 196.0

Source: BMI Espicom

Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONSUMABLES 13.8 14.1 13.7 14.2 13.7 13.4 13.2 12.9 12.7 12.4 12.2

BANDAGES &DRESSINGS 3.5 3.4 3.6 4.1 3.2 3.1 3.0 3.0 2.9 2.8 2.7

Medical dressings(adhesive) 1.5 1.5 1.5 1.6 1.5 1.5 1.4 1.4 1.4 1.4 1.4





Tubular metal needles/needles for sutures

0.9 1.0 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.7 0.7

Other needles,catheters, cannulae etc

5.8 5.4 4.8 4.8 5.0 4.8 4.6 4.4 4.2 4.1 3.9




25/153

Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total) - Continued

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018




Ostomy products 0.0 0.5 1.0 0.8 0.9 0.8 0.8 0.8 0.7 0.7 0.7

Surgical gloves 0.4 0.4 0.5 0.6 0.5 0.5 0.5 0.6 0.6 0.6 0.6




Ultrasound 2.3 2.4 2.2 2.0 1.9 1.9 1.8 1.8 1.8 1.8 1.7

MRI 0.8 1.4 1.4 1.2 1.5 1.6 1.7 1.8 1.8 1.9 2.0




CT scanners 0.7 1.0 1.1 1.4 2.0 2.0 2.1 2.1 2.1 2.2 2.2

Other medical x-rayapparatus 2.7 2.8 2.6 1.9 2.5 2.4 2.4 2.3 2.2 2.2 2.1



Contrast media 0.8 0.8 0.8 0.7 0.7 0.7 0.7 0.6 0.6 0.6 0.6



X-ray tubes 0.5 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5


DENTAL PRODUCTS 5.2 5.6 5.3 5.0 5.1 5.1 5.2 5.3 5.4 5.4 5.5




26/153


2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CAPITAL EQUIPMENT 0.6 0.8 0.9 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7Dental drills 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Dental chairs 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2

Dental x-ray 0.3 0.4 0.5 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.5


Dental cements 1.0 1.0 1.0 1.2 1.3 1.3 1.4 1.5 1.6 1.7 1.8


Teeth & other fittings 1.4 1.4 1.4 1.3 1.2 1.3 1.3 1.4 1.4 1.5 1.5Artificial teeth 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3


ORTHOPAEDICS &PROSTHETICS

16.3 16.7 17.0 18.7 17.6 18.0 18.3 18.6 18.9 19.1 19.4



OTHER ARTIFICIALBODY PARTS 6.9 8.7 8.5 8.5 7.5 7.6 7.7 7.9 8.0 8.1 8.2

PATIENT AIDS 19.0 16.6 17.7 17.8 16.7 16.5 16.3 16.1 15.9 15.8 15.6

PORTABLE AIDS 14.4 12.3 12.2 12.6 11.9 11.7 11.5 11.3 11.1 10.9 10.7

Hearing aids 3.4 2.9 3.0 3.1 2.9 2.9 2.9 2.8 2.8 2.8 2.8

Pacemakers 3.7 3.5 3.4 3.2 3.8 3.8 3.8 3.8 3.8 3.8 3.8





OTHERS 30.6 31.7 31.0 30.3 31.6 31.7 31.9 32.0 32.2 32.3 32.4




27/153


2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

WHEELCHAIRS 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7

Wheelchairs, notmechanically propelled 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

Wheelchairs,mechanically propelled 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.3





0.1 0.0 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1

OTHER INSTRUMENTS& APPLIANCES 26.0 27.3 26.9 26.2 27.1 27.2 27.4 27.5 27.7 27.8 27.9


TOTAL 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Source: BMI Espicom




28/153

Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$, % Change)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONSUMABLES 2.3 13.1 22.6 -0.1 -0.2 -7.5 -8.3 -1.2 4.3 4.4

BANDAGES & DRESSINGS -1.7 23.2 36.3 -20.1 -0.6 -7.9 -8.8 -1.8 3.6 3.6

Medical dressings(adhesive) -4.2 16.9 25.6 -1.5 0.6 -6.8 -7.7 -0.6 4.8 4.8

Medical dressings (non-adhesive) 0.2 27.9 43.7 -31.3 -1.7 -8.9 -9.8 -2.9 2.4 2.4

SUTURING MATERIALS -2.1 3.2 23.5 20.9 2.8 -4.7 -5.7 1.6 7.1 7.1

SYRINGES, NEEDLES &CATHETERS -0.1 2.5 16.7 6.5 -1.4 -8.6 -9.5 -2.5 2.8 2.8

Syringes (with/withoutneedles) 24.9 4.4 9.5 -0.2 1.3 -6.1 -7.0 0.1 5.6 5.6

Tubular metal needles/needles for sutures 13.4 -5.0 17.8 6.2 -0.1 -7.4 -8.2 -1.1 4.3 4.2

