Over the past decade, the turnover of Medical, Dental Instruments, and Supplies in Belgium demonstrated a trend of general growth with some fluctuations. From 2013 to 2019, the turnover consistently increased, peaking in 2019 with a value of 1910 million euros. However, there was a dip in 2020 due to the global pandemic, which caused a -9.96% year-on-year decline. Recovery was observed over the next few years, with turnovers climbing steadily again and reaching 2000 million euros in 2023. This represents a year-on-year increase of 4.74% from 2022.
Analyzing the five-year trend from 2019 to 2023, there was an average annual growth rate (CAGR) of 5.43%, highlighting a resilient market despite the pandemic stagnation in 2020. Projections for the next five years (2024-2028) suggest a CAGR of 3.17%, forecasting the turnover to reach 2440 million euros by 2028, marking a 16.86% growth over this period.
Future trends to watch for include:
- Increased digitization and the adoption of advanced medical technologies.
- Potential impacts of regulatory changes within the European Union.
- Shifts in demand driven by an aging population and evolving healthcare needs.
- Expansion of telemedicine and remote diagnostics, significantly influencing the types and volumes of instruments and supplies required.
- Potential global health crises impacting production and supply chains.
