Fast Market Research recommends "CIVETS Medical Device Market Reports" from Espicom Business Intelligence, now available
Boston, MA -- (SBWIRE) -- 09/13/2013 -- The CIVETS markets are geographically diverse but in common offer medical device and equipment manufacturers strong reliance on imports and rapid growth rates. At a time when established first-world markets are experiencing growth of 0-3% and with long-term issues around reducing sovereign debt, CIVETS such as Turkey and Indonesia are offering medical market growth rates of 7.4% and 14.5% respectively in the medium-term, albeit from a lower value base.
Of course, the political and health infrastructure in many of these markets is less stable and developed, and that is why this new report from Espicom is the perfect detailed briefing of significant long-term opportunities in these countries.
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Understand fully the prospects and operating environment in these key emerging markets with this excellent report service
Driven by patient population
All markets, including health, are per capita driven. But simple per capita considerations are not sufficient to appreciate the changing health profile of a country and the demand for health services/infrastructure. Understanding these dynamics will identify the potential for suppliers of medical devices, equipment and supplies and their related support
A key aspect which links CIVETS is a growing population that is young, technologically sophisticated and consumer orientated. The median age in the 6 CIVETS markets is 27; in Egypt it is just 24. By comparison, the median ages in the US and UK are 37 and 40, respectively. This profile of large numbers of economically active individuals, along with development of diverse economic activity, often related to mineral wealth, is driving GDP up and hence the improvement in social and health provision.
65+ population group to rise slowly
At the same time, for the medium term, the number of elderly (65+) as a % of the population will rise relatively slowly - this group places the largest demand on health services and hence its impact on health spending is significant. Compare the following stats for an example:
% of population aged over 65 by 2016
While varying widely within the CIVETS group, it is fair to say that the infrastructure and provision of health services in all CIVETS has some way to go before reaching first-world standards. Beyond mostly city based hi-tech health facilities lies much unmet clinical need in poorly provided rural areas, with only the most basic support services available. A further issue to consider is the role played by aid in the development of health services.
Sales success in CIVETS, therefore, requires the detailed understanding and appraisal that can be found in this comprehensive report service
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