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The Medical Device Market: Ukraine
Espicom Business Intelligence Ltd, Oct 2011, Pages: 54
Ukraine is the second largest country in Europe and the 22nd largest in the world. The population is estimated at 45.3 million in 2011. Ukraine aspires to join the EU, but membership is unrealistic for the foreseeable future. Relations with Russia remain complex; they have become more aggravated by Ukraine?s dependence on gas imports from the federation and recent price hikes.
Ukraine experienced a severe recession in 2009, with GDP falling by 15%. The country's economic problems have been worsened by political in-fighting. An IMF bailout worth US$16.4 billion was agreed in 2008, but suspended in late 2009 by government reluctance to rein in the public deficit. In February 2010, a presidential election was held. The result was controversial and fiercely disputed, but the eventual winner was Victor Yanukovych, a former prime minister with close Russian links. He defeated the incumbent prime minister, Yulia Tymoshenko, who has been arrested on corruption charges in 2011.
Healthcare funding in Ukraine is largely through taxation. However, a system of public healthcare insurance has been under discussion since at least 1996; the government now
plans to introduce legislation in 2012 to create such a system in 2015-16. Government health expenditure is very low, even by Eastern European standards. Ukraine spends around 6.4% of GDP on healthcare, which is one of the lowest levels in Europe. Healthcare should be free for the whole population, but due to a lack of funding, patients are usually forced to make out-of-pocket payments. There is virtually no private health insurance.
In 2011, the Ukrainian market for medical equipment and supplies is estimated at US$686 million, or US$15 per capita. The market was hit sharply by falling imports in 2009, although given a degree of political stability, it should continue to grow well, reaching US$1.4 billion by 2016.
Around 89% of the medical device market is supplied by imports. Leading supplier countries in 2008 included the USA, Germany, Japan and China. Relatively little is imported from other former Soviet countries. Ukraine has some production capacity, but firms are generally under-capitalised and unable to compete with imports.
Includes 3 quarterly updated outlook reports!
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