BMI View: Estonia's medical device market will increase steadily y-o-y from 2017 , rising to EUR166.9mn (USD166.9mn) by 2020 . The market is heavily reliant on imports, but its small size limits the scope for the purchase of more expensive items.
|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 slightly downwards our forecasts and now project that the market will expand by a 2015-2020 CAGR of 4.7% in local currency terms, which will take expenditure to EUR166.9mn in 2020. Market growth in US dollar terms will be lower at a 2015-2020 CAGR of 2.6%, which should see it increase to USD166.9mn in 2020.
We expect imports to stabilise and return to growth by the end of 2017. In the three months to July 2016, imports were down by 9.8% y-o-y in US dollar terms, due mainly to falls in diagnostic imaging and patient aids.
We continue to expect improved export performance as Russia and Finland emerge from recession and domestic production increases. In the three months to July 2016, exports were up by 11.5% y-o-y in US dollar terms.
Domestic production has been growing in recent years and we expect this upward trajectory to continue. Production of hearing aids has seen the largest increase, from EUR0.8mn in 2013 to EUR6.2mn in 2015. We note that Danish hearing-aid specialist, Widex, has established a production facility in Tallinn.
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.