BMI View: Estonia's medical device market will contract slightly in 2016, after which we forecast it to increase steadily y-o-y, rising t o EUR167.9mn (USD201.4mn) by 202 0 . The market is heavily reliant on imports, but its small size limits the scope for the purchase of more expensive items.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Update And Key Forecasts
We forecast the medical device market will record a 2015-2020 CAGR of 4.8% in euro terms. We anticipate a higher CAGR of 6.5% in US dollar terms, due to a stronger euro exchange rate, taking the value from USD147.1mn in 2015 to USD201.4mn in 2020.
We expect a recovery in imports in 2016 in line with an acceleration of growth in the wider economy and a more stable euro. In Q116, imports were up by 4.4% to USD28.1mn. Performance was particularly strong for other medical devices and patient aids.
We expect improved export performance as Russia and Finland emerge from recession and demand from the euro zone increases. In Q116, exports were up by 14.4% in US dollar terms to USD29.5mn.
In January 2016, the Ministry of Health began accepting applications for projects to build or refurbish health centres. The government will invest around EUR115mn (USD122.8mn) through to 2023 towards improving the country's primary healthcare services.
The Estonia 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 Estonia provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Estonia Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Estonia, 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 Estonia.
- Target Business Opportunities in the Estonia Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Estonia.
- 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.