BMI View: T he Czech medica l device market will grow moderately over the forecast period, but register high er growth in US dollar terms due to local currency app reciation. Good economic growth and rising health expenditure will support market expansion. 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 maintain our forecast that the market will expand by a 2015-2020 CAGR of 4.0% in local currency terms, which will take expenditure to CZK43.7bn in 2020. Market growth in US dollar terms will be higher at a 2015-2020 CAGR of 8.0%, which should see it increase to USD2.0bn in 2020.
With the economy well placed to grow at a robust pace in the years ahead and the Czech koruna appreciating against the US dollar, we expect medical device import performance to improve in US dollar terms in 2017. In the 12 months to August 2016, imports rose by 4.2% to USD1.1bn.
Although the export sector faces headwinds in the quarters ahead on the back of the UK's decision to leave the EU, we forecast growth in the Czech Republic's external sector to remain steady and export oriented manufacturers to benefit from stronger demand in 2017. In the 12 months to August 2016, exports rose by 8.9% to USD1.2 bn.
We forecast health expenditure to increase by a 2015-2020 CAGR of 4.7% in local currency terms and by 8.7% in US dollar terms, from CZK312.5bn (USD12.0bn) in 2015 to CZK394.0bn (USD18.2bn) in 2020, which will support market growth. Over our extended 10-year forecast period, we project that health expenditure will increase by a local currency CAGR of 5.2% and a US dollar CAGR of 7.2%, reaching CZK520.7bn (USD24.0bn) in 2025.
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.