BMI Industry View: We expect the Bangladeshi medical device market to achieve one of the fastest growth rates in the world, at 15% annually, to 2019. With little domestic production, the demand for imported goods continues to drive growth, and positive trade indicators confirm this view. This under-developed market has huge potential, but prospects will hinge upon maintaining political stability and economic growth.
Headline Industry Forecasts
In US dollar terms, we expect the market to expand at a 2014-2019 CAGR of 14.5%, ranging from 9.9% for other medical devices up to 18.6% for diagnostic imaging. The market is forecast to increase from USD196.3mn in 2014 to USD385.4mn in 2019. The slightly lower growth in US dollar values reflects a projected modest currency depreciation over the period.
The renewed decline in imports in the three month period ended May 2015 reflects the political deadlock in Bangladesh over the first five months of the year which had a severe impact upon the economy. However, with some degree of political stability now restored, we expect medical device imports to pick up again with almost immediate effect.
Although Bangladesh exports very little in the way of medical devices, there are positive signs that a modest domestic industry is beginning to form. Growth was recorded in every quarter of 2014 and the latest available trade data reveal that over the three month period ended May 2015, exports more than doubled.
Very little domestic manufacturing takes place in Bangladesh, and what does is almost entirely comprised of basic medical supplies. 104 people were employed in eight establishments involved in the manufacture of medical and dental instruments & supplies in Bangladesh in 2012. Gross output by the eight establishments totalled BDT215.6mn (USD2.6mn).
Headline Industry Risk/Reward Index
Bangladesh is one of the least attractive markets in the Asia Pacific (APAC) for commercialising a medical device, according to BMI's...
The Bangladesh Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Bangladesh provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Bangladesh Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Bangladesh, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Bangladesh.
- Target Business Opportunities in the Bangladesh Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Bangladesh.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.