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The Outlook for Medical Devices in Central & Eastern Europe
Espicom Business Intelligence Ltd, Sep 2009
The countries of central and eastern Europe represent a total market of 303 million people and a combined GDP of US$2.5 trillion in 2009. Each country report provides a comprehensive analysis of the medical device market, including five-year market forecasts. For each country you will receive 4 completely updated reports sent quarterly, plus comprehensive report sent annually.
Executive Summary
The countries of central and eastern Europe represent a total market of 303 million people and a combined GDP of US$2.5 trillion in 2009
The region is composed of a diverse range of markets, all at different stages of development. Many of the CEE markets exhibit fast growth rates, and the region as a whole is expected to grow annually by 9.4%, to reach US$14.2 billion in 2014. Serbia, Bulgaria and Romania are experiencing the highest growth rates, unlike the sluggish markets of Hungary and Slovakia.
The impact of EU accession on the medical device market
In May 2004, eight of the CEE markets in question joined the European Union. In January 2007, Romania and Bulgaria also became full members of the EU. Much of the medical device legislation within the region has therefore been harmonised with that of the EU, although countries such as Poland are still in the process of transposing EU directives into national law. The implementation of GMP is also taking place across most of the region and the inevitable improvement in the quality of overall production will lead to a rise in market values.
Multinational interest expands markets
The streamlining of device registration across the region has made the CEE markets more appealing to foreign firms. Increased multinational presence and the acquisition of domestic companies will raise the profile of the markets and encourage further migration into the region. Although multinationals tend to produce devices within Central and Eastern Europe largely for export, the products of companies partly-owned by foreign manufacturers are also destined for local markets.
Modernisation of healthcare facilities and market growth
Most CEE countries are attempting to decentralise their healthcare systems and are replacing ageing facilities and equipment. As a result, the value of imports has risen in recent years, especially in Russia, where imports rose by 61.5% between 2006 and 2007. Imports are likely to continue rising for the foreseeable future throughout the region.
Complete quarterly-updated analysis to keep you informed
Now you can easily evaluate these markets with The Outlook for Medical Devices in Central & Eastern Europe. Each report provides individual and highly-detailed analysis of each market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access. The reports are available individually, or as a discounted collection, and prices include 4 completely-updated reports sent quarterly which include a comprehensive appendix providing a wealth of health statistics and over 1600 qualified leads for specialist medical distributors. There are over 65 markets covered in the worldwide medical device series.
12 Major Markets Covered!
Belarus Czech Republic Romania Slovakia
Bulgaria Hungary Russia Slovenia
Croatia Poland Serbia Ukraine
Highlights from the region
THE REGION
Russia, Poland, the Czech Republic, Hungary and Slovakia represent the five largest markets in the region. The Russian market has the potential to expand much further due to its large population and the national 'Health' project has increased the demand for medical equipment in the short-term, but total health expenditure remains low at only 5.3% of GDP. The Balkans are among the fastest-growing markets in the region. Slovenia is the wealthiest country in the region, which is able to spend 8.9% of GDP on healthcare expenditure; this is the second-highest rate, behind only Serbia.
CZECH REPUBLIC
The Czech Republic was one of the larger and richer former Soviet bloc countries to join the EU in May 2004. The market is valued at US$1,481 million in 2009 and its per capita expenditure of US$145 is one of the highest in the region. Czech medical device regulations are largely in line with EU standards and EU membership has made the CE mark mandatory for local manufacturers. The country has a small but skilled manufacturing sector, with production geared towards the low to medium end of the technology scale. Domestically produced devices are of increasingly good quality.
POLAND
The Polish market is estimated at US$2,015 million in 2009, placing it in the world’s top 20. This impressive market size can be partly attributed to the population of 38 million, although per capita expenditure is average. Poland has a strong industrial base but imports around two thirds of its medical devices. This is similar to the situation in other neighbouring countries, where local production does not meet the demand for equipment. Market growth is expected to remain at 8.6% over the next few years.
HUNGARY
Hungary is a highly developed Central European market. The recent loosening of regulations governing the ownership of healthcare facilities has provided a gateway for private organisations into the healthcare sector. To date, privatisation has largely been confined to the management of facilities, although heavier investment in equipment is expected to follow. This will increase the market size further, as private facilities tend to purchase the best, and therefore most expensive equipment available. The Hungarian medical device market stands at US$662 million in 2009 and is expected to reach US$894 million by 2013, assuming that the current annual growth rate of 6.2% is sustained.
ROMANIA
The Romanian market is performing well and expanding at a rate of 7.9% per annum. Romania joined the EU in January 2007 and has worked hard to meet the accession requirements. The rate of market growth may increase over the next few years as the benefits of EU membership are felt. The degree to which the health sector will improve however, will depend on the coalition government’s ability to curb the political meltdown that has occurred since EU accession and recommence reforms.
UKRAINE
Ukraine is the second largest country in Europe, yet represents only a small, if fast-growing, medical device market. Per capita expenditure is valued at only US$5 in 2009 and the market size is an estimated US$249 million. Due to the growth rate of 6.9% however, the Ukrainian market is expected to reach US$347 million by 2014. This stands well above the projected US$356 million for Serbia and US$357 million for Belarus. The rate of reform and privatisation within the healthcare sector is expected to rise under the current President and this will in turn boost the market size. ..... FOR EVERY MARKET,
SENT QUARTERLY
MARKET OUTLOOK
Current market size
Unique 5-year market projections to 2013
Market outlook
Market structure
Statistical data on imports and exports
Market developments, covering recent and impending developments with respect to key issues such as regulation, health facilities, funding and
government policy
Key national data projections
International market comparisons
FOR EVERY MARKET,
SENT ANNUALLY
BACKGROUND DATA
Population data, including growth trends and age structure
Demographic indicators detailing principal causes of death and morbidity
HEALTHCARE SYSTEM
Organisation & administration
Health expenditure
Expenditure by source of funding and type
Hospital services
Hospital data such as beds by type, region, specialty, patient admissions and surgical procedures
Outpatient care
Medical personnel
Data on healthcare professionals covering such areas as doctors by specialty, nursing staff and dentists
ACCESSING THE MEDICAL MARKET
Regulatory environment
Distribution guide and trade fair information
Domestic production
CONTACT DETAILS
For healthcare organisations and trade associations
Please note: From September 2008 we started to issue the Outlook reports in a new and improved format. These include the same information as described above but differently organised to facilitate better presentation of the analysis and supporting data.
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