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Recently Released Market Study: The Medical Device Market: Ukraine

New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 02/22/2013 -- 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.
Ukraine is the second largest country in Europe and the 22nd largest in the world. The population is estimated at 45.3 million in 2011. Ukraine aspires to join the EU, but membership is unrealistic for the foreseeable future. Relations with Russia remain complex; they have become more aggravated by Ukraine?s dependence on gas imports from the federation and recent price hikes.

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Ukraine experienced a severe recession in 2009, with GDP falling by 15%. The country's economic problems have been worsened by political in-fighting. An IMF bailout worth US$16.4 billion was agreed in 2008, but suspended in late 2009 by government reluctance to rein in the public deficit. In February 2010, a presidential election was held. The result was controversial and fiercely disputed, but the eventual winner was Victor Yanukovych, a former prime minister with close Russian links. He defeated the incumbent prime minister, Yulia Tymoshenko, who has been arrested on corruption charges in 2011.

Healthcare funding in Ukraine is largely through taxation. However, a system of public healthcare insurance has been under discussion since at least 1996; the government now
plans to introduce legislation in 2012 to create such a system in 2015-16. Government health expenditure is very low, even by Eastern European standards. Ukraine spends around 6.4% of GDP on healthcare, which is one of the lowest levels in Europe. Healthcare should be free for the whole population, but due to a lack of funding, patients are usually forced to make out-of-pocket payments. There is virtually no private health insurance.

In 2011, the Ukrainian market for medical equipment and supplies is estimated at US$686 million, or US$15 per capita. The market was hit sharply by falling imports in 2009, although given a degree of political stability, it should continue to grow well, reaching US$1.4 billion by 2016.

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