NEW YORK, Aug. 31 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Many are concerned that the global economic downturn is blunting the rapid growth in the BRIC countries. Is this a time of exciting opportunity or commercial danger for medical manufacturers and how is the economic turmoil affecting each market? These reports separate fact from fiction and are essential in making sound, impartial business judgments.
These insightful reports provide:
Complete assessment of the leading emerging economies at a time of financial upheaval and challenge
Regularly updated 5-year forecasts and market valuations for each market
Detailed analysis of the health structure, funding, service and outlook for each market
Critical SWOT and assessment of the market
Published quarterly to provide the latest information
These leading emerging economies represent a total medical market of US$10.8 billion. But how might the impact of the economic downturn affect them? Where do commercial opportunities exist for medical device companies now, and what are the future prospects?
Putting things in perspective
With a combined population of 2.7 billion people and with significant unmet medical need the challenges and opportunities of BRIC markets are considerable. The economic downturn has affected these markets varyingly; for example, the Brazilian import market may be affected by disadvantageous US$ exchange rates, but China is affected more by a weak economy in the USA, its major market. Significant growth rates, up to 9.1% in China for example, are impressive, but the low starting point – along with a range of other operational issues – means companies must be targeted in the opportunities they pursue.
Opportunities do exist
There are, of course, wide regional differences in expenditure levels within the BRIC countries, far more so than in developed countries where health systems have evolved to provide a more uniform level of coverage. All four countries have a relatively wealthy urban population with a far greater spending power than their respective national average. These urban populations have grown rapidly, and number hundreds of millions. The challenge for these countries is to extend this level of wealth to the rest of the population, in order that better levels of healthcare become affordable.
A long haul
The prevailing economic woes have to be seen over the long term. This is evolution not revolution, and change will be incremental. Short-term opportunities exist in meeting the health demands of the burgeoning middle classes, and future prospects are bright, where steady growth in BRIC markets will erode commercial differences with the established markets in North America, Japan and Europe.
Current and accurate decision support information is vital
Effective planning is vital and that is why Espicom, the leading provider of medical market intelligence, has issued this report collection The Outlook for Medical Devices in Brazil, Russia, India & China 2009. For each country there is a comprehensive examination of the market for medical devices and equipment which covers all aspects of the operating environment from the regulatory situation through health provision/expenditure to domestic production. Importantly, each market evaluation includes 5 year growth forecasts and SWOT analysis. An additional benefit – and at no additional cost – is that these reports are updated and issued quarterly and include an annually updated statistical report packed with hard-to-source health market facts and figures.
SNAPSHOTS FROM THE REPORTS....
BRAZIL Brazil has the largest medical device market in the Latin American region. In 2009, the Brazilian medical market is valued at R$6.5 billion (US$2.6 billion), equivalent to around US$13 per capita. Expenditure per capita is far higher in the developed urban areas, however. The country has a well-established medical industry, comprising local and multinational companies. Imports have been fuelled by the appreciation of the local currency against the dollar and an increasing consumer demand for the latest technology. However, a higher dollar rate might contain imports in 2009. Imports tend to concentrate on high-tech medical equipment which is not produced locally due to a lack of capabilities. Around 60% of imports are supplied by Europe and the USA, whilst the remaining 40% come from Asia and the Pacific region. More opportunities exist in the private sector, although the overall economic position limits growth there.
RUSSIA In 2008, the Russian market for medical equipment and supplies was estimated at US$2,382 million. This puts the market among the top 20 in the world, although per capita spending remains very low, at around US$17. This is a similar level to that found in Romania, and is only around one quarter of the expenditure found in the major CEE countries which joined the European Union in 2004. Around 75% of the market is supplied by imports. Germany, the USA and Japan were the leading suppliers in 2006, accounting for over 50% of imports. The value of imports has generally increased over the last five years. The medical device and supplies market is expected to expand at a CAGR of 8.1%, reaching US$3,453 million, or US$25 per capita, by 2013.
INDIA The Indian market for medical equipment is valued at around US$1,908 million in 2009. Despite strong growth rates, the market remains disproportionately small, ranking among the top 20 in the world but with low per capita spending. High quality products are sought after, particularly in the private sector, and the high tech end of the medical device market is dominated by multinationals with extensive service networks. Indian manufacturers of good quality mid tech products struggle with a stigma for unreliability. Indian purchasers are, however, price-sensitive and seek value for money. Continued investment in the private sector infrastructure, coupled with increased healthcare funding from the government, should result in a steady increase in the market for medical equipment. Espicom estimates the market will grow by an average of 7.1% over the next few years, to around US$2.7 billion by 2014.
CHINA China has the world's largest population. In 2006, it was officially estimated at 1,314.5 million. The province of Henan, in south-central China, had the largest population, with 93.9 million, equal to 7.3% of the total. Eastern China was the most populated region of the country, inhabited by 376.6 million people in 2006. The area includes Shanghai, China's largest city, with a population of 18.2 million. Since opening its economy to the West in the late 1970s, China has experienced rapid growth. For 2009, China's GDP is estimated at US$4,607 billion. While this makes China one of the world's largest economies, the sheer size of the population means that per capita wealth is very low, at around US$3,450 in 2009. Healthcare provision is extremely uneven. It is best in the towns and cities; many rural areas have very little provision, following the near total decay of the Communist rural healthcare system. Even in richer areas, public funding is very low, and most care is paid for by the patient. Hospitals and clinics earn a large percentage of their income from patient payments.
KEY MEDICAL INDUSTRY STATISTICS
BRAZIL Medical Market Size US$2.56 billion
As a % of health expenditure 2.7%
Per capita spend US$13
RUSSIA Medical Market Size US$2.38 billion
As a % of health expenditure 2.8%
Per capita spend US$17
INDIA Medical Market Size US$1.9 billion
As a % of health expenditure 3.1%
Per capita spend US$2
CHINA Medical Market Size US$3.97 billion
As a % of health expenditure 2.1%
Per capita spend S$3
MEDICAL MARKET ANALYSIS
Projections & Outlook - Unique 5-year Market Projections by Major Product/Technology, SWOT Analysis, Comment & Rating
Domestic Production - Trade Association(s), Local/Multinational Manufacturers
ACCESSING THE MARKET
Distribution – including qualified sales agency and distribution leads worldwide
Medical Device Regulations
Demographics - Population, Birth Rate, Death Rate, Infant Mortality, Life Expectancy at Birth,
Public Health - Causes of Death, Incidence of Communicable Diseases,
Health Expenditure - Health Estimates for 2009, Projected Health Expenditure
Professional Bodies/Trade Associations
Trade Code Classifications Methodology & Sources
EXTENSIVE STATISTICAL TABLES
Thousands of key statistics and trends are provided in an appendix. Data is included from several years allowing trends to be identified and new changes to be seen in historical
context. The statistics cover key indicators such as:
Principal Causes of Death
Public Health Expenditure
Hospital Data: Beds by Type, Discharge Data and Average
Length of Stay Patients by Type
Healthcare Personnel: Numbers of Doctors, Nurses etc by Type
Espicom's Customised Market Service: Did you know that all of Espicom's extensive range of market, company and therapy services can be selected to create a web-based information solution which meets your needs precisely.
To order this report:Medical Devices Industry: The Market for Medical Devices in Brazil, Russia, India & China
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