Belgium produces less than 10 percent of its overall medical equipment. This leaves the market open for heavy competition among suppliers from the U.S., Germany, France and U.K. The U.S. has a 27 percent share of total medical equipment imports into Belgium. U.S. suppliers are particular dominant in sectors of diagnostic imaging apparatus, orthopedic and implantable products and medical and surgical instruments.
The Belgian Social Security System, which includes the Health care System, is considered among the most extensive and efficient in Europe. It covers nearly 100 percent of the population of 10.5 million inhabitants.
Sub-Sector Best Prospects
Belgium’s healthcare system is currently facing several challenges. Belgium’s growing aging population and the higher health expectations will have an important impact on healthcare expenditures in the coming years. The GOB is therefore looking at various cost-saving measures. Thus, innovative technologies and equipment offering cost savings will have a strong market potential. Orthopedic products, homecare products, obesity and diabetes products are as a consequence in high demand. Furthermore, there is a trend towards miniaturization of medical devices allowing more minimally-invasive and non-invasive procedures. Medical software, telemedicine and e-health are also sectors with a strong market potential.
Read the complete commercial guide to Doing Business in Belgium