Business Monitor International


Bangladesh Medical Devices Report

Published 17 February 2014

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Bangladesh Medical Devices Report

Espicom Industry View: Bangladesh represents a small medical device market of just under US$150mn, similar in size to Latvia or Serbia. Market size is where the similarity ends , however, as Bangladeshi level of per capita spending is one of the world's worst, at just US$0.9 per capita. The market is almost exclusively supplied by imports.

Headline Industry Forecasts

  • In 2013, the Bangladeshi medical device market is estimated at US$145.8mn, equal to just US$0.9 per capita. The market is projected to expand at a CAGR of 11.7%, which should see it reach a total value of US$253.9mn by 2018.

  • Bangladeshi medical device imports have shown wild fluctuations in recent years; growing by 48.0% in 2008 and 35.0% in 2010, but falling by 9.3% in 2009 and most recently, by 18.4% in 2012. The fall in demand in 2012, saw imports decrease to US$105.3mn.

  • In the absence of any significant medical equipment industry, export totals tend to be very small. In 2012, exports were valued at US$2.8mn. Consequently, Bangladesh runs a negative balance of trade in medical devices - in excess of US$100mn in 2012.

  • Very little domestic manufacturing takes place in Bangladesh, and what does is almost entirely comprised of basic medical supplies.

Headline Industry Risk/Reward Rating

  • Bangladesh is one of the least attractive markets in the Asia Pacific for commercialising a medical device, according to BMI Espicom's Medical Device Risk/Reward Ratings (RRRs). The country's overall score for Q214 is 31.1 out of 100, ranking it last of the 16 key markets covered in the Asia Pacific region.

Headline Healthcare Overview

  • Bangladesh is the world's eighth most populous country and population density is also among the highest. Vital statistics are generally poor, but fast improving (e.g. infant mortality has fallen from 41.3 per thousand live births in 2008 to 31.3 in 2013. - nevertheless, still a rate significantly higher than commonly found in developed countries.

  • Bangladesh is...

Table of Contents

Espicom Industry View
7
SWOT
9
Medical Device Market
9
Political
10
Economic
11
Business Environment
12
Industry Forecast
13
Medical Device Market Forecast
13
Table: Projected Medical Device Market, 2013-2018
15
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
16
Table: Detailed Medical Device Market By Product Area (US$ Per Capita), 2008-2018
20
Table: Detailed Medical Device Market By Product Area (% of Total)
21
Table: Detailed Medical Device Market By Product Area (US$, % Change)
24
Consumables Market Forecast
29
Table: Consumables Market, 2008-2018 (US$mn)
30
Table: Consumables Market, 2008-2018 (US$ Per Capita)
31
Table: Consumables Market, 2009-2018 (US$mn % Change)
32
Diagnostic Imaging Market Forecast
34
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
35
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
36
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
37
Dental Products Market Forecast
39
Table: Dental Products Market, 2008-2018 (US$mn)
40
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
40
Table: Dental Products Market, 2009-2019 (US$mn % Change)
41
Orthopaedic & Prosthetics Market Forecast
43
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
44
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
44
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
45
Patient Aids Market Forecast
46
Table: Patient Aids Market, 2008-2018 (US$mn)
47
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
47
Table: Patient Aids Market, 2009-2019 (US$mn % Change)
48
Other Medical Devices Market Forecast
50
Table: Other Medical Devices Market (US$mn)
51
Table: Other Medical Devices Market (US$ Per Capita)
52
Table: Other Medical Devices Market (US$mn % Change)
53
Annual Medical Device Imports
56
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)
59
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)
60
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)
61
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)
62
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)
64
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
66
Table: Leading Medical Device Suppliers By Product Area (% Distribution)
67
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)
69
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)
70
Table: Detailed Medical Device Import Trends By Product Area
73
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
76
Monthly Medical Device Imports
79
Table: Monthly Medical Device Imports By Product Area, March 2011-September 2013 (US$mn)
80
Annual Medical Device Exports
82
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)
84
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)
85
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)
86
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)
87
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)
89
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
91
Table: Top 20 Medical Device Destinations, 2012 (US$000s)
93
Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s)
94
Table: Detailed Medical Device Export Trends By Product Area
96
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
98
Table: Detailed Medical Device Balance Of Trade, 2008-2012 (US$000s)
100
Monthly Medical Device Exports
103
Table: Monthly Medical Device Exports By Product Area, March 2011-September 2013 (US$mn)
103
Macroeconomic Forecasts
105
Economic Analysis
105
Table: Bangladesh - Economic Activity
110
Industry Risk Reward Ratings
111
Industry Risk Reward Ratings
111
Table: Asia Pacific Medical Device Risk/Reward Ratings, Q214
112
Market Overview
113
Medical Device Market Overview
113
Table: Medical Device Market, Key Ratios 2013
113
Table: Medical Device Market By Product Area, 2013
114
Healthcare Overview
115
Health Status
115
Healthcare System
116
Healthcare Funding
117
Healthcare Resources
117
Healthcare Activity
117
Healthcare Personnel
118
Key Data
118
Table: Key Data, 2008-2013
118
Industry Trends & Developments
121
Regulatory Development
123
Medical Device Regulations
123
Competitive Landscape
124
Domestic Medical Device Production
124
National Medical Device Manufacturers
124
Multinational Medical Device Manufacturers
125
Multinational Market Activity
125
Table: Multinational Market Activity, 2014
125
Medical Device Market Access
126
Distribution
126
Trade Show
127
Methodology
128
Medical Device Market Methodology
128
Trade Code Classifications
129
Table: Used HS Trade Codes, 2014
129
Table: Rearranged HS Trade Codes, 2014
131
Risk/Reward Ratings Methodology
134
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
135
Sources
136
Contact
137

