Business Monitor International


Greece Medical Devices Report

Published 24 December 2014

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$1,295.00
Greece Medical Devices Report

BMI Industry View: Greece has the fif th larg est medical device market in Central and Eas tern Europe (CEE) but growth has been constrained by the economic crisis. The market is heavily reliant on imports which experienced a strong decline between 2009 and 2012 . While imports returned to growth in 2013, the latest figures suggest this may be short-lived. It is expected that the government's plans to curb expenditure will continue to affect import growth over the forecast period. Domestic manufacturers are mainly small scale operations focusing on low value, high volume disposables.

Headline Industry Forecasts

  • The medical device market is valued at US$780.6mn in 2013, equal to US$70.1 per capita and equivalent to 4.4% of total health expenditure, 0.3% of GDP and 0.2% of the world market. The market is expected to grow by a CAGR of 2.9% in US dollar terms between 2013 and 2018, reaching US$901.8mn in 2018, equal to US$81.2 per capita.

  • Medical device imports supply approximately 86% of the domestic market. Since 2009, imports have fallen dramatically, due to the severe economic downturn, with a 2008-2013 CAGR of -14.8% in US dollar terms and -13.0% in euro terms. Following a return to growth in 2013, the most recent figures indicate that this situation may be short-lived. In US dollar terms, imports grew by 7.8% in the 12 months to August 2014, reaching US$674.8mn. However, this positive figure disguises the stagnant performance during the early months of the year, with import growth registering just 0.1% in US dollar terms in H114.

  • Medical device exports recorded a 2008-2013 CAGR of 4.5% in US dollar terms and 6.7% in euro terms. This upward trend has continued into 2014, with exports growing by 35.2% in US dollar terms in H114 and by 25.4% in the 12 months to August, to total US$96.1mn. Due to a significant fall in imports in recent year, the balance of trade deficit reduced sharply from -US$1,280.3mn in 2009 to -US$588.4mn in 2013.

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Table of Contents

BMI Industry View
7
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
2008-2013 Performance
13
2013-2018 Performance
15
Table: Projected Medical Device Market, 2013-2018
16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
17
Consumables Market Forecast
20
Bandages & Dressings
21
Suturing Materials
21
Syringes, Needles & Catheters
21
Other Consumables
21
Table: Consumables Market, 2008-2018 (US$mn)
22
Table: Consumables Market, 2009-2018 (US$mn % Change)
23
Diagnostic Imaging Market Forecast
25
Electrodiagnostic Apparatus
25
Radiation Apparatus
25
Imaging Parts & Accessories
26
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
26
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
27
Dental Products Market Forecast
28
Capital Equipment
29
Instruments & Supplies
29
Table: Dental Products Market, 2008-2018 (US$mn)
30
Table: Dental Products Market, 2009-2018 (US$mn % Change)
30
Orthopaedics & Prosthetics Market Forecast
31
Fixation Devices
32
Artificial Joints
32
Other Artificial Body Parts
32
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
33
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
33
Patient Aids Market Forecast
34
Portable Aids
34
Therapeutic Appliances
35
Table: Patient Aids Market, 2008-2018 (US$mn)
35
Table: Patient Aids Market, 2008-2018 (US$mn % Change)
35
Other Medical Devices Market Forecast
37
Table: Other Medical Devices Market, 2008-2018 (US$mn)
37
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
38
Annual Medical Device Imports
39
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s)
43
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s % Change)
44
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s % Change)
46
Table: Top 20 Medical Device Suppliers, 2013 (US$000s)
48
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (US$000s)
49
Table: Detailed Medical Device Import Trends By Product Area, 2013
52
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (US$000s)
55
Monthly Medical Device Imports
58
Table: Monthly Medical Device Imports By Product Area, May 2011 - May 2014 (US$mn)
59
Annual Medical Device Exports
60
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s)
64
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s % Change)
65
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
66
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s % Change)
67
Table: Top 20 Medical Device Destinations, 2013 (US$000s)
69
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (US$000s)
70
Table: Detailed Medical Device Export Trends By Product Area, 2013
73
Table: Detailed Medical Device Destinations By Product Area, 2013 (US$000s)
76
Table: Detailed Medical Device Trade Balance, 2009-2013 (US$000s)
79
Monthly Medical Device Exports
83
Table: Monthly Medical Device Exports By Product Area, May 2011 - May 2014 (US$mn)
83
Macroeconomic Forecasts
85
Economic Analysis
85
Table: Greece - Economic Activity
89
Industry Risk Reward Ratings
90
Industry Risk Reward Ratings
90
Table: CEE Medical Device Risk/Reward Ratings, Q414
91
Market Overview
92
Medical Device Market Overview
92
Table: Medical Device Market, Key Ratios, 2013
93
Table: Medical Device Market By Product Area, 2013
94
Healthcare Overview
94
Health Status
94
Healthcare System
95
Healthcare Funding
97
Healthcare Resources
99
Table: Medical Device Technology By Type, 2009-2013
99
Healthcare Activity
100
Healthcare Personnel
101
Key Healthcare Data
101
Table: Key Healthcare Data, 2008-2013
101
Industry Trends And Developments
104
Industry Trends & Developments
104
Regulatory Development
106
Medical Device Regulations
106
EU Medical Device Regulations
106
Designated Authorities
106
Existing Regulations
107
Proposed Regulatory Changes
107
Implications For The Industry
110
Competitive Landscape
113
Domestic Medical Device Production
113
Table: Medical Device Production By Product Area, 2009-2013 (EURmn)
113
Table: Detailed Medical Device Production By Product Area, 2009-2013 (EURmn)
113
Table: Detailed Medical Device Production By Product Area, 2009-2013 (US$mn)
117
Table: Detailed Medical Device Production By Product Area, 2009-2013 (% Total)
120
Multinational Market Activity
125
Table: Multinational Market Activity, 2014
125
Medical Device Market Access
127
Market Environment
127
Trade Organisation
127
Table: Medical Device Manufacturers/Distributors Of SEIV, 2014
127
Trade Show
130
Methodology
131
Medical Device Market Methodology
131
Trade Code Classifications
132
Table: Used HS Trade Codes, 2014
132
Table: Rearranged HS Trade Codes, 2014
134
Risk/Reward Ratings Methodology
137
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
138
Sources
139
Contact
140

The Greece Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a Business Monitor International (BMI) 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 Greece provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Greece Medical Devices industry.

Key Benefits

  • Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Greece, 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 Greece.
  • Target Business Opportunities in the Greece Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Greece.
  • 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.

Coverage

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

SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts

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.

Macroeconomic Forecasts

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.

Market Overview

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.

Regulatory developments

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.

Competitive Landscape

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.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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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