The Hungarian medical device market will record high single-digit growth over the 2016-2021forecast period, with the market expanding at a more moderate pace in US dollar terms due to localcurrency depreciation. Hungary will remain heavily reliant on imported medical devices despite a growingdomestic industry. The rebound in economic growth, the comprehensive public hospital sector and theexpanding private sector will drive the demand for medical devices.
Latest Updates and Key Forecasts
We have revised upwards our forecast and now project that the market will expand by a 2016-2021CAGR of 6.8% in local currency terms, which will take expenditure to HUF312.9bn by 2021. Marketgrowth in US dollar terms will be lower at a 2016-2021 CAGR of 5.5%, which should see it increase toUSD1.0bn by 2021.