Analysis of medical device market in Central Europe and Baltic States

Published on February 6, 2014 at 6:58 AM · No Comments

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Key uses of Medical Devices Reports

Forecast the pace and stability of each Australasian country's economic and industry growth
Identify and evaluate adverse political and economic trends in key markets, to facilitate risk mitigation strategies
Assess critical shortcomings of each Australasian country's business environment that pose hidden barriers and costs to corporate profitability
Contextualise individual Australasian country risks against their Asian regional peers using BMI's country-comparative risk ratings system
Target business opportunities in the key-growth industry sectors
Evaluate external threats to doing business in each Australasian country, including currency volatility, the commodity price boom and protectionist policies

Highlights from the Region

CZECH REPUBLIC

The Czech Republic was one of the larger and richer former Soviet countries to join the EU in May 2004 It is well-located in Central Europe and has an estimated population of 10 6 million in 2013 Healthcare funding is largely public, and mainly through health insurance Private spending only accounted for an estimated 16 9% of total health expenditure in 2012 Provision of care is also largely public; the Czech Republic has yet to develop a substantial private sector Around 80% of the Czech Republic medical device market is supplied by imports, which rose rapidly until 2009, when growth became more subdued In 2011, 35 7% were sourced from Germany Other major suppliers were the Netherlands, Belgium, Switzerland and France In 2011, imports rose by 6 6% over 2010 and by a 2007-11 CAGR of 8 2%

HUNGARY

In 2012, the Hungarian market for medical equipment and supplies was estimated at US$639 million, or US$64 per capita The market value has stalled since 2008, but it is expected to bounce back by a CAGR of 7 0% in the 2012-17 period, reaching US$895 million, equal to US$90 per capita Around 84% of the medical device market is supplied by imports Most are sourced from the European Union, principally the Netherlands and Germany There is a sizeable domestic production sector, with X-ray apparatus as a particular historic specialty, but this is largely geared towards export markets

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