BMI View: We expect t he Romanian medical device market to increase by 1.2 % in US dollar terms in 2016 , up from -15.5% in 2015, as exchange rates stabilise. 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 The market will remain heavily reliant on im ports as the domestic industry mainly produces outdated equipment that can only compete with foreign products in terms of price .
|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 that the market will register a 2014-2019 CAGR of 5.1% in local currency terms, but the 2014-2019 CAGR will be lower at 2.3%, due to the projected depreciation of the Romanian leu against the dollar over the next couple of years. We expect the market to increase from USD527.1mn in 2014 to USD590.8mn in 2019.
Given the strong economic performance that we foresee for 2016 and the rapid increase in wages, we believe that medical device import growth will strengthen in US dollar terms in 2016, although the depreciation of the Romanian leu may temper growth rates slightly. In the 12 months to January 2015, imports rose by 10.8% to USD490.0mn.
Due to the economic recovery in Romania's main eurozone trading markets, we believe that medical device export growth in US dollar terms will be positive in 2016. In the 12 months to January 2015, exports increased by 13.8% to USD172.1mn.
In March 2016, MedLife, the largest private healthcare provider in Romania, announced that it plans to invest at least EUR25mn (USD26.9mn) in new acquisitions by the end of 2017. The operator will use EUR20mn (USD21.5mn) of a EUR56mn (USD60.2mn) loan for new acquisitions, to which it will add EUR5mn (USD5.4mn) of its own funds. This will boost medical device demand in the country, as new clinics are opened.
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.