BMI Industry View: We expect t he Serbi an medical device market to fall by a CAGR of 0. 6 % over the 201 4 -201 9 period, hinde red by relatively slow GDP growth. The majority of medical devices are im ported as local manufactur ers focus on disposables such as bandages and s yringes, and low-tech equipment. The government is continuing to reform the healthcare system , however . In recent years, an extensive programme of renovation has been undertaken, with the help of external financing from international organisations such as the World Bank.
Headline Industry Forecasts
In local currency terms, we expect the medical device market to grow by a projected 2014-2019 CAGR of 2.7%, which is lower than the GDP forecast for the country, but market growth will be weaker in US dollar terms due to the projected depreciation of the Serbian dinar against the dollar in 2015 and 2016. We forecast a 2014-2019 CAGR of -0.6% to take the market to USD154.4mn in 2019.
Over 90% of the medical device market is supplied by imports. In the 12 months to June 2015, imports fell by 2.8% to USD138.8mn. Due to the bleak economic outlook and the depreciation of the Serbian dinar, we believe that medical device import growth will be negative in US dollar terms throughout the remainder of the year.
In the 12 months to June 2015, exports fell by 22.2% to USD60.5mn. Due to brightening growth prospects in Serbia's main export markets, we believe that export performance will improve in 2015, although it will be weak if not negative in US dollar terms, due to the depreciation of the Serbian dinar.
Domestic production of medical equipment and devices is small and largely covers medical supplies such as bandages and syringes, as well as low-tech and small amounts of hi-tech medical equipment. Domestic medical device production is estimated to be around USD80mn.
Headline Industry Risk Reward Index
Serbia is the second least attractive market in Central & Eastern...
The Serbia 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 Serbia provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Serbia Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Serbia, 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 Serbia.
- Target Business Opportunities in the Serbia Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Serbia.
- 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.