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Latvia Medical Devices Report Q1 2017, Business Monitor International

  • November 2016
  • -
  • Business Monitor International
  • -
  • 125 pages

Includes 3 FREE quarterly updates


BMI View:

We expect the medical device market to exhibit low growth over the 2015-2020 period, with currency weakness affecting US dollar values. Domestic production has traditionally been geared towards satisfying the local market and exporting to other former Soviet countries, but as Russian demand continues to fall away we expect to see an increase in Latvian trade with fellow EU member states.

Latest Updates And Key Forecasts



- We have revised our market forecast downwards to a 2015-2020 euro CAGR of 3.7%, which reflects the anticipated modest economic growth over the forecast period. In US dollar terms, the 2015-2020 CAGR will be lower at 1.5%, due to the weakness of the euro. The value of the market will rise to USD129.7mn by 2020.

- Despite signs of economic recovery in Latvia, we believe that imports will remain subdued into 2017, reflecting healthcare expenditure constraints, reduced buying power due to the weak euro and the country’s deteriorating demographic profile. Imports fell by 10.2% y-o-y in H116 and by 14.1% to USD113.5mn during the twelve months to June 2016.

Table Of Contents

Latvia Medical Devices Report Q1 2017, Business Monitor International
BMI Industry View 9
Table: Projected Medical Device Market, 2015-2020 9
Latest Updates And Key Forecasts 9
SWOT 10
Medical Device Market 10
Industry Forecast 11
Medical Device Market Forecast 11
Latest Updates 11
Structural Trends 13
Table: Detailed Medical Device Market By Product Area, 2010-2020 (USDmn) 14
Consumables Market Forecast 18
Latest Updates 18
Structural Trends 20
Bandages and Dressings 20
Suturing Materials 21
Syringes, Needles and Catheters 21
Other Consumables 21
Table: Consumables Market, 2010-2020 (USDmn) 22
Table: Consumables Market, 2011-2020 (USDmn % Change) 23
Diagnostic Imaging Market Forecast 24
Latest Updates 24
Structural Trends 26
Electrodiagnostic Apparatus 26
Radiation Apparatus 27
Imaging Parts and Accessories 27
Table: Diagnostic Imaging Market, 2010-2020 (USDmn) 28
Table: Diagnostic Imaging Market 2011-2020, (USDmn % Change) 29
Dental Products Market Forecast 30
Latest Updates 30
Structural Trends 32
Capital Equipment 32
Instruments and Supplies 32
Table: Dental Products Market, 2010-2020 (USDmn) 33
Table: Dental Products Market, 2011-2020 (USDmn % Change) 34
Orthopaedics and Prosthetics Market Forecast 35
Latest Updates 35
Structural Trends 37
Fixation Devices 37
Artificial Joints 37
Other Artificial Body Parts 37
Table: Orthopaedics and Prosthetics Market, 2010-2020 (USDmn) 38
Table: Orthopaedics and Prosthetics Market, 2011-2020 (USDmn % Change) 38
Patient Aids Market Forecast 39
Latest Updates 39
Structural Trends 41
Portable Aids 41
Therapeutic Appliances 41
Table: Patient Aids Market, 2010-2020 (USDmn) 42
Table: Patient Aids Market, 2011-2020 (USDmn % Change) 43
Other Medical Devices Market Forecast 44
Latest Updates 44
Structural Trends 45
Table: Other Medical Devices Market, 2010-2020 (USDmn) 46
Table: Other Medical Devices Market, 2011-2020 (USDmn % Change) 47
Annual Medical Device Imports 49
Table: Medical Device Imports By Product Area, 2011-2015 (USD000s) 52
Table: Medical Device Imports By Product Area, 2011-2015 (Local Currency 000s) 53
Table: Top 20 Medical Device Suppliers, 2015 (USD000s) 55
Table: Detailed Medical Device Imports By Product Area, 2011-2015 (USD000s) 56
Table: Detailed Medical Device Import Trends By Product Area, 2015 60
Table: Detailed Leading Medical Device Suppliers By Product Area, 2015 (USD000s) 63
Monthly Medical Device Imports 67
Table: Monthly Medical Device Imports By Product Area, Year Ending June 2016 (USDmn) 67
Annual Medical Device Exports 68
Table: Medical Device Exports By Product Area, 2011-2015 (USD000s) 71
Table: Medical Device Exports By Product Area, 2011-2015 (Local Currency 000s) 72
Table: Top 20 Medical Device Destinations, 2015 (USD000s) 74
Table: Detailed Medical Device Exports By Product Area, 2011-2015 (USD000s) 75
Table: Detailed Medical Device Export Trends By Product Area, 2015 78
Table: Detailed Leading Medical Device Destinations By Product Area, 2015 (USD000s) 82
Table: Detailed Medical Device Balance Of Trade, 2011-2015 (USD000s) 85
Monthly Medical Device Exports 89
Table: Monthly Medical Device Exports By Product Area, Year Ending June 2016 (USDmn) 89
Industry Risk/Reward Index 90
Table: CEE Medical Device Risk/Reward Index, Q117 91
Market Overview 92
Medical Device Market Overview 92
Table: Medical Device Market, Key Ratios, 2015 92
Table: Medical Device Market By Product Area, 2015 93
Healthcare Overview 93
Health Status 93
Healthcare System 95
Private Healthcare Providers 95
Healthcare Funding 96
Healthcare Resources 97
Table: Medical Device Technology By Type And Sector, 2010 (Units) 97
Healthcare Activity 98
Healthcare Personnel 98
Key Healthcare Data 99
Table: Key Healthcare Data, 2010-2015 99
Industry Trends And Developments 101
Regulatory Development 106
Medical Device Regulations 106
Competent Authority 106
Regulations 106
Registration 106
EU Medical Device Regulations 107
Designated Authorities 107
Existing AIMDD/MDD/IVDMDD Regulations 107
New MDR Regulations 109
MEDDEV 2 7 1 Rev 4 110
Industry Response 111
Changes Impacting Notified Bodies 111
Medical Device Pricing and Reimbursement 112
Competitive Landscape 113
Domestic Medical Device Production 113
National Medical Device Manufacturers 114
Elvika 114
Mediteks 114
Tonus Elast 114
Multinational Market Activity 115
Johnson and Johnson 115
Philips Healthcare 115
Siemens Healthineers 116
Smith and Nephew 116
Medical Device Market Access 117
Market Environment 117
Distribution 117
Trade Shows 117
Methodology 118
Forecast Methodology 118
Trade Code Classifications 118
Table: Rearranged HS Trade Codes 119
Risk/Reward Index Methodology 122
Table: Medical Devices Risk/Reward Index Indicators 123
Sources 124
Contact 125

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