Research and Markets (http://www.researchandmarkets.com/research/ae3894/the_medical_device) has announced the addition of the "The Medical Device Market: Austria" report to their offering.
The population of Austria is estimated to be 8.4 million in 2009 with 18.0% of the population aged 65 and over. Vienna is the most populated region of Austria accounting for 20.1% of the population.
The market for medical equipment is valued at US$2,202 million in 2009, equal to US$262 per capita, and is forecast to grow by 5.6% over the next few years to reach US$2,893 million by 2014.
Austria has a stable, mature economy but will nevertheless be affected by the global economic downturn. Real GDP growth is expected to fall to -4.3% in 2009, according to figures from the Economist Intelligence Unit, rising to 0.9% in 2011 and 2.3% in 2014.
Healthcare expenditure has continued its steady growth in recent years, increasing by 4.4% to reach 27.5 billion euros (US$31.6 billion) in 2007, with private expenditure accounting for around 22.6% of the total. Of this, 1.8 billion euros (US$2.4 billion) was spent on pharmaceutical products and medical durables and non-durables.
Imports account for a large percentage of the market, and increased by 14.9% in 2008, amounting to US$1.8 billion. The CAGR in the period between 2004 and 2008 was 10.0%. The largest import category in 2008 was consumables, accounting for 24.3% of total imports. The balance of trade deficit increased to US$242.0 million in 2008 from US$136.6 million in 2007.
Domestic production of medical devices tends to be small scale and specialist in nature. Many large multinationals have established offices in Austria in order to take advantage of the country's close proximity to the emerging markets of Central and Eastern Europe.
In common with many other Western European countries, Austria has an advanced healthcare system. There is an eagerness to be at the forefront of technological development; the purchasing of new equipment reflects this.