Other needles, catheters,

cannulae etc-6.8 3.4 18.4 8.1 -2.2 -9.4 -10.3 -3.4 1.9 1.8

OTHER CONSUMABLES 57.7 69.7 16.2 2.0 1.9 -5.3 -6.0 1.6 7.5 7.9

Blood-grouping reagents -32.8 13.4 38.1 -19.2 -1.2 -8.5 -9.3 -2.3 3.0 3.0

First-aid boxes & kits -14.8 51.0 24.6 50.5 15.7 7.3 6.2 14.3 20.5 20.5

Ostomy products 1,823.6 102.0 -0.1 12.4 -2.2 -9.3 -10.2 -3.3 2.0 2.0

Surgical gloves -4.9 47.5 39.7 -14.8 5.6 -2.2 -3.2 4.3 9.9 9.9

DIAGNOSTIC IMAGING 2.5 15.1 9.0 13.4 1.2 -6.2 -7.0 0.2 5.7 5.8

ELECTRODIAGNOSTICAPPARATUS 4.4 13.9 8.7 5.0 2.2 -5.2 -6.1 1.2 6.7 6.8

Electrocardiographs 0.2 33.6 16.3 -2.5 3.0 -4.6 -5.5 1.8 7.3 7.3

Ultrasound 5.2 4.3 7.7 -1.3 0.3 -7.0 -7.9 -0.9 4.5 4.5

MRI 69.2 12.8 7.1 30.1 6.5 -1.4 -2.4 5.1 10.9 10.8

Scintigraphic apparatus -23.5 134.0 -12.8 16.8 8.0 0.0 -1.0 6.6 12.4 12.4

Other electrodiagnosticapparatus -9.3 17.5 9.8 -0.2 1.0 -6.4 -7.3 -0.1 5.3 5.3




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Detailed Medical Device Market By Product Area, 2009-2018 (US$, % Change) - Continued

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

RADIATION APPARATUS 7.3 15.2 4.3 42.1 1.3 -6.1 -7.0 0.2 5.7 5.8

CT scanners 38.1 33.1 47.3 45.4 3.9 -3.7 -4.7 2.6 8.2 8.2

Other medical x-rayapparatus

6.9 7.7 -14.5 35.0 -0.5 -7.8 -8.7 -1.7 3.6 3.6

A, B, C ray apparatus -81.5 94.8 15.1 166.8 -2.1 -9.3 -10.1 -3.2 2.1 2.1

IMAGING PARTS &ACCESSORIES -5.1 17.3 14.4 3.0 -0.7 -8.0 -8.8 -1.8 3.6 3.6

Contrast media -5.9 23.2 3.3 5.5 -1.7 -9.0 -9.9 -2.9 2.3 2.3

Medical x-ray film (flat) 4.7 6.4 9.1 -7.8 -4.7 -11.7 -12.6 -5.9 -0.7 -0.7

Medical x-ray film (rolled) -28.8 -18.1 29.3 95.0 2.1 -5.4 -6.2 1.0 6.5 6.5

X-ray tubes 10.1 7.3 8.3 15.2 2.2 -5.3 -6.2 1.0 6.5 6.5

Other imaging parts &accessories -11.2 21.6 22.0 2.2 -0.1 -7.4 -8.3 -1.3 4.1 4.1

DENTAL PRODUCTS 8.5 9.8 10.2 6.2 2.9 -4.4 -5.2 2.3 8.1 8.3

CAPITAL EQUIPMENT 26.5 39.3 -20.5 1.6 4.3 -3.2 -4.1 3.4 9.2 9.3

Dental drills 77.7 13.8 -32.4 -14.0 -2.3 -9.5 -10.3 -3.4 1.8 1.8

Dental chairs -1.2 48.3 -19.4 -9.4 0.4 -7.0 -7.9 -0.8 4.6 4.6

Dental x-ray 41.6 39.5 -19.1 11.0 7.2 -0.7 -1.7 5.9 11.6 11.6

INSTRUMENTS &SUPPLIES

6.1 5.1 16.7 6.9 2.8 -4.6 -5.3 2.2 7.9 8.1

Dental cements 6.3 8.0 44.8 11.6 7.7 -0.2 -1.1 6.5 12.3 12.3

Dental instruments 10.3 -4.5 11.7 6.2 -1.9 -9.1 -10.0 -3.1 2.2 2.2

Teeth & other fittings -0.8 20.0 4.8 3.4 5.1 -2.5 -3.5 4.0 9.7 9.8

Artificial teeth 4.5 105.6 10.0 8.1 0.4 -7.0 -7.9 -0.8 4.6 4.5

Other dental fittings -1.5 8.1 3.4 2.1 6.5 -1.3 -2.3 5.2 11.0 10.9

ORTHOPAEDICS &PROSTHETICS 3.2 17.9 29.5 -1.8 3.6 -4.0 -5.0 2.3 7.9 7.9

FIXATION DEVICES -21.8 21.8 63.6 -8.4 1.4 -6.1 -7.0 0.1 5.6 5.6

ARTIFICIAL JOINTS -8.4 24.1 26.1 14.4 5.1 -2.6 -3.6 3.8 9.4 9.4




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2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

