Pestel Analysis Of Coloplast
PESTEL Analysis Political Factors Reform of healthcare and various regulations in different countries can both negative and positive impact on the medical devices companies. The biggest pressure of Coloplast comes from Europe reforms because the company makes most of its revenue in Europe. German issued the reform, which sickness funds cut down the reimbursement of the ostomy care supplies, caused negative effect on Coloplast. It limited sales of medical supplies companies and increased the bargaining power of buyers. On the other hand, the reform on reducing the corporate tax from 25% in 2013 to 22% in 2016 in Danish was a good news for Coloplast. This reform increased residents’ disposable income and provided more sales for Coloplast in the following. Economic Factors There are four main Economic factors in the healthcare supplies industry. Firstly, financial crisis does not affect the medical devices companies at first. However, when the economic crisis prevails, people may switch to lower cost alternatives due to lacking of the financial support from government. Secondly, because Coloplast is a Global Operations Company, the fluctuation in exchange rates is another main economic factor for it. The data of DKK/USD and DKK/CNY in recent year indicates that Danish Krone significantly weakened to USD and CNY during those years; therefore, Coloplast increased related cost of production in those countries. In addition, oil price, which related to the price of raw materials,
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