Fast Market Research recommends "The Medical Device Market: Portugal" from Espicom Business Intelligence, now available
Boston, MA -- (SBWIRE) -- 03/01/2013 -- Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
The medical device market in Portugal is estimated at US$887 million in 2011, with a per capita rate of US$83. This is equal to 3.3% of Portugal’s total health expenditure. The market is predicted to expand by an average of 2.1% over the next few years taking it to US$983 million by 2016.
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Imports suffered in 2009, falling by 8.7% over their total in 2008, however, latest 12 month data to March 2011 shows they have recovered, rising by 7.8% to US$781.6 million over the previous 12 month total. Exports rose by 19.5% for the 12 months to March 2011 to US$182.2 million. The largest export sector, consumables, increased by 20.6% to US$34.1 million.
In December 2010 Fitch downgraded Portugal’s credit rating to A+ due to a slower reduction in the current account deficit and a deteriorating near-term economic outlook. This was again revised downwards to BBB- by Fitch and Moody in March 2011 after the resignation of the Prime Minister, investors further doubting Portugal’s ability to repay its debts and improve growth.
The Portuguese market is largely supplied by imports from the EU, with 89.1% of total imports originating from the EU-27 in 2009. Spain, Germany, the Netherlands and France were the lead suppliers. Medical device imports totalled US$731.7 million in 2009, with consumables and patient aids being key categories.There is some domestic production of low-tech items, but little multinational manufacturing.
The government reduced the amount of fiscal debt and approved a tough austerity budget for 2011. Portugal finally agreed to an EU and IMF bailout in May 2011. The following month Jose Socrates’ Socialist party lost the election. The Centre Right Party, the PSD (Social Democrats), led by Pedro Passos Coelho, won and will continue to implement the austerity package.
Portugal is the least wealthy of the EU-15 countries, with GDP per capita of US$22,284 in 2011. Spending on medical equipment is low by EU-15 standards, although it is comparable to countries such as Greece or the more developed CEE nations such as the Czech Republic.
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