BMI View : We expect the Czech medical device market to increase by 8.0% in US dollar terms in 2016, up from 6.3% in 2015. The Czech Republic will repres e nt the fastest growing market in Central and Eastern Europe (CEE) over the 201 4 -201 9 period, assisted by a relatively strong economy and the appreciating koruna . The Czech Republic is heavily reliant on imported medical devices , although domestically manufactured products are of an increasingly good quality and remain competitive in terms of price.
|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 4.6% in local currency terms, but market growth will be stronger in US dollar terms due to the projected appreciation of the Czech Koruna against the dollar over the forecast period. We expect the market to increase from USD1,407.0mn in 2014 to USD1,948.0mn in 2019.
Due to the reasonably strong economic outlook and the projected appreciation of the Czech koruna over the next few years, we believe that medical device import performance will strengthen in US dollar terms in 2016. In the 12 months to February 2016, imports fell by 0.4% to USD1.1bn.
We believe that medical device export growth rates in US dollar terms will improve in 2016 as external demand strengthens, particularly as eurozone recovery is being led by Germany, the Czech Republic's largest export market. In the 12 months to February 2016, exports fell by 0.6% to USD1.1bn.
In May 2016, Prime Minister Bohuslav Sobotka announced that his party will propose a 10% pay rise for doctors and nurses, in order to avert a crisis in the health sector. Health Minister Svatopluk Nemecek later stressed that the government would also need to provide hospitals with further funding for development. He is in favour of substantially increasing monthly health insurance payments, which would bring almost CZK10bn (USD404.4mn) to the healthcare sector. We view this as a step in the right direction to creating a more sustainable system.
The Czech Republic 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 Czech Republic provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Czech Republic Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Czech Republic, 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 Czech Republic.
- Target Business Opportunities in the Czech Republic Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Czech Republic.
- 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.