Business Monitor International


Iraq Medical Devices Report

Published 11 February 2014

  • 139 pages
 
$1,295.00
Iraq Medical Devices Report

Espicom Industry View: The medical device market is expected to experience robust growth over the forecast period, led by growth of consumables, diagnostic imaging and orthopaedics & prosthetics. However, the instability of the political environment could have a negative effect on market growth. As there is very little domestic production, the market is heavily reliant on imports, which have experienced strong growth in recent years, while the level of exports is very l ow .

Headline Industry Forecasts

  • The medical device market was valued at US$294.8mn in 2013, equal to US$9 per capita. The market has experienced robust growth in recent years and this is set to continue. BMI Espicom had anticipated a relatively high 2013-2018 CAGR of 11.1% in US dollar terms and 11.3% in local currency, with the market reaching US$499.9mn in 2018, equal to US$13 per capita . However, this CAGR needs to be revised, as annual cumulative import levels increased to unprecedented levels by September 2013.

  • The medical device market is heavily reliant on imports. Medical import growth was strong between 2007 and 2012, increasing by a CAGR of 20.4% in local currency terms and 22.2% in US dollar terms. The running annual total reached US$362.8mn in the 12 months up to September 2013, representing y-on-y growth of 37.6%.

  • Medical device exports are very low. Exports grew by a high CAGR of 39.7% in local currency terms and 41.8% in US dollar terms between 2007 and 2012. The running annual total reached US$2.0mn in the 12 months to September 2013. The value of exports is considerably lower than the value of imports, with a balance of trade deficit of US$300.0mn in 2012.

  • Domestic medical device production is estimated to be very low, which is why the market is so heavily dependent on imports.

Headline Industry Risk/Reward Rating

  • Iraq is the ninth most attractive market in the Middle East and Africa in which to commercialise a medical device, according to BMI Espicom's...

The Iraq 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 Iraq provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Iraq Medical Devices industry.

Key Benefits

  • Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Iraq, 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 Iraq.
  • Target Business Opportunities in the Iraq Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Iraq.
  • 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 and 40+ specific product categories. In addition, presents annual and monthly import and export trade data.

Product Areas:

  • Consumables: medical dressings, suturing materials, syringes, needles & catheters, blood-grouping reagents, first-aid boxes & kits, ostomy products and surgical gloves.
  • Diagnostic Imaging: electrocardiographs, ultrasound, MRI, scintigraphic apparatus, other electrodiagnostic apparatus (i.e. patient monitors), CT scanners, other X-ray apparatus, ABC ray apparatus, contrast media, X-ray film, X-ray tubes and other imaging parts & accessories.
  • Dental Products: dental drills, dental chairs, dental X-ray, dental cements, dental instruments and teeth & other fittings.
  • Orthopaedics & Prosthetics: fixation devices, artificial joints and other artificial body parts.
  • Patient Aids: hearing aids, pacemakers, other portable aids (i.e. stents), mechano-therapy apparatus and therapeutic respiration apparatus.
  • Other Medical Devices: wheelchairs, ophthalmic instruments, hospital furniture, medical/surgical sterilisers, UV/IF apparatus, blood pressure monitors, endoscopy monitors, dialysis apparatus, transfusion apparatus and anaesthesia apparatus.

Macroeconomic Forecasts
Presents macroeconomic forecasts impacting the Medical Devices market.

Industry Risk Rewards Rankings
Industry Risk Rewards Rankings (IRRR) 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 intelligence affecting the market, including healthcare organisation, healthcare developments and health expenditure. Includes historical healthcare data, in terms of health status, health expenditure, health infrastructure, health services and health personnel.

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
Focuses on the latest regulatory developments, covering the competent authority, the latest regulations and marketing registrations. Also, reviews key pricing & reimbursement measures.

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.

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