BMI Industry View: We expect t he Ukraini an medical device market to grow by a CAGR of 0.9 % over the 201 4-2019 period , caused by negative import growth, poor economic performance resulting from the conflict in the eastern part of the country, and severe currency depreciation . D emand for expensive medical equipment is largely met by imports, although the domestic industry is gradually accounting for a larger share . D iagnostic imaging exports have increased by seven times since 2005, and they accounted for almost half o f total exports in 2014 .
Headline Industry Forecasts
In local currency terms, we expect the medical device market to grow by a projected 2014-2019 CAGR of 19.5%, 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 Ukrainian hryvnia against the dollar over the forecast period. We forecast a 2014-2019 CAGR of 0.9% to take the market to USD440.8mn in 2019.
Around 90% of the medical device market is supplied by imports. In the 12 months to May 2015, imports decreased by 47.4% to USD224.1mn. We anticipate import growth to remain negative throughout the remainder of 2015, due to the depreciation of the Ukrainian hryvnia and poor economic performance.
Ukraine is not a major exporter of medical equipment. In the 12 months to May 2015, exports fell by 21.4% to USD29.1mn. We believe that medical device export growth in US dollar terms will remain negative in 2015, due to the depreciation of the Ukrainian hryvnia and weaker external demand from Russia, Ukraine's major export destination.
There are around 250 companies developing and producing medical devices in Ukraine. The range of domestically manufactured medical devices remains limited, and the demand for expensive medical equipment is largely met by imports. Domestic medical device production is estimated to be around USD100mn.
Headline Industry Risk/Reward Index
The Ukraine 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 Ukraine provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Ukraine Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Ukraine, 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 Ukraine.
- Target Business Opportunities in the Ukraine Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Ukraine.
- 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.