Business Monitor International


Venezuela Medical Devices Report

Published 23 April 2014

  • 151 pages
 
$1,295.00
Venezuela Medical Devices Report

Espicom Industry View: The Venezuel an medical device market is hyper-inflated, ranking fifth in the Americas region . It is projected to register a low 2013-2018 CAGR due to maxi-devaluations of the bolívar, which should bring down p er capita consumption to a more comparable regional level . The market is reliant on tightly controlled imports, whose recent negative performance indicates that previous annual levels are unlikely to be maintained. In spite of the development of Barrio Adentro, the health system remains under-funded. Niche opportunities exist but, overall, the operating environment is expected to remain very precarious for foreign multinationals in the country due to political risks and economic imbalances.

Headline Industry Forecasts

  • The medical device market is the fifth largest in the Americas region, and the third largest in the Latin American region. Market value fell to an estimated US$1.4bn in 2013, due to the devaluation of the bolívar. The market is heavily concentrated in Caracas and other major urban areas, and it is projected to rise by a low 2013-2018 CAGR of 1.7% due to maxi-devaluations of the bolívar. Historical growth has been volatile but much higher, with a 2008-2013 CAGR of 9.2%, due to the implementation of Barrio Adentro. Per capita spending, at US$48 in 2013, has leapfrogged above richer Latin American countries, ranking first.

  • Medical device imports are tightly controlled but have increased considerably in recent years, representing over 90% of the market. In US dollar terms, the latest monthly trade data show that imports fell by 10.0% to US$1.5bn in the 12 months to October 2012, which indicates that previous annual import levels are unlikely to be maintained. Except consumables, all product areas recorded negative growth.

  • Medical device exports are negligible compared to the market size. In US dollar terms, the latest monthly trade data show that exports fell by 68.1% in the 12 months to October...

