BMI View: We expect the Romanian medical device market to increase by 4.7% in local currency terms in 2017, which will outpace the economy. Growth will be lower in US dollar terms due to local currency depreciation. The scarcity of high-tech equipment , the expanding private healthcare sector and the acute need for renovation within hospitals keeps the demand for medical devices high. The market will remain heavily reliant on im ports .
|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 expand by a 2015-2020 CAGR of 3.4% in US dollar terms, which should see it increase to USD647.1mn in 2020. Market growth in local currency terms will be higher at a 2015-2020 CAGR of 4.5%, which will take expenditure to RON2.7bn in 2020.
Given the strong economic performance that we foresee for 2016 and the rapid increase in wages, we believe that medical device import growth will remain positive in US dollar terms in 2016, although the depreciation of the Romanian leu may temper growth rates slightly. In the 12 months to May 2015, imports rose by 12.6% to USD503.5mn.
Following the UK's decision to leave the EU, we expect economic activity in Romania's key eurozone trading partners to diminish, which will weaken external demand and result in lower export values. In the 12 months to May 2016, exports increased by 18.9% to USD183.8mn.
The construction of new hospitals in Bucharest will provide opportunities for medical device suppliers. In August 2016, it was announced that a municipal hospital will be built in the north of the capital. There are also plans to build a new burns hospital, and the authorities are looking into the possibility of opening a new regional hospital in the city. Additionally, a children's hospital and cardiovascular hospital will benefit from PPP investment.
The Romania 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 Romania provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Romania Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Romania, 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 Romania.
- Target Business Opportunities in the Romania Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Romania.
- 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.