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The Medical Device Market: Bulgaria
Espicom Business Intelligence Ltd, Oct 2011, Pages: 62
Bulgaria is located in south-eastern Europe, bordering Romania, Serbia, Macedonia, Greece and Turkey and is one of the newest members of the EU, joining in January 2007, alongside Romania. The population of Bulgaria is estimated at 7.4 million in 2011, 18.2% of whom are aged 65 or over.
Funding for healthcare in Bulgaria is principally through compulsory health insurance, operated by the National Health Insurance Fund. The role of the NHIF is to provide a basic package of health services for the whole population. The government is divided on whether to allow private companies to operate in the insurance sector. Private spending is currently almost entirely on an out-of-pocket basis.
In 2011, the Bulgarian market for medical equipment and supplies is estimated at US$174.5 million, or US$24 per capita. This is a marked reduction when compared with 2007 and 2008, largely due to lower spending on capital items. A slow but unspectacular recover should take the market to US$215 million by 2016.
There is some production and export of basic items, but the market is largely import-reliant. The overall level of imports has risen greatly in recent years, most notably in the wake of EU accession in 2007. This level of spending has not been maintained in 2009 and 2010, however, due to falling investment and greater use of cheaper sources of supply such as China.
Includes 3 quarterly updated outlook reports!
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