BMI View: T he Greek medical device market will grow moderately in euro terms from 2017 . The market will remain heavily reliant on imports, as domestic manufacturers are mainly small scale operations focusing on low value, high volume disposables. The economic crisis, ongoing austerity measures , health expenditure cuts and a weak euro have contributed to a largely downward import trend since 2009 , but imports posted positive growth in euro terms in 2015.
|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 downwards our forecasts and now project that the market will increase at a 2015-2020 CAGR of 3.6% in euro terms, which will take the value to EUR728.8mn in 2020. In US dollar terms, we now project the market will increase at a 2015-2020 CAGR of 1.4%, taking the total to USD728.8mn in 2020.
Import performance will continue to reflect Greece's fragile economy. The latest monthly trade data indicate that imports rose by 7.8% y-o-y in USD terms in the three months to July 2016, but contracted by 8.3% y-o-y over the 12-month period.
Consumables will continue to dominate export performance. An increase of 32.4% in consumables imports led to a 6.1% rise overall y-o-y in USD terms in the three months to July 2016. In contrast, performance was static over the 12-month period.
Amongst the latest set of austerity measures to be implemented from the start of 2017, the government will abolish healthcare contribution exemptions and discounts for pensioners, the self-employed and other groups. These measures will intensify challenging market conditions for medical device companies.
The Greece 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 Greece provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Greece Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Greece, 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 Greece.
- Target Business Opportunities in the Greece Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Greece.
- 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.