FINLAND - Medical Device Industry and Demographic Data

Shown below you will find some basic demographic and economic data, plus information specific to the medical device and healthcare industry.

Capital city: Helsinki

Total area: 338 000 km²

Population: 5.3 million

Currency: euro

Languages: Finnish, Swedish

Structure of population:
0-14 years: 16.4%
15-64 years: 66.8%
65 years and over: 16.8% (2009 estimate)

Healthcare expenditure: $2 781 per capita (at int. $ rate, 2007 data)

Number of hospitals: 349 (2006 data)

Healthcare financing: The healthcare sector is in transition. Hospitals get their revenue from the municipalities according to the services used by their inhabitants and on the base of DRG. Almost half of inpatient care is financed on the base of FinDRG system. Six hospital districts out of 20 use the DRG-based pricing system. With regards to primary sector, physicians are salaried employees.

Medical device industry: The Medical market is highly developed and mature. The medical device market was estimated to be US$921 million. The market is likely to be affected by the global economic crises. The overall market growth is slow with estimated increase by 7.1 % per annum. The domestic production reached $777.1 million (€528.4 million) in 2005. Although Finland has a strong domestic industry, the medical device market is dependent on import, which reached $793.2 million in 2008 (13.2 % increase in 2004 - 2008). Exports amounted $1.29 billion which represents almost 17% increase between 2006 and 2008. The main imported product categories are dental products and diagnostic imaging apparatus. The structure of the Finnish domestic industry is comprised of mainly small and specialized companies.