Healthcare, Regulatory and Reimbursement Landscape – UK

Jan. 25, 2012 - PRLog -- In 2010, the UK was estimated to hold 62.3 million people, giving the UK the third-largest population in the European Union (EU). The available data for the age distribution of the population of the UK asserts that the population of people over 60 years of age had increased from approximately 20.9% of the total population in 2005 to approximately 22.3% in 2010. This proportion is expected to reach approximately
24.3% by 2020. According to the Office for National Statistics (ONS) in the UK, the number of people aged 100 years and above increased from approximately 2,600 in 1981 to approximately 11,600 in 2009, and it is estimated to reach approximately 87,900 by 2034. This increase in the elderly population is due to high life expectancy, driven by improved living standards and nutrition status as well as universal access to quality healthcare services.

The birth rate in the UK increased from 12 per 1,000 population in 2005 to 13 per 1,000 population in 2010 and is expected to reach 15.3 per 1,000 population by 2020. In the UK, the mortality rate decreased from 9.7 per 1,000 population to 9 per 1,000 population. Deaths from the major diseases such as cancers and circulatory diseases have decreased significantly over the last two decades.

The pharmaceutical market in the UK was approximately $23 billion in 2010 and is projected to reach approximately $28.7 billion by 2020 with a Compound Annual Growth Rate (CAGR) of 2.2%. The UK is one of the most profitable healthcare markets among the European Union member states. The government is allotting funds to encourage Research and Development (R&D) to enhance the prevention and treatment of diseases such as cancer and diabetes.

For Sample Pages, please click or add the below link to your browser:
http://www.globaldata.com/ReportStore/RequestSamplePages....

The slow growth of the market is due to the effect of generic substitution and the cost-cutting measures adopted by the government and National Health Service (NHS). Price cuts were one of the reasons for the decline of the market. The UK’s government introduced price cuts of 3.9% in 2009 and 1.9% in 2010 on branded medicines in order to reduce NHS expenditure on branded medicines. Generic substitution by pharmacists was implemented by the NHS in 2009, and has also resulted in a decrease in overall the valuation of the pharmaceutical market.

The size of the medical device market was approximately $10.7 billion in 2010. The UK was ranked fourth in the Europe, after Germany, France and Italy in terms of the size of the medical device market in that year. The market is projected to reach approximately $16 billion by 2020, with a projected CAGR of 3.9%.

In 2010, the major segments of the medical devices market in terms of market share were ophthalmic devices ($1.3 billion), orthopaedic devices ($1.3 billion) and cardiovascular devices ($1 billion).

GlobalData, the industry analysis specialist, has released its new report, “Healthcare, Regulatory and Reimbursement Landscape - UK”. The report is an essential source of information and an analysis on the healthcare, regulatory and reimbursement landscape of the UK. The report identifies the key trends in the healthcare market of the UK. The report also provides insights on the demographic, regulatory, reimbursement landscape and healthcare infrastructure of the UK. Most importantly, the report provides valuable insights on the trends and segmentation of pharmaceutical and medical devices market. This report is built using data and information sourced from proprietary databases, secondary research and inhouse analysis by GlobalData’s team of industry experts.

For further details, please click or add the below link to your browser:
http://www.globaldata.com/ReportStore/Report.aspx?ID=Heal...

Visit our report store: http://www.globaldata.com/reportstore

For more details contact:
pressreleases@globaldata.com
           
North America:    +1 646 395 5477
Europe:        +44 207 753 4299
           +44 1204 543 533
Asia Pacific:       +91 40 6616 6782

# # #

GlobalData is a global market intelligence services company providing information research and analysis products and services.