The medical device sector is one of the biggest sectors in the healthcare industry and is driven by innovation and new technologies.
The last decade has seen an unprecedented growth in innovative and improved technologies that have, in turn, led to the development of state-of-the-art medical devices and increased growth and advancement in the healthcare industry.
With the increase in general healthcare spending in recent years, the Romanian medical device market has grown significantly. The market will, in all likelihood, remain heavily reliant on imports as the domestic industry mainly produces out-dated equipment that can only compete with foreign products on price rather than quality.
According to publicly available information, the Romanian medical device market is similar to that of the Ukraine in terms of market value and to Russia in terms of funds allocated per capita. The Romanian domestic market is also influenced by the significant growth of the private medical services market, which has been one of the fastest developing markets in Romania in recent years.
In 2016, the estimated value of Romania's medical device market was EU 400 million and this is forecast to increase over the coming years.