The Bangladesh Medical Devices Report features forecasts for medical devices production, imports, exports and healthcare expenditure by Espicom, a Business Monitor International company (BMI). These forecasts focus on Consumables, Diagnostic Imaging Apparatus, Dental Products, Orthopaedic and Prosthetic Devices and other medical devices.

The breakdown of domestic production, domestic manufacturing, individual trade associations and multinational activity in Bangladesh provides industry professionals, strategists, company executives, and analysts with independent forecasts and competitive intelligence on the Bangladesh medical devices industry.

Key Benefits

  • Benchmark Espicom’s Medical Devices expenditure forecasts, which take into account macroeconomic and industry-specific forecasts for Bangladesh, 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 Bangladesh.
  • Target Business Opportunities in the Bangladesh medical devices market by using our assessments and projections for disease and demographic trends, regulatory developments, tax legislation and government subsidies, investment dynamics and domestic demand in Bangladesh.
  • Assess the activities and market position of your competitors via our assessments of domestic production, imports and exports, trade associations, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Covers geographic factors, political issues, and economic concerns, together with an overview of the country’s healthcare systems, health insurance regulations and health related projects which might have an impact on the country. These are presented in conjunction with estimates of health expenditure.

Market Developments

Provides analysis on the latest regulatory developments, key forecast indicators and major corporate developments, including production growth and government investment programmes.

Medical Market Analysis

Evaluates the market’s developments over the past year, comparing it with historical trends, and provides a forecast of future performance throughout our forecast period to end-2018. The report presents forecasts on the annual imports and exports for each of these sectors along with a monthly analysis of import and export trends and developments. There is also a detailed assessment of domestic production and domestic manufacturing, with a breakdown of individual trade associations, national and multinational manufacturers.

Medical Device Market Projections cover Market (US$mn), Per Capita (US$mn), (%) of total expenditure, and (%) change, for the below medical devices:

Consumables (US$mn): bandages and dressings, suturing materials, ostomy products, syringes, needles, and catheters.

Diagnostic Imaging (US$mn): electrodiagnostic, ultrasound, MRI, patient monitoring, CT scanners, X-ray apparatus, imaging parts and accessories.

Dental Products (US$mn): dental capital equipment, dental drills, dental chairs, dental X-rays, dental instruments and supplies, dental cements, teeth and other fittings.

Orthopaedic and prosthetic products (US$mn): fixation devices, artificial joints, and other artificial body parts.

Patient Aids (US$mn): portable aids, hearing aids, pacemakers, and therapeutic appliances.

Other medical devices (US$mn): wheelchairs, ophthalmic instruments, anaesthesia apparatus, dialysis apparatus, blood pressure monitors, endoscopy monitors, and hospital furniture.

Multinational Activity

Discusses the presence of multinational companies in the country, either via sales and distribution outlets, or through manufacturing facilities. ‘Domestic Manufacturing’ delineates the presence and activities of domestic medical device companies. Key company developments are incorporated, enabling a full evaluation of recent company performance and future growth prospects.

Accessing the Market

This section contains analysis of the overall market environment, distribution (including over 1,600 qualified sales agencies and distribution leads), import duties and taxes, procurement options (such as trade fairs, various expositions and procurement bodies), together with an explanation of the regulatory environment covering registration, labelling requirements and the use of second-hand equipment.

Directory

Contains details for Healthcare organisations, Professional Bodies, and Trade Associations, along with Trade Code Classifications.

Appendix – Statistical Tables

Extensive statistical tables provide historical data and forecasts from 2007-2018, identifying trends and changes in population, principle causes of death, public health expenditure, hospital data (including beds by type, discharge data, long stay patients by type), and hospital personnel.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc