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MEDICAL MARKET RESEARCH REPORTS

The Medical Device Market: Romania

Opportunities and Challenges

OVERVIEW OF THE MEDICAL MARKET IN ROMANIA

Romania is located in south-eastern Europe, bordering Hungary, Ukraine, Moldova, Bulgaria and Serbia. In 2012, the population is estimated at 21.4 million, making it one of the most populous countries in the region. Romania became an EU member state in 2007.

Healthcare funding in Romania is largely through the National Health Insurance Fund. Healthcare provision is predominantly managed by the state, although the private health sector is starting to grow. Government health expenditure is very low, even by Eastern European standards. Romania spends around 5.4% of GDP on healthcare.

Improvements to the health system continue to be supported by World Bank-sponsored projects. The ‘Health Sector Reform Project APL II’, was approved in December 2004 and will run until December 2012. It aims to improve maternity and newborn care, emergency medical care and rural primary healthcare. The total project cost is estimated at US$206.5 million. A further World Bank health project, with an estimated total cost of US$336.8 million, is currently awaiting approval.

In 2012, the Romanian market for medical equipment and supplies is estimated at US$471 million, or US$22 per capita. The market is expected to grow by a CAGR of 11.0% over the 2012-17 period. This will bring the total to around US$795 million (US$37 per capita) by 2017.

Almost 90% of the medical device market is supplied by imports. Aside from a huge contraction in imports in 2009, imports have generally risen in recent years, as the level of health spending increases and new diagnostic equipment has been purchased for hospital refurbishments.


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