BMI View : We expect the Croatian medical device market to increase by a CAGR of 2.7% in US dollar terms over the 2014-2019 period. The market will benefit from positive economic growth in 2015, following six consecutive years of contractions, as well as recovering demand from Croatia's main eurozone trading partners. The market will continue to remain heavily reliant on imports.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will register a 2014-2019 CAGR of 5.6% in local currency terms, which is higher than the 2009-2014 CAGR of 2.2%. In US dollar terms, the 2014-2019 CAGR will be lower at 2.7%, due to the projected depreciation of the Croatian kuna over the next three years. We expect the market to increase from USD257.5mn in 2014 to USD294.5mn in 2019.
We expect import growth to remain weak in US dollar terms in 2015, due to the depreciation of the Croatian kuna and the low level of economic growth. In the 12 months to July 2015, imports fell by 0.8% to USD229.1mn.
Due to the depreciation of the Croatian kuna, we believe that exports will post negative growth in US dollar terms in 2015. In the 12 months to July 2015, exports fell by 6.9% to USD26.0mn.
In August 2015, the MoH published the results of a health technology analysis that was carried out in order to determine where the purchase of new equipment is required, as well as where services need to be brought into line with European standards and meet the needs of patients more adequately. The results show that there are significant differences in efficiency between hospitals of the same category as well as considerable differences in effectiveness between different departments at individual hospitals.
The Croatia 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 Croatia provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Croatia Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Croatia, 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 Croatia.
- Target Business Opportunities in the Croatia Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Croatia.
- 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.