Business Wire, Dec 01, 2009
DUBLIN — Research and Markets (http://www.researchandmarkets.com/research/fc3f1d/the_outlook_for_me)
has announced the addition of the “The
Outlook for Medical Devices in Latin America” report to their
offering.
The eight Latin American medical markets are expected to grow by a CAGR
of 4.6% between 2008 and 2013, reaching US$9.2 billion. Each country
report provides a comprehensive analysis of the medical market,
including five-year market forecasts. For each country you will receive
4 completely updated reports sent quarterly, plus a comprehensive report
sent annually.
The eight Latin American medical markets covered by Espicom Business
Intelligence represent a market of 474 million people with a GDP of
US$3.4 trillion in 2008. The region is better prepared to face global
instability than in the past but economic growth is expected to slow
down in 2009 and 2010, after a recent period of remarkable growth. The
region is now seeing all markets re-evaluate their health provision.
Levels of service in the buoyant private health sector are among the
best to be found, but the challenge is provide better levels of basic
healthcare to the mass of the population. Opportunities for
manufacturers of medical equipment and supplies do exist, but it is
knowing where and how to develop them. Brazil is the largest medical
market, followed by Mexico, Argentina and Colombia. Cuba, however, has
the highest level of medical spending per capita in the region, but this
is mostly for the purposes of ‘health tourism’, not the benefit of the
local population.
With the exception of Brazil and Mexico, the medical regulatory
environment in the region is less stable that in developed markets.
These young markets have not matured yet, therefore their regulatory
systems are being consolidated. Brazil and Mexico, however, have more
complex and mature regulatory systems. MERCOSUR members tend to follow
the medical regulation established by Brazil, and there is some degree
of regulatory harmonisation among them. Andean members such as Colombia
are also modelling Brazil’s medical regulation. Mexico operates closer
to its North American allies, and follows the US’ FDA regulation.
Trade in medical devices and equipment is key to the region’s
development with all markets dependent on imports, with the exception of
Brazil, which has a strong local domestic industry. Brazil, Argentina
and Chile import more high specification medical technology products,
whilst Peru, Mexico and Venezuela import more consumables. Regional
medical exports are low, with the exception of Mexico, which represents
nearly 90% of the region’s export capabilities. Continuing strong export
growth in the country is almost entirely due to US manufacturers’
‘maquiladora’ activities. Almost all of Mexico’s medical exports are
shipped across the border to the USA. Brazil’s exports are low compared
to the size of its medical market, but exports of dental devices and
implantables have been on the rise in recent years. The deficit in the
balance of trade is negligible for the region, due to the weight of
Mexico’s exports.
These quarterly updated reports analyse the issues
The Outlook for Medical Device Markets in Latin America is published by
Espicom Business Intelligence. Each report provides an individual and
highly-detailed analysis of each market, looking at the key regulatory,
political, economic and corporate developments in the wider context of
market structure, service and access. The reports are available
individually or as a discounted collection, and prices include 4
completely updated reports sent quarterly plus a comprehensive annual
review.
These quarterly updated reports analyse the issues
The report provides an individual and highly-detailed analysis of each
market, looking at the key regulatory, political, economic and corporate
developments in the wider context of market structure, service and
access. The reports are available individually or as a discounted
collection, and prices include 4 completely updated reports sent
quarterly plus a comprehensive annual review.
Executive Summary
Highlights from the region
CHILE Chile is one the region’s better economic performers; the
country has generally avoided regional trading blocs, preferring
bilateral agreements such as the Free Trade Agreement with the USA.
Chile produces very little medical equipment, so the market is largely
supplied by imports. The USA is the dominant supplier. The European
Union supplies a further 30%, of which Germany accounts for half. The
current government is creating a more efficient public system; the AUGE
health reform plan should boost demand for medical products in the long
term
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