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The Medical Device Market: Romania
Espicom Business Intelligence Ltd, Oct 2011, Pages: 58
In 2011, the Romanian market for medical equipment and supplies is estimated at US$373 million, or US$17 per capita. The value fell back somewhat in 2009, due to the effects of the economic downturn and the delay of planned investments. The market is expected to grow by an average 8.9% in the 2011-16 period. This will bring the total to around US$571 million (US$27 per capita) by 2016.
Romania is located in south-eastern Europe, bordering Hungary, Ukraine, Moldova, Bulgaria and Serbia. In 2011, the population is estimated at 21.4 million, making it one of the largest countries in the region. Romania became an EU member state in 2007.
Healthcare funding in Romania is largely through the National Health Insurance Fund. Healthcare provision is predominantly managed by the state, although the private health sector is starting to grow. Government health expenditure is very low, even by Eastern European standards. Romania spends around 5.5% of GDP on healthcare.
Improvements to the health system continue to be supported by World Bank-sponsored projects. The ‘Health Sector Reform Project APL II’, was approved in December 2004 and will run until December 2011, aims to improve maternity and newborn care, emergency medical care and rural primary healthcare. In 2011, the World Bank is currently considering a further tranche of funding, worth US$337 million.
Around 90% of the medical device market is supplied by imports. These have risen sharply in recent years, as the general level of health spending increases and new diagnostic equipment has been purchased for hospital refurbishments. Imports in these areas have fallen back in 2009 and 2010.
Includes 3 quarterly updated outlook reports!
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