OTHER ARTIFICIAL BODYPARTS 27.5 13.0 17.6 -8.4 3.6 -4.0 -5.0 2.3 7.9 7.9

PATIENT AIDS -12.0 23.7 18.7 -2.7 0.5 -6.7 -7.5 -0.3 5.2 5.3

PORTABLE AIDS -14.1 15.1 22.6 -2.3 -0.1 -7.4 -8.1 -1.0 4.4 4.4

Hearing aids -13.7 21.1 22.8 -3.7 0.6 -6.6 -7.1 0.1 5.5 5.5

Pacemakers -4.0 12.3 12.4 20.8 2.1 -5.5 -6.4 0.8 6.3 6.3

Other portable aids -19.2 13.9 28.4 -13.5 -2.1 -9.2 -10.1 -3.1 2.1 2.1

THERAPEUTICAPPLIANCES -5.5 48.3 10.1 -3.8 2.2 -5.2 -5.9 1.4 7.0 7.1

Mechano-therapy apparatus -15.4 13.6 14.5 15.8 -1.5 -8.8 -9.7 -2.7 2.6 2.6

Therapeutic respirationapparatus 1.6 69.4 8.3 -12.2 4.3 -3.3 -4.0 3.4 9.0 9.0

OTHERS 4.2 13.4 15.5 8.2 2.3 -5.2 -6.1 1.1 6.6 6.6

WHEELCHAIRS -7.9 14.8 11.5 3.2 1.5 -5.9 -6.8 0.5 6.0 6.1Wheelchairs, notmechanically propelled -11.1 7.3 21.0 3.9 4.7 -3.0 -4.0 3.4 9.0 9.0

Wheelchairs, mechanicallypropelled -5.6 19.9 5.6 2.7 -0.8 -8.1 -9.0 -2.0 3.4 3.4

OPHTHALMICINSTRUMENTS 1.1 4.0 24.6 13.2 2.3 -5.2 -6.1 1.2 6.7 6.7

HOSPITAL FURNITURE -14.8 19.1 20.4 17.0 1.4 -6.0 -7.0 0.2 5.7 5.6

MEDICAL, SURGICALSTERILISERS 5.0 9.1 7.6 10.5 0.2 -7.2 -8.1 -1.0 4.4 4.4

ULTRA-VIOLET OR INFRA-RED RAY APPARATUS -14.5 56.5 -5.7 75.3 4.1 -3.6 -4.5 2.8 8.4 8.4

OTHER INSTRUMENTS &APPLIANCES 5.7 13.8 15.0 7.4 2.4 -5.1 -6.0 1.2 6.7 6.7




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2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Anaesthetic apparatus andinstruments 5.7 7.7 -2.3 25.6 0.8 -6.6 -7.5 -0.4 5.0 5.0

TOTAL 0.7 15.9 18.2 3.8 1.8 -5.7 -6.5 0.8 6.3 6.3

Source: BMI Espicom

Consumables Market Forecast

The Australian market for consumable products is estimated at US$646.8mn in 2013, equal to US$27.9 per

capita and 13.4% of the total market. Within this, syringes, needles & catheters account for US$322.7mn

and bandages & dressings for US$150.0mn.

There is some local production of items such as bandages and syringes, but this tends to be for export. As a

result, the market is largely reliant on imports. The principal supplier is the USA, followed by China,

Ireland and Germany.

The sector grew at a CAGR of 7.2% over the 2008-2013 period. Espicom projects a CAGR of -1.8% for the

2013-2018 period, with the market declining to US$589.9mn by 2018, equal to US$23.9 per capita.




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Table: Consumables Market, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CAGR2008-13 CAGR2013-18

CONSUMABLES 457.5 468.1 529.4 649.0 648.4 646.8 598.3 548.5 542.0 565.2 589.9 7.2 -1.8

BANDAGES &DRESSINGS 114.5 112.5 138.6 189.0 151.0 150.0 138.1 125.9 123.7 128.1 132.6 5.5 -2.4

Medical dressings(adhesive) 50.6 48.4 56.6 71.1 70.1 70.5 65.7 60.6 60.3 63.2 66.2 6.9 -1.3

Medical dressings(non-adhesive) 64.0 64.1 82.0 117.8 80.9 79.5 72.4 65.3 63.4 64.9 66.4 4.5 -3.5

SUTURINGMATERIALS 61.5 60.2 62.1 76.7 92.7 95.4 90.9 85.7 87.0 93.2 99.8 9.2 0.9

SYRINGES,NEEDLES &CATHETERS 257.1 256.9 263.4 307.4 327.3 322.7 294.8 266.7 260.0 267.3 274.8 4.6 -3.2

Syringes (with/without needles) 36.4 45.5 47.5 52.0 51.9 52.6 49.3 45.9 45.9 48.5 51.2 7.6 -0.5

Tubular metal

needles/needlesfor sutures 28.5 32.4 30.7 36.2 38.4 38.4 35.6 32.7 32.3 33.7 35.1 6.1 -1.8

Other needles,catheters,cannulae etc 192.1 179.1 185.2 219.2 237.0 231.7 209.8 188.2 181.8 185.1 188.5 3.8 -4.0

OTHERCONSUMABLES 24.4 38.5 65.3 75.9 77.4 78.8 74.6 70.2 71.3 76.6 82.7 26.4 1.0

Blood-groupingreagents 6.5 4.3 4.9 6.8 5.5 5.4 5.0 4.5 4.4 4.5 4.7 -3.4 -3.0

First-aid boxes &kits 2.9 2.4 3.7 4.6 6.9 8.0 8.6 9.1 10.4 12.6 15.2 22.8 13.6

Ostomy products 0.9 18.3 36.9 36.8 41.4 40.5 36.7 33.0 31.9 32.5 33.2 111.9 -3.9

Surgical gloves 14.1 13.4 19.8 27.6 23.5 24.9 24.3 23.5 24.6 27.0 29.7 12.0 3.6

Source: BMI Espicom




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Table: Consumables Market, 2008-2018 (US$ Per Capita)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CAGR2008-13 CAGR2013-18

