Boston, MA -- (ReleaseWire) -- 04/08/2014 -- The medical equipment market is small, constrained by the country's small size. It is, however, one of the richest markets in the European region when viewed on a per capita basis. In 2013, the medical device market is estimated at US$314.8mn, equal to US$154.0 per capita, and equivalent to 7.3% of total health expenditure, 0.7% of GDP and 0.1% of the world market. The market is expected to grow by a 2013-2018 CAGR of 2.8% over the next five years, reaching US$360.7mn in 2018.
Slovenia is one of the smallest countries in Europe, with a population of 2.0 million in 2013. It formed the most westerly and developed part of the former Yugoslavia. The country escaped almost unscathed from the destruction seen elsewhere due to the collapse of Yugoslavia in the early 1990s. The country remains the richest of the central and eastern European states, and in many ways more closely resembles Italy or Austria than its neighbours to the east. Slovenia joined the European Union in 2004 and adopted the euro in 2007.
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Healthcare expenditure is estimated at US$4.3bn in 2013, equivalent to US$2,125 per capita and 9.1% of GDP. A total of 71.8% of health expenditure is estimated to be public. Healthcare is funded primarily through compulsory health insurance. The system was introduced in 1992 and is managed by the Health Insurance Institute of Slovenia (HIIS) (ZZZS - Zavod Za Zdravstveno Zavarovanje Slovenije). It accounts for around 75% of expenditure. The remainder is either through supplementary insurance or out of pocket. The health fund has experienced difficulties since 2008, with a range of cost-saving measures implemented or planned.
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