Key Market Indicators
Cypriot Medical Product Expenditure is projected to climb to €122 million by 2028, up from €119 million in 2023. This reflects an average annual growth rate of 0.4%. Despite this modest growth, Cypriot demand for medical products has seen a significant decline over the years. Since 2000, there has been a yearly decrease of 12.6% in demand. In 2023, Cyprus ranked 32nd in global medical product expenditure, with Iceland surpassing it by reaching €119 million. The leading countries in this sector were France, the United Kingdom, and Poland, holding the 2nd, 3rd, and 4th positions respectively.