CONSUMABLES 21.3 21.4 23.8 28.7 28.3 27.9 25.5 23.1 22.5 23.2 23.9 5.6 -3.0

BANDAGES &DRESSINGS 5.3 5.1 6.2 8.4 6.6 6.5 5.9 5.3 5.1 5.3 5.4 4.0 -3.6

Medical dressings(adhesive) 2.3 2.2 2.5 3.1 3.1 3.0 2.8 2.5 2.5 2.6 2.7 5.3 -2.4

Medical dressings(non-adhesive) 3.0 2.9 3.7 5.2 3.5 3.4 3.1 2.7 2.6 2.7 2.7 2.9 -4.7

SUTURINGMATERIALS 2.9 2.7 2.8 3.4 4.0 4.1 3.9 3.6 3.6 3.8 4.0 7.5 -0.3

SYRINGES,NEEDLES &CATHETERS 11.9 11.7 11.8 13.6 14.3 13.9 12.5 11.2 10.8 11.0 11.1 3.1 -4.3

Syringes (with/without needles) 1.7 2.1 2.1 2.3 2.3 2.3 2.1 1.9 1.9 2.0 2.1 6.0 -1.7

Tubular metal

needles/needlesfor sutures 1.3 1.5 1.4 1.6 1.7 1.7 1.5 1.4 1.3 1.4 1.4 4.5 -3.0

Other needles,catheters,cannulae etc 8.9 8.2 8.3 9.7 10.3 10.0 8.9 7.9 7.5 7.6 7.6 2.2 -5.2

OTHERCONSUMABLES 1.1 1.8 2.9 3.4 3.4 3.4 3.2 2.9 3.0 3.1 3.4 24.5 -0.3

Blood-groupingreagents 0.3 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 -4.9 -4.1

First-aid boxes &kits 0.1 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.5 0.6 20.9 12.2

Ostomy products 0.0 0.8 1.7 1.6 1.8 1.7 1.6 1.4 1.3 1.3 1.3 108.7 -5.1

Surgical gloves 0.7 0.6 0.9 1.2 1.0 1.1 1.0 1.0 1.0 1.1 1.2 10.3 2.3

Source: BMI Espicom




34/153

Table: Consumables Market, 2009-2018 (US$mn % Change)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONSUMABLES 2.3 13.1 22.6 -0.1 -0.2 -7.5 -8.3 -1.2 4.3 4.4

BANDAGES & DRESSINGS -1.7 23.2 36.3 -20.1 -0.6 -7.9 -8.8 -1.8 3.6 3.6

Medical dressings(adhesive) -4.2 16.9 25.6 -1.5 0.6 -6.8 -7.7 -0.6 4.8 4.8

Medical dressings (non-adhesive) 0.2 27.9 43.7 -31.3 -1.7 -8.9 -9.8 -2.9 2.4 2.4

SUTURING MATERIALS -2.1 3.2 23.5 20.9 2.8 -4.7 -5.7 1.6 7.1 7.1

SYRINGES, NEEDLES &CATHETERS -0.1 2.5 16.7 6.5 -1.4 -8.6 -9.5 -2.5 2.8 2.8

Syringes (with/withoutneedles) 24.9 4.4 9.5 -0.2 1.3 -6.1 -7.0 0.1 5.6 5.6

Tubular metal needles/needles for sutures 13.4 -5.0 17.8 6.2 -0.1 -7.4 -8.2 -1.1 4.3 4.2

Other needles, catheters,cannulae etc -6.8 3.4 18.4 8.1 -2.2 -9.4 -10.3 -3.4 1.9 1.8

OTHER CONSUMABLES 57.7 69.7 16.2 2.0 1.9 -5.3 -6.0 1.6 7.5 7.9

Blood-grouping reagents -32.8 13.4 38.1 -19.2 -1.2 -8.5 -9.3 -2.3 3.0 3.0

First-aid boxes & kits -14.8 51.0 24.6 50.5 15.7 7.3 6.2 14.3 20.5 20.5

Ostomy products 1,823.6 102.0 -0.1 12.4 -2.2 -9.3 -10.2 -3.3 2.0 2.0

Surgical gloves -4.9 47.5 39.7 -14.8 5.6 -2.2 -3.2 4.3 9.9 9.9

Source: BMI Espicom




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Consumables Market 2008-2018

US$mn

Source: BMI Espicom




36/153

Consumables Market, 2009--2018

US$mn CAGR

Source: BMI Espicom

Diagnostic Imaging Market Forecast

The Australian market for diagnostic imaging is estimated at US$735.2mn in 2013, equal to US$31.7 per

capita and 15.3% of the total market. Within the sector, electrodiagnostic apparatus accounts for US

$335.9mn and X-ray/other radiation apparatus for a further US$221.9mn. Almost all requirements are

imported. These are supplied primarily from the USA, Germany and China.

The sector grew strongly over the 2008-13 period, at a CAGR of 6.5%. Within this, high tech areas such as

MRI and CT were the best performers. A slowdown in growth across the diagnostic sector is expected,

however; Espicom projects a CAGR of 0.4% for the 2013-18 period. This will take the market to US

$719.1mn by 2018, equal to US$29.1 per capita. The only growth will remain in the high tech areas, notably

MRI and scintigraphic apparatus.




