Hungary: Medical Device Market to Grow 6.2% per annum to US$971 Million by 2014 says New Report

PR Log (Press Release) – Nov 06, 2009 – Report Buyer, the online destination for business intelligence for major industry sectors, has added a market report

According to the report “The Medical Device Market: Hungary” available at http://www.reportbuyer.com/go/ESP00425 around half of the Hungarian medical device market is supplied by imports which are increasingly being sourced from Western European countries, to the detriment of Eastern European suppliers.

Figures in the 98 page report tell us that so far this year, the Hungarian market for medical equipment and supplies is estimated at US$720 million, or US$73 per capita. It is expected that the device market will continue to expand at a CAGR of 6.2% per annum, reaching US$971 million by 2014, equal to US$99 per capita.

Around 52% of the medical device market is supplied by imports. Germany, the Netherlands and Austria were the leading suppliers in 2007, accounting for around 50% of imports. Consumables and orthopaedic products were the largest import categories in 2007.
The National Health Insurance Fund Administration (NHIFA) runs the only health insurance fund in the country. It has branches at county level, to administer contracting and payments to local healthcare providers, but budgets are tightly controlled by central government. In February 2008, a new bill on health insurance was signed into law, which enabled private companies to buy shares in 22 new health funds. However, the legislation was repealed in May 2008 and the health funds are to be phased out.

In 2007, the government implemented reforms that were aimed at drawing money into the health system and improving the quality of services. However, the new fees for visits to doctors and hospital stays were abolished in March 2008, following a referendum which saw over 80% of voters oppose the fees. The referendum results led to the sacking of the Liberal Health Minister and the withdrawal of the SZDSZ from the coalition government.

The report “The Medical Device Market: Hungary” is available from Report Buyer at:
http://www.reportbuyer.com/pharma_healthcare/medical_dev ...

Report Buyer product ID: ESP00425

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