The Medical Device Market: Hungary

Around half of the Hungarian medical device market is supplied by imports which are increasingly being sourced from Western European countries, to the detriment of Eastern European suppliers. This report is ideal for executives wanting to understand the key drivers in the medical market and have access to a wealth of statistical data, including five-year market projections. In addition to the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

Includes 3 quarterly updated outlook reports!

Hungary is a landlocked country in Central Europe. It is one of the ten countries that joined the EU in May 2004. Hungary managed to reduce its budget deficit from 10.1% of GDP in 2006 to around 5% of GDP in 2008. Pressure from the IMF to keep public finances in check will keep the budget deficit at around 3% of GDP in 2009.

In 2007, the government implemented reforms that were aimed at drawing money into the health system and improving the quality of services. However, the new fees for visits to doctors and hospital stays were abolished in March 2008, following a referendum which saw over 80% of voters oppose the fees. The referendum results led to the sacking of the Liberal Health Minister and the withdrawal of the SZDSZ from the coalition government.

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. In February 2008, a new bill on health insurance was signed into law, which enabled private companies to buy shares in 22 new health funds. However, the legislation was repealed in May 2008 and the health funds are to be phased out.

In 2009, the Hungarian market for medical equipment and supplies is estimated at US$720 million, or US$73 per capita. It is expected that the device market will continue to expand at a CAGR of 6.2% per annum, reaching US$971 million by 2014, equal to US$99 per capita.

Around 52% of the medical device market is supplied by imports. Germany, the Netherlands and Austria were the leading suppliers in 2007, accounting for around 50% of imports. Consumables and orthopaedic products were the largest import categories in 2007.


Highly detailed report content

MARKET OUTLOOK
Key national data projections
Current market size
Unique 5-year market projections
Market outlook
Market structure
Including statistical data on imports and exports
Market access
Including distribution and medical device regulation
Healthcare analysis
Including demographics, healthcare system, health expenditure, healthcare infrastructure and personnel

HEALTHCARE DATA
A comprehensive tabula review of the market, including economic indicators, demographics, health expenditure, hospital and primary care data, and healthcare personnel.

DISTRIBUTORS
Details of the medical equipment distributors held in Espicom’s database at the time of publication.