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  4. > Profiles of Key Eastern European Medical Device Manufacturers  : Factors Promoting Investments in Eastern Europe

Key Findings

•The East European medical device market is estimated to account for around $xxbillion in 2013. The market is expected to grow at a CAGR of xx% between 2014 and 2018.
•The medical device market of Eastern Europe is very diverse and at different stages of development. Many of the public hospitals and clinics present in this region are in need of either renovation or replacement of their old medical solution.
•Most new medical device equipment are imported, as most companies within the region are unable to fulfil the demand for more sophisticated equipment. Poland, Czech Republic and Hungary represent the three largest medical markets in the region.
•Increasing competition among the medical device manufacturers, changing regulations and policies, and varying customer outlook and demand are fuelling the need for technologies and participants offering these solutions in the Eastern European countries.
•Many opportunities are developing in Eastern Europe, especially for Western European investors to set their medical manufacturing plants to cater to the increasing demand.
•Easy access to quality workforce as well as uncomplicated registration process, in comparison with other countries, is a driving factor for manufacturers to invest in Eastern Europe.
•Emergence of private healthcare facilities, especially in Bulgaria, Romania, and Poland, has created new revenue stream for the medical device market.

Market Segmentation

- Wound Management devices comprise products and technologies involved in prevention of wound complications and promotion of wound healing. Examples include dressings, bandages, active therapies, sutures, and so on.
- Cardiac Vascular Devices consists of devices, products and technologies that help treat illness caused by myocardial oxygen supply imbalance as well as impaired cardiac function; they include pacemakers, artificial valves, and so on.
- Orthopaedic Implants comprise devices which are placed surgically into the body; these devices reinforce or replace affected structure and include bone plates, screws, and so on.
- Infection Control refers to policies, products and procedures used to minimize the risk of spreading infections, especially in hospitals and human or animal healthcare facilities.
- Infusion Therapy comprises devices and products involved in delivery of medication through a needle or catheter. It also comprises devices that help deliver medication through non-oral routes, including intramuscular injections and epidural routes.

Market Insights Aim and Deliverables

•The aim of this market insight is to analyse and profile the Eastern European medical device manufacturers, based on certain parameters.
•This research service covers the wound care, cardiac devices, orthopaedic implants, infection control and infusion therapy.
•This market insight service provides the following deliverables:
oOverview of the Eastern European medical device manufacturers
oInsight on the competitive environment
oProfiles of companies to watch

Bulgaria Overview

•The Bulgarian healthcare system is underfinanced. Hospitals face constant financial challenges, as the equipment used is obsolete, wages in the healthcare sector are very low, and corruption is widespread.
•Most of the medical products are imported from the United Kingdom and Germany and sold through local distributors. Demand for invasive and non-invasive surgery equipment, oncology, ultrasound equipment, in vitro diagnostic equipment and urology equipment is on the rise.
•Bulgaria joined the European Union (EU) in 2007 and due to this it introduced a flatxx% corporate tax rate which is one of the lowest tax within the Union.
•Added advantage resulting from this is that all import and export from and to the EU is duty free. A company manufacturing goods within Bulgaria and exporting them to another European country is completely duty free.
•Registration of a start-up company in Bulgaria is cheaper and faster than in other countries.

Table Of Contents

Profiles of Key Eastern European Medical Device Manufacturers  : Factors Promoting Investments in Eastern Europe
Executive Summary
Selection Criteria
Country Analysis
•Czech Republic
The Frost and Sullivan Story

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