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Electrodiagnostic Apparatus Sector

The market for electrodiagnostic apparatus is estimated at US$335.9mn in 2013, equal to US$31.7 per

capita. Almost all of the market is imported.

Other electrodiagnostic apparatus, including patient monitoring equipment, is the largest segment within the

electrodiagnostic market, with sales of US$148.6mn in 2013, followed by ultrasound apparatus with sales of

US$89.8mn and MRI units to a value of US$77.5mn. The electrodiagnostic apparatus market increased at a

CAGR of 6.8% between 2008 and 2013, with the strongest growth (23.1%) coming in the MRI segment.

A slowdown in growth to a CAGR of just 0.5% is forecast to take the market to US$719.1mn over the

2013-2018 period, with scintigraphic apparatus expected to have the highest growth at 5.9%.

Radiation Apparatus Sector

The market for radiation apparatus, including X-ray apparatus and CT scanners, totals an estimated US

$221.9mn in 2013. Other medical X-ray apparatus forms the largest sector of the market, with sales

estimated at US$116.3mn in 2013, followed by CT scanners at US$97.1mn. Almost all of the market is

imported.

The market increased at an estimated CAGR of 13.2% over the 2008-2013 period. Demand for CT scanners

increased significantly over the period, rising at a CAGR of 32.6%.

The sector is projected to show a small decline over the 2013-2018 period, with the only area expected to

show any growth being the CT scanner segment which is forecast to increase at a CAGR of just under 2%.

Imaging Parts & Accessories Sector

The market for imaging parts & accessories is estimated at US$177.4mn in 2013, equal to US$7.6 per

capita. The market is almost entirely reliant upon imports.

The market increased at an estimated CAGR of 5.4% between 2008 and 2013, with all segments registering

growth. Both the rolled X-ray film and X-ray tube segments achieved a CAGR of 8.5% over the period.

Looking ahead, the sector is expected to shrink at a CAGR of 2.4% between 2013 and 2018 with only the

rolled X-ray film and X-ray tube segments forecast to achieve any growth at all.




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Table: Diagnostic Imaging Market, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

DIAGNOSTIC IMAGING 498.0 510.5 587.4 640.5 726.3 735.2 690.0 641.6 642.9 679.8 719.1 8.1 -0.4

ELECTRODIAGNOSTICAPPARATUS 242.2 252.9 288.0 313.0 328.6 335.9 318.3 298.8 302.3 322.8 344.7 6.8 0.5

Electrocardiographs 9.9 10.0 13.3 15.5 15.1 15.6 14.9 14.0 14.3 15.3 16.5 9.4 1.1

Ultrasound 76.7 80.7 84.2 90.6 89.5 89.8 83.4 76.8 76.2 79.6 83.2 3.2 -1.5

MRI 27.4 46.3 52.2 56.0 72.8 77.5 76.5 74.7 78.5 87.0 96.4 23.1 4.5

Scintigraphic apparatus 2.2 1.7 4.0 3.5 4.1 4.4 4.4 4.4 4.6 5.2 5.9 14.5 5.9

Other electrodiagnosticapparatus 126.0 114.3 134.3 147.4 147.2 148.6 139.1 129.0 128.8 135.6 142.7 3.4 -0.8

RADIATIONAPPARATUS 119.5 128.3 147.8 154.1 218.9 221.9 208.4 193.9 194.3 205.5 217.4 13.16 -0.41

CT scanners 23.7 32.8 43.6 64.3 93.4 97.1 93.5 89.1 91.5 99.0 107.1 32.55 1.98

Other medical x-rayapparatus 88.0 94.1 101.4 86.6 116.9 116.3 107.3 97.9 96.2 99.7 103.4 5.73 -2.34

A, B, C ray apparatus 7.8 1.4 2.8 3.2 8.6 8.4 7.6 6.9 6.7 6.8 6.9 1.61 -3.81

IMAGING PARTS &ACCESSORIES 136.3 129.3 151.6 173.4 178.7 177.4 163.3 148.9 146.2 151.5 157.0 5.4 -2.4

Contrast media 26.8 25.2 31.1 32.1 33.9 33.3 30.3 27.3 26.5 27.2 27.8 4.4 -3.6

Medical x-ray film (flat) 21.0 22.0 23.4 25.5 23.5 22.4 19.8 17.3 16.3 16.1 16.0 1.3 -6.5

Medical x-ray film(rolled) 0.3 0.2 0.2 0.2 0.4 0.4 0.4 0.3 0.4 0.4 0.4 8.5 0.3

X-ray tubes 16.8 18.5 19.9 21.5 24.8 25.3 24.0 22.5 22.7 24.2 25.7 8.5 0.3

Other imaging parts &accessories 71.4 63.4 77.1 94.1 96.1 96.0 88.8 81.4 80.4 83.7 87.1 6.1 -1.9

Source: BMI Espicom




39/153

Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CAGR2008-13 CAGR2013-18

DIAGNOSTIC IMAGING 23.1 23.3 26.4 28.3 31.7 31.7 29.4 27.0 26.7 27.9 29.1 6.5 -1.6

ELECTRODIAGNOSTICAPPARATUS 11.3 11.5 12.9 13.8 14.3 14.5 13.5 12.6 12.6 13.2 14.0 5.1 -0.7

Electrocardiographs 0.5 0.5 0.6 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.7 7.7 -0.1

