BMI View: We expect the Serbian medical device market to increase by 1.1% in US dollar terms in 2016, up from -21.6% in 2015, due to a smaller depreciation of the Serbian dinar against the US dollar. Economic growth will remain tepid in 2016, but recovering demand from Serbia's European trad ing partners will boost export growth. The majority of medical devices are imported as local manufacturers focus on disposables such as bandages and syringes, and low-tech equipment.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will register a 2014-2019 CAGR of 2.7% in local currency terms, but the 2014-2019 CAGR will be weaker in US dollar terms due to the projected depreciation of the Serbian dinar against the dollar. We forecast a 2014-2019 CAGR of -0.6% to take the market from USD159.1mn in 2014 to USD154.4mn in 2019.
Due to slow economic growth and the continued depreciation of the Serbian dinar, we believe that import growth will be negative in US dollar terms throughout most of 2016. In the 12 months to December 2015, imports fell by 15.4% to USD124.0mn.
Due to brightening growth prospects in Serbia's European export markets, we believe that export performance will remain positive in 2016, although growth is likely to be less rapid than that recorded in Q415, due to the nature of one-off purchases in the diagnostic imaging sector. In the 12 months to December 2015, exports rose by 3.9% to USD71.1mn.
In March 2016, Serbia joined the EU Health Programme 2014-2020, which aims to promote health, prevent disease, protect citizens from serious cross-border health threats, advocate innovation within health systems and improve access to better and safer healthcare. Serbia's participation in the programme will lead to greater investment in health system development, increased regional co-operation and a more efficient implementation of preventive measures.
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.