The healthcare system and medical device market in Russia

Print 25 February 2015
PRNewswire

NEW YORK, Feb. 17, 2015 /PRNewswire/ -- This TforG report helps businesses gain a unique insight into the socio-economic dynamics in Russia until 2015, and helps analyze how they affect healthcare systems and their evolution. It can serve as an essential tool for sales, marketing, R&D and business managers with industry related interests.

The Deep Dive report for Russia includes numerical and written analysis in four main chapters: Economic Outlook (38 Key industry indicators), The Healthcare System (HC system structures), Reforms (restructuring, re-engineering or austerity efforts), and The Healthcare Market (Capital Equipment, Medical Devices, Disposables and Pharmaceuticals).

Economic Outlook:

-Long term growth will be due to the dependence on oil, the lack of sufficient investments, the absence of economic reforms and the export slow down. 
-The unemployment rate increased to 5.5 percent in 2015. 
-The labor market remains strong in spite of a weakening economic growth, however; the outlook for the coming months is negative. 
-About 17.2 million people are currently living below the poverty line. 
-Inflation decreased to 5 percent in 2014. 

The Healthcare System:

- The healthcare sector today is mainly public, but a fast growing private sector, encouraged
by the government; has become a substantial factor in the landscape.
- The Russian healthcare system is largely and increasingly centralized. Despite this fact,
there are substantial differences in the healthcare infrastructure by province or
municipality.
- Corruption and political stakeholders play an important role in healthcare. This is
especially true in the hospital sector.
- About 90 percent of the Russian population is covered by a basic healthcare insurance.

Reforms:

- National reforms improved the country's healthcare system by increasing the funding and the healthcare infrastructure.
- This plan helped upgrade hospitals and clinics with new equipment and ambulance systems. 
- New medical centers were also built.
- A growing middle class, increasing wages, decreasing poverty and decreasing unemployment have raised the pressure on the Russian government to modernize the healthcare system.

The Markets:

- The government is committed to push the renewal and modernization of the hospital infrastructure and large medical equipment base. 
- The healthcare market is expected to grow about 13.5 percent in the coming 5 years.
- There is a trend towards more centralization of decision making and the procurement process will shift more to (central) administrations. 
- Local manufacturing is limited and the market largely depends on imports especially for more sophisticated products.
 

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