Ultrasound 3.6 3.7 3.8 4.0 3.9 3.9 3.5 3.2 3.2 3.3 3.4 1.6 -2.7

MRI 1.3 2.1 2.3 2.5 3.2 3.3 3.3 3.1 3.3 3.6 3.9 21.3 3.2

Scintigraphic apparatus 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 12.8 4.7

Other electrodiagnosticapparatus 5.9 5.2 6.0 6.5 6.4 6.4 5.9 5.4 5.3 5.6 5.8 1.8 -2.0

RADIATIONAPPARATUS 5.6 5.9 6.6 6.8 9.6 9.6 8.9 8.1 8.1 8.4 8.8 11.46 -1.61

CT scanners 1.1 1.5 2.0 2.8 4.1 4.2 4.0 3.7 3.8 4.1 4.3 30.55 0.74

Other medical x-rayapparatus 4.1 4.3 4.6 3.8 5.1 5.0 4.6 4.1 4.0 4.1 4.2 4.14 -3.52

A, B, C ray apparatus 0.4 0.1 0.1 0.1 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.07 -4.97

IMAGING PARTS &ACCESSORIES 6.3 5.9 6.8 7.7 7.8 7.6 6.9 6.3 6.1 6.2 6.4 3.8 -3.6

Contrast media 1.2 1.2 1.4 1.4 1.5 1.4 1.3 1.1 1.1 1.1 1.1 2.9 -4.7

Medical x-ray film (flat) 1.0 1.0 1.0 1.1 1.0 1.0 0.8 0.7 0.7 0.7 0.6 -0.2 -7.6

Medical x-ray film(rolled) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.8 -0.9

X-ray tubes 0.8 0.8 0.9 1.0 1.1 1.1 1.0 0.9 0.9 1.0 1.0 6.9 -0.9

Other imaging parts &accessories 3.3 2.9 3.5 4.2 4.2 4.1 3.8 3.4 3.3 3.4 3.5 4.5 -3.1

Source: BMI Espicom




40/153

Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

DIAGNOSTIC IMAGING 2.5 15.1 9.0 13.4 1.2 -6.2 -7.0 0.2 5.7 5.8

ELECTRODIAGNOSTICAPPARATUS 4.4 13.9 8.7 5.0 2.2 -5.2 -6.1 1.2 6.7 6.8

Electrocardiographs 0.2 33.6 16.3 -2.5 3.0 -4.6 -5.5 1.8 7.3 7.3

Ultrasound 5.2 4.3 7.7 -1.3 0.3 -7.0 -7.9 -0.9 4.5 4.5

MRI 69.2 12.8 7.1 30.1 6.5 -1.4 -2.4 5.1 10.9 10.8

Scintigraphic apparatus -23.5 134.0 -12.8 16.8 8.0 0.0 -1.0 6.6 12.4 12.4

Other electrodiagnostic apparatus -9.3 17.5 9.8 -0.2 1.0 -6.4 -7.3 -0.1 5.3 5.3

RADIATION APPARATUS 7.3 15.2 4.3 42.1 1.3 -6.1 -7.0 0.2 5.7 5.8

CT scanners 38.1 33.1 47.3 45.4 3.9 -3.7 -4.7 2.6 8.2 8.2

Other medical x-ray apparatus 6.9 7.7 -14.5 35.0 -0.5 -7.8 -8.7 -1.7 3.6 3.6

A, B, C ray apparatus -81.5 94.8 15.1 166.8 -2.1 -9.3 -10.1 -3.2 2.1 2.1

IMAGING PARTS &ACCESSORIES -5.1 17.3 14.4 3.0 -0.7 -8.0 -8.8 -1.8 3.6 3.6

Contrast media -5.9 23.2 3.3 5.5 -1.7 -9.0 -9.9 -2.9 2.3 2.3

Medical x-ray film (flat) 4.7 6.4 9.1 -7.8 -4.7 -11.7 -12.6 -5.9 -0.7 -0.7

Medical x-ray film (rolled) -28.8 -18.1 29.3 95.0 2.1 -5.4 -6.2 1.0 6.5 6.5

X-ray tubes 10.1 7.3 8.3 15.2 2.2 -5.3 -6.2 1.0 6.5 6.5

Other imaging parts & accessories -11.2 21.6 22.0 2.2 -0.1 -7.4 -8.3 -1.3 4.1 4.1

Source: BMI Espicom




41/153

Diagnostic Imaging Market, 2008-2018

US$mn

Source: BMI Espicom




42/153

Diagnostic Imaging Market, 2009-2018

US$mn CAGR

Source: BMI Espicom

Dental Products Market Forecast

The Australian dental market is estimated at US$247.1mn in 2013, equal to US$10.6 per capita and 5.1% of

the total market. The market for instruments & supplies accounts for the majority of the dental market and is

estimated at US$217.1mn in 2013. The capital equipment market, including drills, chairs and X-ray

apparatus is estimated at US$30.1mn.

The dental market has outperformed the market as a whole in recent years as the government has been keen

to boost dental provision across the country, and has taken steps to boost the numbers of dentists trained and

recruited each year. After a CAGR of 7.5% over the 2008-13 period, Espicom projects a fall in the CAGR

to 1.6% for the 2013-18 period, with capital equipment outperforming this (at a CAGR of 2.8%) as the

number of dentists increases. This will take the dental market to US$268.1mn by 2018, equal to US$10.9

per capita.

