New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/25/2013 -- 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.
Despite having one of the largest economies in the Middle East, per capita spending on health is one of the lowest in the region. In 2011, total health expenditure is estimated at US$10.6 billion, equal to 4.6% of GDP. In per capita terms, spending is estimated at US$123.
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The healthcare system has been in a transitory period for some time, and this should eventually result in a more modernised, efficient system, with steady growth in the number of private sector health providers.
Egypt imported US$441.3 million worth of medical devices in 2009, rising 4.0% over the previous year and 17.7% in CAGR terms from 2005-2009. Diagnostic imaging apparatus was the largest import category accounting for 31.6% of the total in 2009.
The Egyptian market for medical equipment and supplies is one of the largest in the Middle East but per capita consumption is low by regional and world standards. The market is estimated to be worth US$561 million in 2011, equal to US$7 per capita. Espicom predicts that the market will grow by a solid 13.1% annually to reach US$970 million by 2016. In per capita terms, spending will remain low during the period, rising to just US$10 by 2016.
In February 2011, Hosni Mubarak relinquished his post as the nation's president after nearly 30-years in power, following weeks of protests in Cairo and other cities. There has since been a period of political uncertainty with the Army playing the role of an interim government. The Army has not announced any major policy changes, but is focusing on stability, and said it will oversee the process for presidential and parliamentary elections which could take place in June 2012. The Army has given some presidential powers to the current Prime Minister Kamal el-Ganzouri.
The medical device market has recovered to pre-crisis levels, based on latest monthly import data to June 2011. Imports were sharply impacted by the political instability in the weeks leading to the stepping down of long-term president Hosni Mubarak and weeks after the event the flat downward trend continued before recovering to pre-crisis levels.
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