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MEDICAL MARKET RESEARCH REPORTS

The Medical Device Market: Hungary

Opportunities and Challenges

OVERVIEW OF THE MEDICAL MARKET IN HUNGARY

Hungary is a landlocked country in Central Europe. It is one of the ten countries that joined the EU in May 2004, although it is not yet a Euro member. In the parliamentary elections of April 2010, the centre-right opposition party, Fidesz, won a two-thirds majority in parliament, ending eight years of socialist rule. The government promptly fell out with the IMF over plans to cut the budget deficit through a tax on banks, rather than conventional austerity measures. It has since been looking to secure a three-year, 15 billion euro financing agreement with the IMF and the EU, but negotiations are expected to be hindered by a new bundle of tax increases that were proposed in October 2012.

The National Health Insurance Fund Administration (NHIFA) runs the only health insurance fund in the country. It has branches at county level, to administer contracting and payments to local healthcare providers, but budgets are tightly controlled by central government.

In 2012, the Hungarian market for medical equipment and supplies is estimated at US$639 million, or US$64 per capita. Market growth has been moderate since 2009, and it is expected to expand at a CAGR of 7.0% per annum in the 2012-2017 period, reaching US$895 million by 2017, equal to US$90 per capita.

Around 84% of the medical device market is supplied by imports. Most are sourced from the European Union, principally the Netherlands and Germany. There is a sizeable domestic production sector, with X-ray apparatus as a particular historic specialty, but this is largely geared towards export markets.

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Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:

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Related Pages

The Medical Device Market Estonia

The Medical Device Market Latvia

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