BMI Industry View: We project the Romanian medical device market to grow by a CAGR of 2.3% over the 2014-2019 period, supported by good economic growth and rising health expenditure. The scarcity of high-tech equipment, expanding private healthcare sector and acute need for renovation within hospitals keeps the demand for medical devices high. The market is expected to remain heavily reliant on imports as the domestic industry mainly produces outdated equipment that can only compete with foreign products in terms of price.
Headline Industry Forecasts
In local currency terms, we expect the medical device market to grow by a projected 2014-2019 CAGR of 5.1%, which is slightly higher than the GDP forecast for the country, but market growth will be weaker in US dollar terms due to the projected depreciation of the Romanian leu against the dollar over the next couple of years. We forecast a 2014-2019 CAGR of 2.3% to take the market to USD590.8mn in 2019.
Around 85% of the medical device market is supplied by imports. In the 12 months to June 2015, imports rose by 6.4% to USD438.2mn. We believe that medical device import growth will be weak in US dollar terms in 2015, due to the depreciation of the Romanian leu.
Romanian medical device exports have grown strongly in recent years, albeit from a very low base. In the 12 months to June 2015, exports increased by 11.0% to USD153.1mn. Due to the depreciation of the Romanian leu, we believe that medical device export growth in US dollar terms will be slow throughout 2015.
Romania produces very little in the way of medical equipment. Items manufactured locally, principally comprise basic consumables. Domestic medical device production is estimated to be around USD200mn.
Headline Industry Risk/Reward Index
Romania is the 11 th most attractive market in Central & Eastern Europe in which to commercialise a medical device, according to BMI's Medical Device Risk/Reward Index. The country's overall score for Q415...
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.