The USA and Germany are the major suppliers of dental equipment, with Switzerland and Ireland also

significant suppliers of dental instruments and fittings.




43/153

Table: Dental Products Market, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

DENTALPRODUCTS 172.2 187 205.1 226 240 247.1 236.2 224 229.2 247.7 268.1 7.5 1.6

CAPITALEQUIPMENT 20.3 26 35.7 28.4 28.8 30.1 29.1 27.9 28.9 31.5 34.4 8.2 2.8

Dental drills 1.7 3 3.5 2.4 2.1 2 1.8 1.6 1.6 1.6 1.6 2.8 -4.1

Dental chairs 8.6 9 12.7 10.2 9.2 9.3 8.6 7.9 7.9 8.2 8.6 1.4 -1.5

Dental x-ray 10 14 19.5 15.8 17.5 18.8 18.7 18.3 19.4 21.7 24.2 13.7 5.2

INSTRUMENTS& SUPPLIES 151.9 161 169.4 197.7 211.2 217.1 207.1 196 200.3 216.1 233.7 7.4 1.5

Dental cements 32 34 37 53.6 59.8 64.3 64.2 63.5 67.7 76 85.4 14.8 5.8

Dentalinstruments 74 82 78 87.1 92.5 90.7 82.4 74.2 71.9 73.5 75.1 4.2 -3.7

Teeth & otherfittings 45.7 45 54.4 57 59 62 60.4 58.3 60.7 66.6 73.1 6.3 3.4

Artificial teeth 5 6 11.4 12.5 13.5 13.6 12.6 11.6 11.5 12.1 12.6 20.7 -1.5

Other dentalfittings 40 39.8 43 44.5 45.4 48.4 47.8 46.7 49.1 54.5 60.5 3.7 4.6

Source: BMI Espicom

Table: Dental Products Market, 2008-2018 (US$ Per Capita)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

DENTALPRODUCTS 8 9 9.2 10 10.5 10.6 10 9.4 9.5 10.2 10.9 7.5 1.6

CAPITALEQUIPMENT 0.9 1 1.6 1.3 1.3 1.3 1.2 1.2 1.2 1.3 1.4 8.2 2.8

Dental drills 0.1 0 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.8 -4.1

Dental chairs 0 0 0.6 0.5 0.4 0.4 0.4 0.3 0.3 0.3 0.3 1.4 -1.5

Dental x-ray 0.5 1 0.9 0.7 0.8 0.8 0.8 0.8 0.8 0.9 1 13.7 5.2




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Dental Products Market, 2008-2018 (US$ Per Capita) - Continued

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

INSTRUMENTS& SUPPLIES 7 7 7.6 8.7 9.2 9.4 8.8 8.2 8.3 8.9 9.5 7.4 1.5

Dental cements 1.5 2 1.7 2.4 2.6 2.8 2.7 2.7 2.8 3.1 3.5 14.8 5.8

Dentalinstruments 3.4 4 3.5 3.9 4 3.9 3.5 3.1 3 3 3 4.2 -3.7

Teeth & otherfittings 2 2 2.4 2.5 2.6 2.7 2.6 2.5 2.5 2.7 3 6.3 3.4

Artificial teeth 0 0.3 0.5 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.5 20.7 -1.5

Other dentalfittings 2 1.8 1.9 2 2 2.1 2 2 2 2.2 2.5 3.7 4.6

Source: BMI Espicom

Table: Dental Products Market, 2009-2018 (US$mn % Change)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

DENTAL PRODUCTS 8.5 9.8 10.2 6.2 2.9 -4.4 -5.2 2.3 8.1 8.3

CAPITAL EQUIPMENT 26.5 39.3 -20.5 1.6 4.3 -3.2 -4.1 3.4 9.2 9.3

Dental drills 77.7 13.8 -32.4 -14.0 -2.3 -9.5 -10.3 -3.4 1.8 1.8

Dental chairs -1.2 48.3 -19.4 -9.4 0.4 -7.0 -7.9 -0.8 4.6 4.6

Dental x-ray 41.6 39.5 -19.1 11.0 7.2 -0.7 -1.7 5.9 11.6 11.6

INSTRUMENTS &SUPPLIES 6.1 5.1 16.7 6.9 2.8 -4.6 -5.3 2.2 7.9 8.1

Dental cements 6.3 8.0 44.8 11.6 7.7 -0.2 -1.1 6.5 12.3 12.3

Dental instruments 10.3 -4.5 11.7 6.2 -1.9 -9.1 -10.0 -3.1 2.2 2.2

Teeth & other fittings -0.8 20.0 4.8 3.4 5.1 -2.5 -3.5 4.0 9.7 9.8

Artificial teeth 4.5 105.6 10.0 8.1 0.4 -7.0 -7.9 -0.8 4.6 4.5

Other dental fittings -1.5 8.1 3.4 2.1 6.5 -1.3 -2.3 5.2 11.0 10.9

Source: BMI Espicom




45/153

Dental Products Market, 2008-2018

Source: BMI Espicom




46/153

Dental Products Market, 2009-2018

US$mn CAGR

Source: BMI Espicom

Orthopaedics & Prosthetics Market Forecast

The Australian orthopaedic & prosthetic market is estimated at US$864.7mn in 2013, equal to US$37.2 per

capita and 18.0% of the total market.

