CYPRUS - Medical Device Industry and Demographic Data

Shown below you will find some basic demographic and economic data, plus information specific to the medical device and healthcare industry.

Capital city: Nicosia

Total area: 9 000 km²

Population: 1.1 million

Currency: euro

Language: Greek, English

Structure of population:
0-14 years: 17%
15-64 years: 71%
65 years and over: 12% (2011 est.)

Life expectancy at birth:
Male: 78 years
Female: 83 years

Healthcare expenditures total (% of GDP): 6.1%

Healthcare expenditures per capita: $1705 (USD)

Expenditures on healthcare:
Government: 42%*
Private: 58%**

Number of hospitals: 95 (2006 data)

Healthcare financing: Ministry of Health allocates budgets to each hospital based on need, primarily on a historical basis adjusted for inflation. However, there are minor patient co-payments when secondary health care is provided.

Medical device industry: Cyprus is a small consumer of medical devices and its consumption accounted for about 0.08 % of the total EU consumption. The market is currently valued at about $100 million. The consumption grows at average 33 % per year. Cyprus does not have any medical device manufacturers and thus all medical devices are imported. About 90 % of medical devices are imported from EU countries including medical devices that are re-exported from EU countries to Cyprus.

* Government expenditures include all spending on healthcare passed through governmental agencies regardless of the funding source. Source: World Health Organization global health expenditure database. 2010 data.
** Private healthcare expenditures include private medical insurance, direct out-of-pocket payments by the consumer and other non-governmental sources. Source: World Health Organization global health expenditure database. 2010 data.