Business Monitor International


Colombia Medical Devices Report

Published 13 March 2014

  • 166 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Colombia Medical Devices Report

Espicom Industry View: The Colombian m edical device market has benefitted from the country's increasingly political stability and GDP growth above the Latin American average in recent years. It now ranks fourth in Latin America and is projected to register one of the world's top 10 fastest 2013-2018 medical device CAGRs . Per capita medical device expenditure is low but h ealthcare and regulatory developments implemented over the last three years will provide new growth opportunities for medical device companies in the long-term. Multinationals that already have a presence in the Latin American market will have a distinct advantage over new entrants.

Headline Industry Forecasts

  • The medical device market was valued at US$1.2bn in 2013, ranking fourth in the Latin American region. It is one of the world's top 10 fastest growing medical device markets, with a projected 2013-2018 CAGR of 13.3%. The market is forecast to almost double in value in the forecast period, reaching US$2.2bn in 2018. In per capita terms, Colombia is expected to rank around 50 th in the world by the end of the forecast period with per capita spending of US$42.

  • The market is heavily reliant on medical device imports, especially in the more high tech sectors. Imports continue to rise in value in US dollar terms, although growth rates have moderated from the high rises recorded in 2010 and 2011. Imports rose by 8.9% in the 12 months to November 2013, reaching US$935.4mn. Diagnostic imaging was the fastest growing product area, followed by consumables, patient aids and orthopaedics & prosthetics. Dental products and other medical devices fell in value.

  • Medical device exports, although comparatively low in value, were posting strong growth in US dollar terms until the middle of 2012, but growth rates have since registered a sharp decline. Exports fell by 10.9% in the 12 months to November 2012, taking the running annual total to US$70.6mn. The two largest product areas,...

Table of Contents

Espicom Industry View
9
SWOT
12
Medical Device Market
12
Political
13
Economic
14
Business Environment
15
Industry Forecast
16
Medical Device Market Forecast
16
Past Performance 2008-2013
16
Future Performance 2013-2018
17
Table: Projected Medical Device Market, 2013-2018
18
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
19
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita)
23
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total)
26
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$mn, % Change)
29
Consumables Market Forecast
32
Table: Consumables Market, 2008-2018 (US$mn)
34
Table: Consumables Market, 2008-2018 (US$ Per Capita)
35
Table: Consumables Market, 2009-2018 (US$mn, % Change)
36
Diagnostic Imaging Market Forecast
38
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
39
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
40
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
41
Dental Products Market Forecast
43
Table: Dental Products Market, 2008-2018 (US$mn)
44
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
45
Table: Dental Products Market, 2009-2018 (US$mn % Change)
46
Orthopaedics & Prosthetics Market Forecast
48
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USmn)
49
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
50
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn, % Change)
50
Patient Aids Market Forecast
52
Table: Patient Aids Market, 2008-2018 (USmn)
53
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
54
Table: Patient Aids Market, 2009-2018 (US$mn, % Change)
54
Other Medical Devices Market Forecast
56
Table: Other Medical Devices Market, 2008-2018 (US$mn)
57
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)
58
Table: Other Medical Devices Market, 2009-2018 (US$mn, % Change)
59
Annual Medical Device Imports
61
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)
64
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)
65
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)
66
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)
67
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)
69
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
72
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution)
73
Table: Top 20 Medical Device Suppliers, 2012 (US$000s)
74
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)
75
Table: Detailed Medical Device Import Trends By Product Area, 2012
78
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)
81
Monthly Medical Device Imports
84
Table: Monthly Medical Device Imports By Product Area, October 2010 - November 2013 (US$mn)
85
Annual Medical Device Exports
86
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s)
89
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change)
90
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s)
91
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change)
92
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution)
94
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s)
95
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution)
96
Table: Top 20 Medical Device Destinations, 2012 (US$000s)
98
Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s)
99
Table: Detailed Medical Device Export Trends By Product Area, 2012
102
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s)
105
Table: Detailed Medical Device Balance of Trade, 2008-2012 (US$000s)
109
Monthly Medical Device Exports
112
Table: Monthly Medical Device Exports By Product Area, October 2010 - November 2013 (US$mn)
112
Macroeconomic Forecasts
114
Economic Analysis
114
Table: Colombia - Economic Activity
118
Industry Risk Reward Ratings
119
Table: Americas Medical Device Risk Reward Ratings, Q214
120
Market Overview
121
Medical Device Market Overview
121
Overview
121
Table: Medical Device Market, Key Ratios, 2013
122
The Market In 2013
122
Table: Medical Device Market By Product Area, 2013
123
Healthcare Overview
124
Health Status
124
Healthcare System
125
Healthcare Funding
126
Table: Health Insurance Coverage By Type, 2012
127
Healthcare Resources
130
Healthcare Activity
131
Healthcare Personnel
131
Key Healthcare Data
131
Table: Key Healthcare Data, 2008-2013
131
Industry Trends And Developments
134
Industry Trends & Developments
134
Regulatory Development
137
Medical Device Regulations
137
Competent Authority
137
Regulations
137
Fees
138
Table: INVIMA's Medical Device Registration Fees, 2013
139
Technical Vigilance
139
Medical Device Pricing & Reimbursement
139
Pricing
139
Health Technology Assessment
140
Competitive Landscape
141
Domestic Medical Device Production
141
Table: Medical Device Production By Product Area, 2006-2010 (COP000s)
142
Table: Medical Device Production By Product Area, 2006-2010 (US$000s)
145
Table: Medical Device Production And Sales By Product Area, 2010 (COP000s)
147
Domestic Medical Device Manufacturing
149
Table: Medical Device Producers, 2006-2010
150
Table: Medical Device Producers By Size And Type, 2010
150
Table: Medical Device Producers By Department, 2010
151
National Medical Device Manufacturers
151
Detailed Manufacturers
151
Other Listed Manufacturers
154
Multinational Medical Device Manufacturers
155
Multinational Market Activity
157
Table: Multinational Market Activity, 2014
157
Medical Device Market Access
159
Market Environment
159
Distribution
159
Trade Associations
159
Trade Shows
160
Trade Agreements
160
Methodology
161
Medical Device Market Methodology
161
Trade Code Classifications
162
Table: Used HS Trade Codes, 2014
162
Table: Rearranged HS Trade Codes, 2014
164
Risk/Reward Ratings Methodology
167
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
168
Sources
169
Contact
170

