BMI View : The Pakistan medical device market is small for a country of its size. We expect the market to register moder ate growth in both US dollar and local currency terms, boosted by strong economic growth and the upgrading of healthcare facilities . Domestic production is limited primarily to steel surgical instruments and imports supply the majority of the market .
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We maintain our forecast that the market will expand by a 2015-2020 CAGR of 8.6% in local currency terms, which will take expenditure to PKR61.8bn in 2020. Market growth in US dollar terms will be lower at a 2015-2020 CAGR of 6.2%, which should see it increase to USD537.5mn in 2020.
With real GDP growth set to increase by over 4% in the coming years alongside minimal currency depreciation, we expect medical device import growth to remain strong in 2017. In the 12 months to May 2016, imports grew by 12.4% to USD404.2mn.
We expect exports of other medical devices, composed mainly of steel surgical instruments, to continue to grow in 2017. The performance in US dollar terms will be slightly lower than growth in local currency terms due to local currency depreciation. In the 12 months to May 2016, exports grew by 4.3% to USD327.4mn.
In September 2016, the Parliamentary Secretary for Interior and Narcotics Control, Maryam Aurangzeb, announced plans to upgrade healthcare facilities in Islamabad and supply them with the latest equipment, which will benefit medical device suppliers. The government has lifted a ban on the purchase of physical assets including equipment and has allocated a budget of PKR52.5mn (USD0.5mn) for purchases in the current financial year.
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.