BMI Industry View: We forecast t he medical device market to grow by a CAGR of 2.3% between 201 4 and 201 9 , compared with a CAGR of 6.1% for the 2009 -201 4 period . T he small size of the market limits the scope for the purchase of more expensive items. The medical device market is largely supplied by imports, principally from Western suppliers. The trade balance has been positive since 20 13 , due to sizable export s of patien t aids and other medical devices . There is a small domestic production sector but this tends to concentrate on exports to Western Europe and former Soviet countries .
Headline Industry Forecasts
In US dollar terms, we expect the market to decline by 16.5% in 2015 to USD142.6mn, due to the weak euro, which is set to depreciate by over 20% against the US dollar in 2015. A further 2% depreciation forecast for 2016 will result in market growth of just 1.8% and the market will register stronger growth from 2017 onwards as the euro gradually appreciates. The 2014-2019 CAGR is projected at 2.3%, ranging from 0.7% for consumables to 3.4% for dental products. The market is forecast to increase from USD170.7mn in 2014 to USD191.5mn in 2019.
Medical device imports decreased by 14.2% in the 12 months up to May 2015, to USD121.1mn. All sectors showed a decline over the period, with the biggest drops seen in patient aids and diagnostic imaging, which fell by 44.7% to USD14.0mn, and by 22.4% to USD14.4mn respectively. The smallest decline was seen in other medical products, which fell by 2.6% to USD47.1mn, and remained the largest sector overall.
Medical device exports decreased by 15.7% in the 12 months to May 2015, to USD118.5mn. The only sectors to see growth were consumables and dental products, which rose by 22.3% and 7.2% to USD16.5mn and USD1.6mn. Meanwhile, exports of patient aids fell by 22.4% to USD30.1mn, other medical devices by 20.3% to USD59.3mn, diagnostic imaging by 17.6% to USD5.8mn and...
The Estonia 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 Estonia provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Estonia Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Estonia, 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 Estonia.
- Target Business Opportunities in the Estonia Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Estonia.
- 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.