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CIVETS Medical Device Market Reports
Date:9/2/2013

device market is heavily reliant on imports, especially in the more high tech sectors. There is some domestic capacity for more basic items and a few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogota, and within the capital a free trade zone has encouraged international companies to the market.

VIETNAM

In 2011, the Vietnamese market for medical equipment and supplies was estimated at US$599 million, or US$7 per capita. It is expected that the device market will continue to expand strongly at 15.2% per annum. This will take the Vietnamese market to around US$1.2 billion in 2016, although the per capita rate will remain low. According to the latest data, an estimated 61.3% of healthcare expenditure is private. An estimated 90.7% of the Vietnamese medical device market is supplied by imports, and the sector is growing rapidly. Singapore, Japan and China are the leading suppliers, accounting for 45.6% of imports in 2009. Local production is limited to basic items. The value of exports has been growing fast, as overseas companies, mainly Japanese, use the country as a manufacturing base.

TURKEY

The government has placed an emphasis on developing its healthcare system, with the goal of establishing a Universal Healthcare System by 2013 as part of its ongoing reforms for the healthcare sector. The prospects for the medical device market in Turkey remain good; buoyed by strong import growth trends, which the country relies heavily on, and the expansion of healthcare facilities coupled with rising health expenditure should see the market grow at an attractive rate of 7.4% in the 2011-2016 period. The market is currently the largest in the region, and is among the top 30 in the world.

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