BMI View: We expect the Bangladeshi medical device market to achieve one of the fastest growth rates in the world, at 1 2.0% annually, to 2020 . S trong GDP growth and the demand for imported goods will continue to drive growth, and positive trade indicators confirm this view. The under-developed market will remain import reliant as domestic production of medical equipment is very limited.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We have revised downwards our forecasts and now project that the market will expand by a 2015-2020 CAGR of 13.9% in local currency terms, which will take expenditure to BDT33.6bn in 2020. Market growth in US dollar terms will be lower at a 2015-2020 CAGR of 12.0%, which should see it increase to USD397.9mn in 2020.
After four quarters of y-o-y growth on the back of the relative strength of the taka, imports took a downturn in Q415 and Q116. However, during the three months to May 2016, imports increased by 30.2% y-o-y to reach USD62.0mn. Despite this promise of a potential upswing, we maintain our view that the rising tide of IS-related unrest will continue to dampen demand.
Although Bangladesh exports very little in the way of medical devices, we believe there are positive signs that a modest domestic industry is beginning to form, with growth recorded in every quarter since the start of 2014. However, in the three months to May 2016, exports decreased by 17.9% y-o-y to USD2.0mn.
Foreign aid can play a hugely important role in developing Bangladesh's healthcare sector. A new South Korean project to develop a USD130mn hospital in Dhaka will help to bolster hospital provision and boost demand for medical devices.
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.