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The Medical Device Market: Colombia
Management Report
Published: September 2009
Pages: 98
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 595.00 Buy Now!
Research from: Espicom
Sector: Medical Devices
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
With a population approaching 50 million, Colombia is the third largest country in Latin America, behind Brazil and Mexico. The capital, Santa Fe de Bogotá, has a population of around 7 million.
Colombia has a reputation for political instability and lawlessness in more remote areas. Drug trafficking remains a major concern but the overall picture has improved since the 1980s. Colombia remains one of South America’s poorer countries, having more in common with its Andean and Central American neighbours than the more developed Mercosur economies.
The country’s healthcare infrastructure is adequate in the larger urban areas, but in need of modernisation. The healthcare system is complex, and coverage is not yet universal. Funding is generally very low; expenditure on medical equipment is just under US$11 per person.
The medical device market is heavily reliant on imports, especially in the more high tech sectors. There is some domestic capacity for more basic items. A few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogotá. Within the capital a free trade zone has encouraged international companies to set up.
Colombia’s planned Free Trade Agreement with the US was put on hold indefinitely in 2008. President Bush pushed for a fast track decision on the agreement in April. This bypassed the normal voting timetable decided by the administration and congressional leaders. Congress, as a consequence, voted against this and to delay the decision.
Colombia’s GDP is expected to shrink from US$241.3 billion in 2008 to US$181.5 in 2009 because of budget tightening and inflation in Colombia and global economic problems. GDP should recover to just under the 2008 level by 2014 and start seeing positive growth from 2010.
Colombia has a reputation for political instability and lawlessness in more remote areas. Drug trafficking remains a major concern but the overall picture has improved since the 1980s. Colombia remains one of South America’s poorer countries, having more in common with its Andean and Central American neighbours than the more developed Mercosur economies.
The country’s healthcare infrastructure is adequate in the larger urban areas, but in need of modernisation. The healthcare system is complex, and coverage is not yet universal. Funding is generally very low; expenditure on medical equipment is just under US$11 per person.
The medical device market is heavily reliant on imports, especially in the more high tech sectors. There is some domestic capacity for more basic items. A few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogotá. Within the capital a free trade zone has encouraged international companies to set up.
Colombia’s planned Free Trade Agreement with the US was put on hold indefinitely in 2008. President Bush pushed for a fast track decision on the agreement in April. This bypassed the normal voting timetable decided by the administration and congressional leaders. Congress, as a consequence, voted against this and to delay the decision.
Colombia’s GDP is expected to shrink from US$241.3 billion in 2008 to US$181.5 in 2009 because of budget tightening and inflation in Colombia and global economic problems. GDP should recover to just under the 2008 level by 2014 and start seeing positive growth from 2010.