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: 0.8 million

Currency: euro

Language: Greek, English

Structure of population:  
0-14 years: 19.1%
15-64 years: 68.5%
65 years and over: 12.4% (2009 est.)

Healthcare expenditure: $3 061 (at int. $ rate, 2007 data)

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.