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The Medical Device Market: Czech Republic
Espicom Business Intelligence Ltd, Sep 2009, Pages: 102
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
The Czech Republic was one of the larger and richer former Soviet countries to join the EU in May 2004. Its regulation and trade rules are now generally aligned to EU standards. It is well-located in central Europe and has an estimated population of 10.2 million in 2009.
Healthcare funding is largely public, and mainly through health insurance. Private spending only accounts for an estimated 12.1% of total health expenditure in 2009. Provision of care is also largely public; the Czech Republic has yet to develop a substantial private sector.
Responsibility for hospitals was devolved to local governments in 2003. This has shifted the burden of hospital debt to local authorities. Some are planning privatisations, although this is politically controversial and likely to be stopped by the national government.
The country has a small but skilled manufacturing sector. Production is at the low to medium end of the technology scale, but is increasingly of good quality. EU membership has made the CE mark mandatory for local manufacturers. Local producers tend to concentrate on export markets.
Nearly three-quarters of the medical device market is supplied by imports. Germany and the USA were the leading suppliers in 2007, accounting for over 40% of imports. The value of imports increased by 14.9% in 2007, reaching US$865.0 million.
In 2009, the Czech market for medical equipment and supplies is estimated at US$1,481 million, or US$145 per capita. It is expected that the device market will continue to expand at a CAGR of 9.9% per annum, reaching US$2,379 million, or US$235 per capita, by 2014.
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