Slight static: Opportunities for industry growth are expected, but so is increased competition

The Medical and Orthopaedic Supplies Retailers industry has endured tough operating conditions over the past five years. The NHS represents the industry's largest source of competition, offering free treatments and products to qualifying patients. Furthermore, competitive threats from the private sector, pharmacy chains and dispensing chemists have persisted. Online-only operators have expanded their product offerings and captured market share from specialist retailers. As a result, over the five years through 2019-20, IBISWorld expects industry revenue to expand marginally at a compound annual rate of 2.2%, reaching £671.4 million. Revenue is forecast to grow by 2.3% in the current year, although this disguises a significant degree of revenue more.

Industry Statistics & Market Size
Annual Growth 15-20
Forecast Growth 20-25

Industry Threats & Opportunities

  • Overall industry revenue growth disguises asignificant degree of revenue volatility
  • The ageing population and the health and mobility issues associated have boosted industry demand
  • Growth is likely to be constrained by rising external competition from pharmacies and the NHS
  • Industry Report - Industry SWOT Analysis Chapter

    The Medical and Orthopaedic Supplies Retailers industry is in the mature stage of its life cycle. The value that the industry adds to the economy is growing more slowly than the economy as a whole. Over the 10 years through 2024-25, the industry's contribution to GDP is expected to increase at a compound annual rate of 0.6%, while GDP is estimated to grow at a compound annual rate of 1.7% over the same period. This suggests the industry is in the mature stage of its life cycle.Demand for medical and orthopaedic goods is expected to grow at a relatively strong pace over the five years through 2024-25, due mainly to an ageing population. The...purchase to read more.

    Additional Insights for the Medical & Orthopaedic Supplies Retailers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical & Orthopaedic Supplies Retailers Industry are

  • Proximity to key markets
  • Effective product promotion
  • Having links with suppliers
  • IBISWorld analysts also discuss how external factors such as Population aged 65 years and over and Real private consumption expenditure in the Medical & Orthopaedic Supplies Retailers industry impact industry performance..

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    What's in this report

    What is the Medical & Orthopaedic Supplies Retailers Industry?

    Operators in this industry retail medical and orthopaedic equipment, including mobility aids, hearing aids and other orthopaedic equipment. Operators also test and fit customers with the products. This industry excludes wholesaling and optical product retailing and online-only retailers.

    Industry Products
  • Hearing aids and tests
  • Mobility aids
  • Orthotic and prosthetic equipment
  • Other medical supplies
  • Industry Activities
  • Selling mobility aids
  • Selling hearing aids
  • Selling other medical and orthopaedic equipment
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Population aged 65 years and over
  • Real private consumption expenditure
  • Demand from general medical practices
  • Total health expenditure
  • Health consciousness

  • Current Performance
  • External competition
  • Competition and assistance
  • Demographic trends
  • Technology and expansion
  • Market structure and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Constraints and competition
  • Demographic drivers
  • Opportunities for growth
  • Market structure and profit
  • Table: Medical & Orthopaedic Supplies Retailers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical & Orthopaedic Supplies Retailers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • General Medical Practices
  • Consumers

  • Key Selling Industries
  • Computer & Peripheral Equipment Manufacturing
  • Electromedical & Imaging Equipment Manufacturing
  • Medical & Dental Instrument Manufacturing

  • Products & Services
  • Hearing aids and tests
  • Mobility aids
  • Orthotic and prosthetic equipment
  • Other medical supplies
  • Chart: Medical & Orthopaedic Supplies Retailers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 65 and over
  • People aged between 45 and 64
  • People aged between 25 and 44
  • People aged 24 and under
  • Chart: Major Market Segmentation for the Medical & Orthopaedic Supplies Retailers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesProfitOver the five years through 2019-20, IBISWorld estimates profit margins to have come under pressure due to greater competition from supermarkets and online-only retailers offering the same products at lower prices. In addition, a vast majority of medical products supplied by the industry are imported, exposing the industry to exchange rate fluctuations. The weak pound since the result of the EU referendum has increased purchase costs, dampening margin growth. The introduction of the National Living Wage in 2016 has also weighed on profit. In 2019-20, profit is estimated to account for 7.7% of industry revenue. PurchasesDepreciationMarketingRentUtilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Medical & Orthopaedic Supplies Retailers

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical & Orthopaedic Supplies Retailers Industry

  • Industry Globalization
    Specsavers UK Holdings Ltd, Boots Hearingcare Ltd, Hidden Hearing Ltd,
  • Table: Specsavers UK Holdings Ltd - financial performance
  • Table: Boots Hearingcare Ltd - financial performance
  • Table: Hidden Hearing Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical & Orthopaedic Supplies Retailers 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 & Orthopaedic Supplies Retailers Industry
  • Industry Revenue (2011-2025)
  • Industry Gross Product (2011-2025)
  • Establishments (2011-2025)
  • Businesses (2011-2025)
  • Employment (2011-2025)
  • Wages (2011-2025)
  • Wages (2011-2025)
  • Purchases (2011-2025)
  • Profit (2011-2025)
  • Depreciation (2011-2025)
  • Marketing (2011-2025)
  • Rent (2011-2025)
  • Utilities (2011-2025)
  • Other (2011-2025)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A health-care professional that specialises in identifying, diagnosing, treating and monitoring disorders of the ear.
  • Clinical Commissioning Group
  • An NHS organisation set up by the Health and Social Care Act 2012 to organise the delivery of services in England.
  • Orthopaedics
  • A branch of medicine that deals with preventing or correcting injuries or disorders of the skeletal system and the associated muscles, joints and ligaments.
  • Prosthesis
  • An artificial replacement for a body part.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Medical & Orthopaedic Supplies Retailers market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    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 & Orthopaedic Supplies Retailers:
    • 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 & Orthopaedic Supplies Retailers 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 & Orthopaedic Supplies Retailers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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