Key Market Indicators
Latvia's Medical Technology Density is projected to decrease to 65 units by 2028, down from 69 units in 2023. This represents an average annual decline of nearly 1%. Since 2005, the country's supply has been consistently falling by an average of 1.4% per year. As of 2023, Latvia ranked 13th, with Lithuania surpassing it at 69 units. Leading the rankings were Russia, Italy, and South Korea, occupying the second, third, and fourth positions, respectively. Meanwhile, Latvia's Medical Product Expenditure is anticipated to grow to approximately €379 million by 2028, up from €347 million in 2023. This indicates an average annual growth rate of 1.4%. Since 2000, the country's demand for medical products has surged by an average of 2.7% per year. In 2023, Latvia was positioned at 27th, with Bosnia and Herzegovina slightly ahead at €347 million. France, the United Kingdom, and Poland were the second, third, and fourth highest spenders in this category, respectively.
