Health kick: Increased demand for health-care services supports industry revenue growth

The Republic of Ireland is one of the world's leading manufacturers of medical products. The industry expanded during the past five years, fuelled by growth in exports. The ageing population across the world, coupled with higher levels of obesity, increased demand for health-care services and contributed to the rise in exports. Operators focused heavily on manufacturing sophisticated medical and dental products, which also propelled export growth. Meanwhile, domestic demand conditions expanded, aided by overall population growth in the country and increases in public and private health-care spending, and contributed positively. However, import competition strengthened and curtailed growth somewhat...read more.

Industry Statistics & Market Size
Revenue
£15bn
Annual Growth 13-18
7.0%
Forecast Growth 18-23
Profit
Employment
28,609
Businesses
319
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Global demand for health care has supported industry exports over the past five years
  • Firms that developed more advanced products were relatively shielded from import competition
  • Competition is likely to grow as overseas players focus on manufacturing sophisticated medical products
  • Industry Report - Industry Analysis Chapter

    The industry has grown over the past five years. The industry's performance is heavily reliant on exports, as exports generate over 70% of revenue. Exports increased, supported by the ageing population across the globe fuelling an increase in the incidence of age-related health conditions, such as arthritis. Domestic demand also increased, propelled by the ageing population in the Republic of Ireland and overall population growth, and contributed positively. In addition, technological advances and significant research and development activity undertaken by operators to enhance their products also propelled growth. However, import competition intensified during the past five years and curtailed revenue growth to some extent. Rev...purchase to read more.

    Additional Insights for the Medical & Dental Instrument Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical & Dental Instrument Manufacturing Industry are

  • Establishment of brand names
  • Access to highly skilled workforce
  • Establishment of export markets
  • IBISWorld analysts also discuss how external factors such as Public healthcare expenditure and MSCI World Index in the Medical & Dental Instrument Manufacturing industry impact industry performance..

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    What's in this report

    What is the Medical & Dental Instrument Manufacturing in Ireland Industry?

    Operators in the Medical and Dental Instrument Manufacturing industry manufacture laboratory apparatus, surgical and medical instruments, surgical appliances and supplies, dental equipment and supplies, orthodontic goods, dentures and orthodontic appliances. The industry also includes firms that manufacture medical and dental furniture where the additional specific functions determine the purpose of the product, such as dentists’ chairs with built-in hydraulic functions.

    Industry Products
  • Needles, catheters, cannulas, stents and syringes
  • Artificial joints
  • Apparatus for nerve stimulation
  • Appliances for ostomy use
  • Industry Activities
  • Manufacturing ophthalmic goods, eyeglasses, sunglasses, prescription lenses and safety goggles
  • Manufacturing bone plates and screws, syringes, needles, catheters and cannulas
  • Manufacturing dental preparations, artificial teeth and bridges, dental instruments and dental lab furnaces
  • Manufacturing medical, surgical, dental or veterinary furniture
  • Manufacturing laboratory sterilisers, laboratory-type distilling apparatus and laboratory centrifuges
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Public healthcare expenditure
  • MSCI World Index
  • Exchange rate - euros per US dollar
  • Population
  • Population aged 65 years and over
  • Private healthcare expenditure

  • Current Performance
    Domestic conditionsTrade influencesMargins widen
  • Chart: Revenue Growth

  • Industry Outlook
    Domestic demand expandsExports aid growthPotential difficultiesMargins unchanged
  • Table: Medical & Dental Instrument Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical & Dental Instrument Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Hospitals in Ireland
  • General Medical Practices in Ireland
  • Dental Practices in Ireland

  • Key Selling Industries
  • Plastic Packing Goods Manufacturing in Ireland
  • Primary Form Plastics Manufacturing in Ireland

  • Products & Services
  • Needles, catheters, cannulas, stents and syringes
  • Artificial joints
  • Other
  • Apparatus for nerve stimulation
  • Appliances for ostomy use
  • Chart: Medical & Dental Instrument Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Wholesalers
  • Direct sales
  • Chart: Major Market Segmentation for the Medical & Dental Instrument Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Medical & Dental Instrument Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical & Dental Instrument Manufacturing Industry

  • Industry Globalization
    Boston Scientific Corporation, Medtronic plc, Cook Ireland Ltd,
  • Table: Boston Scientific Corporation - financial performance
  • Table: Medtronic plc - financial performance
  • Table: Cook Ireland Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical & Dental Instrument Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Medical & Dental Instrument Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Cannula
  • A cannula is a short flexible tube that is introduced into the blood vessel.
  • Catheter
  • A catheter is a tube that is substantially longer than a cannula and is inserted into visceral cavities like the urinary tract.
  • Stent
  • A stent is a metal or plastic tube inserted into the lumen or an anatomic vessel or duct to keep the passageway open.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Medical & Dental Instrument Manufacturing in Ireland market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical & Dental Instrument Manufacturing in Ireland:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical & Dental Instrument Manufacturing in Ireland market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical & Dental Instrument Manufacturing in Ireland, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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