BMI View: The Pakistan medical device market is small for a country of its size. We expect the market to register very low growth of 1.7% in US dollar terms in 2016 , compared with an increase of 3.7% in local currency terms, due to the depreciation of the Pakistani rupee against the US dollar . Domestic production is limited primarily to steel surgical instruments and the majority of the market is supplied by imports.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will register a 2014-2019 CAGR of 4.5% in local currency terms, which is lower than the 2009-2014 CAGR of 10.2%. In US dollar terms, the 2014-2019 CAGR will be lower at 1.9%, due to the projected depreciation of the Pakistani rupee over the forecast period. We expect the market to increase from USD356.8mn in 2014 to USD392.2mn in 2019.
With the Pakistani rupee set to depreciate further against the US dollar, we foresee weak import performance in US dollar terms in 2016, rather than a repeat of the strong import growth rates achieved in 2014. In the 12 months to August 2015, imports rose by 8.0% to USD352.7mn.
We expect the other medical devices product area, composed mainly of steel surgical instruments, to continue leading export growth in 2016. The performance in US dollar terms will be lower than local currency values due to local currency depreciation. In the 12 months to August 2015, exports rose by 1.6% to USD313.7mn.
We believe that the national health insurance programme launched in December 2015 will increase the demand for medical devices, as the system will only be able to cope with the extra demand through the addition of new facilities or the improvement of existing hospitals. Private hospitals that sign up to the programme will be offered loans to upgrade their facilities, which presents an opportunity for medical device procurement.
The Pakistan 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 Pakistan provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Pakistan Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Pakistan, 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 Pakistan.
- Target Business Opportunities in the Pakistan Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Pakistan.
- 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.