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The Medical Device Market: Greece
Espicom Business Intelligence Ltd, Sep 2009, Pages: 156
This in-depth medical device market report is ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Executive Summary
Greece is one of the least affluent members of the European Union, but is still considerably richer than its immediate neighbours. The economist Intelligence Unit estimates GDP to be US$335.2 billion in 2009, with a 3.4% fall on the previous year, however returning to average growth by 2011. GDP per capita is projected to be US$30,490 per capita in 2009.
The medical device market is estimated in 2009 to be US$1,452million, equal to US$132 per capita. This is a 15.4% increase on the previous year’s total.
Greece is showing signs of recovering from the large budget deficit incurred as a result of holding the Olympics in 2004. The deficit has been cut to a forecast of 2.5% in 2007 from the 7.9% recorded in 2004. The government’s target is to reduce the deficit to less than 1.6% in 2009.
There are a large number of doctors working in Greece, providing good hospital coverage. Current primary care provision is however weak; increased government investment and spending in this area is a key objective.
The majority of hospitals in the public sector are underfunded. Private clinics are well funded but the high value equipment tends to be imported in both public and private healthcare sectors.
Imports supply approximately 95% of the domestic market. In 2008, total imports of medical devices amounted to US$1,489.5 million, the value of imports increased by 19.1% in 2008 and by a CAGR of 19.0% between 2003 and 2008.
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