Australia has a sizeable domestic orthopaedic & prosthetic production sector, but this concentrates on

exports. Products used locally, especially at the advanced end of the technology scale, tend to be imported,

principally from the USA, Ireland and Switzerland.

The orthopaedic & prosthetic market grew at a CAGR of 9.9% between 2008 and 2013. Driven by the

ageing population and increasing availability of newer more expensive products, Espicom projects that this

will be one of the better performing market segments in the coming years, albeit at a low CAGR of 1.7%

over the 2013-18. This is expected to take the overall market to US$939.5mn by 2018, equal to US$38.1 per

capita.




47/153

Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

ORTHOPAEDICS& PROSTHETICS 539.8 557.2 656.7 850.6 835.0 864.7 829.8 788.3 806.7 870.5 939.5 9.9 1.7

FIXATIONDEVICES 141.2 110.4 134.4 219.9 201.5 204.2 191.8 178.3 178.5 188.5 198.9 7.7 -0.5

ARTIFICIALJOINTS 171.0 156.6 194.2 245.0 280.2 294.4 286.6 276.2 286.6 313.5 343.0 11.5 3.1

OTHERARTIFICIAL BODYPARTS 227.6 290.2 328.0 385.7 353.3 366.0 351.3 333.8 341.6 368.5 397.6 10.0 1.7

Source: BMI Espicom

Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

ORTHOPAEDICS& PROSTHETICS 25.1 25.4 29.5 37.6 36.4 37.2 35.3 33.1 33.5 35.7 38.1 8.2 0.4

FIXATIONDEVICES 6.6 5.0 6.0 9.7 8.8 8.8 8.2 7.5 7.4 7.7 8.1 6.0 -1.7

ARTIFICIALJOINTS 7.9 7.1 8.7 10.8 12.2 12.7 12.2 11.6 11.9 12.9 13.9 9.8 1.9

OTHERARTIFICIAL BODYPARTS 10.6 13.3 14.7 17.1 15.4 15.8 14.9 14.0 14.2 15.1 16.1 8.3 0.4

Source: BMI Espicom




48/153

Table: Orthopaedics & Prosthetics Market, 2009-2018 (USmn % Change)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

ORTHOPAEDICS &PROSTHETICS 3.2 17.9 29.5 -1.8 3.6 -4.0 -5.0 2.3 7.9 7.9

FIXATION DEVICES -21.8 21.8 63.6 -8.4 1.4 -6.1 -7.0 0.1 5.6 5.6

ARTIFICIAL JOINTS -8.4 24.1 26.1 14.4 5.1 -2.6 -3.6 3.8 9.4 9.4

OTHER ARTIFICIAL BODYPARTS 27.5 13.0 17.6 -8.4 3.6 -4.0 -5.0 2.3 7.9 7.9

Source: BMI Espicom

Orthopaedics & Prosthetics Market, 2008-2018

Source: BMI Espicom




49/153

Orthopaedics & Prosthetics Market, 2009-2018

US$mn CAGR

Source: BMI Espicom

Patient Aids Market Forecast

The market for patient aids is estimated at US$792.1mn in 2013, equal to US$34.1 per capita and 18.0% of

the total market. Within this, portable aids account for US$562.5mn and therapeutic appliances for US

$229.7mn.

Australia has considerable production expertise in a number of these areas. Cochlear is one of the world's

leading developers of digital hearing aids, while ResMed is a major manufacturer of therapeutic respiration

products. Both companies make most of their sales in markets outside Australia, however. The Australian

market is therefore largely reliant on imports, primarily from the USA, China, Switzerland and Ireland.

The market grew at a CAGR of 4.8% between 2008 and 2013, but is projected to decline at a CAGR of

1.0% to US$755.0mn by 2018. In recent years, the strongest growth has been seen in the therapeutic

appliances segment, and this is the only area of the market expected to continue to show any growth over

the next five years.




50/153

Table: Patient Aids Market, 2008-2018 (US$mn)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018CAGR

2008-13CAGR

2013-18

PATIENT AIDS 626.8 551.6 682.5 810.0 787.8 792.1 738.8 683.6 681.7 717.2 755.0 4.8 -1.0

PORTABLE AIDS 475.3 408.5 470.3 576.4 563.1 562.5 521.1 478.7 473.9 494.8 516.8 3.4 -1.7

Hearing aids 111.8 96.4 116.8 143.4 138.1 139.0 129.8 120.6 120.7 127.4 134.4 4.4 -0.7

Pacemakers 121.5 116.6 130.9 147.2 177.8 181.5 171.6 160.6 161.9 172.0 182.8 8.4 0.1

Other portableaids 242.1 195.5 222.6 285.8 247.1 242.0 219.6 197.5 191.3 195.4 199.6 0.0 -3.8

THERAPEUTICAPPLIANCES 151.4 143.1 212.2 233.6 224.7 229.7 217.8 204.9 207.8 222.4 238.2 8.7 0.7

Mechano-therapyapparatus 63.8 54.0 61.3 70.2 81.2 80.0 73.0 65.9 64.1 65.7 67.4 4.6 -3.4

Therapeuticrespirationapparatus 87.7 89.1 150.9 163.4 143.5 149.7 144.8 139.0 143.7 156.6 170.7 11.3 2.7

Source: BMI Espicom

Table: Patient Aids Market, 2008-2018 (US$ Per Capita)

20

australia medical devices report

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