The report helps businesses gain a unique insight into the socio-economic dynamics, and helps analyze how they affect healthcare systems and their evolution. It can serve as a valuable tool with actionable guidance for sales, marketing, R&D and business managers with industry related interests.
Four chapters cover the numerical and written analysis for the following topics: Economic Outlook (38 Key industry indicators), The Healthcare System (HC system structures), Reforms (restructuring, re-engineering or austerity efforts) and the Healthcare Market (Capital Equipment, Medical Devices, Disposables and Pharmaceuticals).
The TforG report is accessible through a user friendly Business Intelligence tool. Licenses are valid for 1 year.
- Nominal GDP totaled €207 bn in 2015, equivalent to €37,827 per capita. The Finnish economy has been contracting over the past 3 years, but is forecasted to pick up growth again in the coming years.
- The value of exports to the EU actually increased by 7%, yet the overall net value for exports reflects a negative growth rate due to the substantial decline of long-distance deliveries.
- Their top trading partners for imports and exports are Sweden, Germany, Russia, the USA, China and the Netherlands.
- The unemployment rate is currently around 9.3%.
- Inflation is at a downward trend, having declined from 3.3% in 2011 to an estimated average -0,16% in 2015. By 2017 it is expected to reach 1.4%.
- Finland had a public debt of 62.4% of GDP in 2015, which is forecasted to increase to 66.2% by 2017.
- Public investments have been increasing over the past 5 years, yet will probably decline again due to fiscal constraints to be implemented.
- Finland’s birthrate is 10.3; an average rate for a developed nation.
The Healthcare System:
- Healthcare in Finland consists of a highly decentralized, three-level publicly funded system and a partially publically-funded private healthcare sector.
- These services are usually provided in municipal healthcare centres and in District Hospitals.
- Finland ranks 5th of EU nations in its use of IT health applications.
- Finland’s healthcare is considered successful, particularly in regards to specialized medical care and the coverage of its screening and vaccination programs.
- Infant mortality in Finland, around 1.9 deaths per 1000 live births, is amongst the lowest rates worldwide. Their average life expectancy, around 81.3 years old, is also amongst the highest internationally.
- Healthcare spending in 2015 was equal to 9.8% of GDP. This reflects an increasing trend over the past 5 years. This is in the lower ranges of the EU average expenditure.
- Inpatient care represents 35% of the healthcare expenditures.
- A major SOTE reform is being implemented in 2015 to be completed by 2018. It will regroup the Districts in 5 SOTE regions, which will centralize decision making and budgeting for the municipalities in the region. – Valvira is the national authority that manages licensing and registration of medical devices and products, to ensure safety, and regulatory and market compliance.
- Finland does not require the private provider to go through a registration process in order to be entitled to reimbursements under the national insurance provider.
- Challenges facing Finish healthcare include:
Unmet care demands
Waiting times for elective surgery and primary care
Rural physician shortage
Functional impediments of the elderly
Rise of obesity
- Recent regulatory changes include:
SOTE – Health, social services and regional government reform (2014-2019)
Basic service: National Development Program for Social Welfare and Health Care (Kaste) (2012–2015)
National Development Plan on Informal Care Support (2014)
Freedom to choose care provider (2014)
Other reforms and organizational changes
- According to TforG’s estimates, medical equipment represents about €1.05 bn in 2015, and this amount is expected to expand yearly by 3.5 to 5% in the coming 3 years.
- The market is driven by replacing and updating older equipment, an aging population, and increased pressure for cost containment.
- More than 80% of medical technology is imported. The largest importing nations are the USA, Germany, the UK, Australia, Japan and China.
- The private sector plays a strong role in certain sectors of care provision, mainly in primary and tertiary care.
- The market leans toward innovative products and therapies, especially if they increase productivity and reduce hospital stays and occupancy rates.
- Central purchasing or municipality-procurements for public hospitals and associated clinics are public tender-based.
- Pharmaceuticals represent about 12.5% of total healthcare expenditures. Generic drugs represent 45% of the volumes or 22% of the value of the Finnish market.
- The medical technology market at €940 m in 2015, of which about €395 m in hospital CAPEX and €550 m for medical devices.
- Healthcare organization aims for a further coordination and collaboration between health care and social affairs.
Includes tables centralizing all relevant data on socio-demographics, macroeconomics and national Healthcare.
National Care Provision data:
Provides an overview of the Healthcare demographics: Nation Care provision data, Intensive Care units, Operating rooms, Emergency Rooms, Hospital services, Healthcare professionals.
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