BMI View: T he instability o f the political environment, declining oil prices and a lack of substantial healthcare facilities will hinder market competitiveness . As there is very little do mestic production, the market will remain heavily reliant on imports . The political and economic outlook will contain import growth over the forecast period .
|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 upwards our forecasts and now project that the market will expand by a 2015-2020 CAGR of 10.8% in local currency terms, which should see it rise to IQD505.2bn in 2020. The instability of the political environment and declining oil prices will contain market growth. The market will expand by a 2015-2020 CAGR of 10.3% in US dollar terms.
The market relies heavily on imports, but we expect ongoing political instability and falling oil prices to contain import growth in the near future. Using monthly mirror trade data, imports fell by 49.6% in US dollar terms to USD30.3mn in the three months to April 2016.
We expect exports to remain weak over the forecast period, therefore the trade balance will remain negative. Using monthly mirror trade data, exports, albeit from a very small basis, increased by 1,011.3% in US dollar terms to USD1.9mn in the three months to April 2016.
Budgetary constraints and the poor state of the healthcare system will continue to weigh on market growth, with resources focused on fighting rebels, leaving the government struggling to provide essential healthcare services. In January 2016, the government cancelled its free healthcare system, instructing hospitals to collect fees from patients to cover treatment costs, blaming the war against IS and the sharp decline in oil prices for mounting deficits within the healthcare system.
The Iraq 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 Iraq provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Iraq Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Iraq, 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 Iraq.
- Target Business Opportunities in the Iraq Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Iraq.
- 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.