Espicom Industry View: The Czech medical device market is expected to grow by a CAGR of 8.4 % over the 2013-2018 period, a longside increase s in GDP, imports and health expenditure . The amount of funding within the health sector may fall, however, due to the new coalition government's decision to abolish certain healthcare fees. The Czech Republic is heavily reliant on imported medical devices , although domestically manufactured products are of an increasingly good quality and remain competitive in terms of price.
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In 2013, the Czech medical device market was estimated at US$1,402.3mn, or US$131 per capita. This market size was twice that of Ukraine; in per capita terms, the market was similar to Slovenia. The 2008-2013 CAGR was estimated at 1.0% but the market is expected to expand at a CAGR of 8.4% over the 2013-2018 period, reaching US$2,099.2mn, or US$193 per capita by 2018.
Around 81% of the medical device market is supplied by imports. The Czech Republic imported medical devices valued at US$1,134.4mn in 2013; this represented an increase of 5.7% over 2012 and a 2008-2013 CAGR of 1.1%. Imports grew every year between 2004 and 2013, except for 2010 and 2012.
The Czech Republic exported medical devices worth US$1,085.9mn in 2013, representing an increase of 10.9% over 2012 and a 2008-2013 CAGR of 5.1%. The trade deficit decreased notably from -US$94.0 in 2012 to -US$48.5mn in 2013, due to strong export growth.
The Czech Republic has a broad range of medical device manufacturers, although very few are significant in a global context. The increasing presence of foreign manufacturers in the Czech market has forced indigenous manufacturers to improve their quality in order to compete effectively. Domestic medical device production is estimated to be in excess of US$1bn.
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