The Colombia Medical Devices Report features forecasts for medical devices production, imports, exports and healthcare expenditure by Espicom, a Business Monitor International company (BMI). These forecasts focus on Consumables, Diagnostic Imaging Apparatus, Dental Products, Orthopaedic and Prosthetic Devices and other medical devices.

The breakdown of domestic production, domestic manufacturing, individual trade associations and multinational activity in Colombia provides industry professionals, strategists, company executives, and analysts with independent forecasts and competitive intelligence on the Colombia medical devices industry.

Key Benefits

  • Benchmark Espicom’s Medical Devices expenditure forecasts, which take into account macroeconomic and industry-specific forecasts for Colombia, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Colombia.
  • Target Business Opportunities in the Colombia medical devices market by using our assessments and projections for disease and demographic trends, regulatory developments, tax legislation and government subsidies, investment dynamics and domestic demand in Colombia.
  • Assess the activities and market position of your competitors via our assessments of domestic production, imports and exports, trade associations, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View

Covers geographic factors, political issues, and economic concerns, together with an overview of the country’s healthcare systems, health insurance regulations and health related projects which might have an impact on the country. These are presented in conjunction with estimates of health expenditure.

Market Developments

Provides analysis on the latest regulatory developments, key forecast indicators and major corporate developments, including production growth and government investment programmes.

Medical Market Analysis

Evaluates the market’s developments over the past year, comparing it with historical trends, and provides a forecast of future performance throughout our forecast period to end-2018. The report presents forecasts on the annual imports and exports for each of these sectors along with a monthly analysis of import and export trends and developments. There is also a detailed assessment of domestic production and domestic manufacturing, with a breakdown of individual trade associations, national and multinational manufacturers.

Medical Device Market Projections cover Market (US$mn), Per Capita (US$mn), (%) of total expenditure, and (%) change, for the below medical devices:

Consumables (US$mn): bandages and dressings, suturing materials, ostomy products, syringes, needles, and catheters.

Diagnostic Imaging (US$mn): electrodiagnostic, ultrasound, MRI, patient monitoring, CT scanners, X-ray apparatus, imaging parts and accessories.

Dental Products (US$mn): dental capital equipment, dental drills, dental chairs, dental X-rays, dental instruments and supplies, dental cements, teeth and other fittings.

Orthopaedic and prosthetic products (US$mn): fixation devices, artificial joints, and other artificial body parts.

Patient Aids (US$mn): portable aids, hearing aids, pacemakers, and therapeutic appliances.

Other medical devices (US$mn): wheelchairs, ophthalmic instruments, anaesthesia apparatus, dialysis apparatus, blood pressure monitors, endoscopy monitors, and hospital furniture.

Multinational Activity

Discusses the presence of multinational companies in the country, either via sales and distribution outlets, or through manufacturing facilities. ‘Domestic Manufacturing’ delineates the presence and activities of domestic medical device companies. Key company developments are incorporated, enabling a full evaluation of recent company performance and future growth prospects.

Accessing the Market

This section contains analysis of the overall market environment, distribution (including over 1,600 qualified sales agencies and distribution leads), import duties and taxes, procurement options (such as trade fairs, various expositions and procurement bodies), together with an explanation of the regulatory environment covering registration, labelling requirements and the use of second-hand equipment.

Directory

Contains details for Healthcare organisations, Professional Bodies, and Trade Associations, along with Trade Code Classifications.

Appendix – Statistical Tables

Extensive statistical tables provide historical data and forecasts from 2007-2018, identifying trends and changes in population, principle causes of death, public health expenditure, hospital data (including beds by type, discharge data, long stay patients by type), and hospital personnel.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc