Boston, MA -- (SBWIRE) -- 09/19/2013 -- OVERVIEW OF THE MEDICAL MARKET IN HUNGARY
In 2010, the government fell out with the IMF over plans to cut the budget deficit through a tax on banks, rather than conventional austerity measures. Further tax increases, which were partly directed at the banks, hindered negotiations with the IMF over a Flexible Credit Line agreement and in January 2013 the IMF refused to issue the loan. However, Hungary raised US$3.25bn in February 2013 in its return to the international bond market.

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.

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Around 81% of the medical device market is supplied by imports. Most are sourced from the European Union, principally the Netherlands and Germany. There is a sizeable domestic production sector, with Xray apparatus as a particular specialty, but this is largely geared towards export markets.

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