Table of Contents

Espicom Industry View
7
SWOT
10
Medical Device Market
10
Political
12
Economic
13
Business Environment
14
Industry Forecast
15
Medical Device Market Forecast
15
Past Performance 2008-2013
15
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)
22
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total)
25
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$mn, % Change)
28
Consumables Market Forecast
31
Table: Consumables Market, 2008-2018 (US$mn)
32
Table: Consumables Market, 2008-2018 (US$ Per Capita)
33
Table: Consumables Market, 2009-2018 (US$mn % Change)
33
Diagnostic Imaging Market Forecast
36
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
37
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)
38
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
39
Dental Products Market Forecast
41
Table: Dental Products Market, 2008-2018 (US$mn)
42
Table: Dental Products Market, 2008-2018 (US$ Per Capita)
43
Table: Dental Products Market, 2009-2018 (US$mn % Change)
44
Orthopaedics & Prosthetics Market Forecast
46
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
47
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)
48
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
48
Patient Aids Market Forecast
50
Table: Patient Aids Market, 2008-2018 (US$mn)
51
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)
51
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
52
Other Medical Devices Market Forecast
54
Table: Other Medical Devices Market, 2008-2018 (US$mn)
55
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)
56
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
56
Annual Medical Device Imports
59
Table: Medical Device Imports By Product Area, 2008-2011 (US$000s)
63
Table: Medical Device Imports By Product Area, 2009-2011 (US$000s, % Change)
64
Table: Medical Device Imports By Product Area, 2008-2011 (Local Currency 000s)
65
Table: Medical Device Imports By Product Area, 2009-2011 (Local Currency 000s, % Change)
66
Table: Medical Device Imports By Product Area, 2008-2011 (% Distribution)
67
Table: Leading Medical Device Suppliers By Product Area, 2011 (US$000s)
69
Table: Leading Medical Device Suppliers By Product Area, 2011 (% Distribution)
70
Table: Top 20 Medical Device Suppliers, 2011 (US$000s)
72
Table: Detailed Medical Device Imports By Product Area, 2008-2011 (US$000s)
73
Table: Detailed Medical Device Import Trends By Product Area, 2011
76
Table: Detailed Leading Medical Device Suppliers By Product Area, 2011 (US$000s)
79
Monthly Medical Device Imports
82
Table: Monthly Medical Device Imports By Product Area, February 2010 - October 2012 (US$mn)
83
Annual Medical Device Exports
84
Table: Medical Device Exports By Product Area, 2008-2011 (US$000s)
87
Table: Medical Device Exports By Product Area, 2009-2011 (US$000s, % Change)
88
Table: Medical Device Exports By Product Area, 2008-2011 (Local Currency 000s)
89
Table: Medical Device Exports By Product Area, 2009-2011 (Local Currency 000s, % Change)
90
Table: Medical Device Exports By Product Area, 2008-2011 (% Distribution)
92
Table: Leading Medical Device Destinations By Product Area, 2011 (US$000s)
94
Table: Leading Medical Device Destinations By Product Area, 2011 (% Distribution)
95
Table: Top 20 Medical Device Destinations, 2011 (US$000s)
97
Table: Detailed Medical Device Exports By Product Area, 2008-2011 (US$000s)
98
Table: Detailed Medical Device Export Trends By Product Area, 2011
101
Table: Detailed Leading Medical Device Destinations By Product Area, 2011 (US$000s)
104
Table: Detailed Medical Device Balance Of Trade, 2008-2011 (US$000s)
106
Monthly Medical Device Exports
109
Table: Monthly Medical Device Exports By Product Area, February 2010 - October 2012 (US$mn)
109
Macroeconomic Forecasts
111
Economic Analysis
111
Table: Venezuela - Economic Activity
116
Industry Risk Reward Ratings
117
Table: Americas Medical Device Risk/Reward Ratings, Q214
118
Market Overview
119
Medical Device Market Overview
119
Overview
119
Table: Medical Device Market, Key Ratios, 2013
120
The Market In 2013
120
Table: Medical Device Market By Product Area, 2013
120
Healthcare Overview
121
Health Status
121
Healthcare System
122
Public Healthcare Providers
123
Private Healthcare Providers
125
Healthcare Funding
126
Healthcare Resources
126
Healthcare Activity
129
Healthcare Personnel
130
Key Healthcare Data
131
Table: Key Healthcare Data, 2008-2013
131
Industry Trends And Developments
133
Industry Trends & Developments
133
Regulatory Development
135
Medical Device Regulations
135
Competent Authority
135
Regulations
135
Medical Device Pricing & Reimbursement
137
Competitive Landscape
139
Domestic Medical Device Manufacturing
139
National Medical Device Manufacturers
139
Multinational Medical Device Manufacturers
141
Multinational Market Activity
142
Table: Multinational Market Activity, 2014
142
Medical Device Market Access
143
Market Environment
143
Distribution
143
Trade Agreements
143
Trade Associations
145
Table: Members Of ASODILAB, 2013
145
Table: Members Of AVEDEM, 2012
146
Trade Shows
152
Methodology
153
Table: Used HS Trade Codes, 2013
154
Table: Rearranged HS Trade Codes, 2013
156

The Venezuela Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a Business Monitor International (BMI) company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.

Detailed product breakdown for market, trade and production data in Venezuela provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Venezuela Medical Devices industry.

Key Benefits

  • Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Venezuela, 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 Venezuela.
  • Target Business Opportunities in the Venezuela Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Venezuela.
  • Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.

Coverage

BMI Industry View
Provides industry, political and economic views. Briefly analyses the Medical Devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.

SWOT
SWOT analyses of the Medical Devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts
Evaluates and analyses the Medical Devices market in terms of historical and forecast trends, covering six product areas and 40+ specific product categories. In addition, presents annual and monthly import and export trade data.

Product Areas:

  • Consumables: medical dressings, suturing materials, syringes, needles & catheters, blood-grouping reagents, first-aid boxes & kits, ostomy products and surgical gloves.
  • Diagnostic Imaging: electrocardiographs, ultrasound, MRI, scintigraphic apparatus, other electrodiagnostic apparatus (i.e. patient monitors), CT scanners, other X-ray apparatus, ABC ray apparatus, contrast media, X-ray film, X-ray tubes and other imaging parts & accessories.
  • Dental Products: dental drills, dental chairs, dental X-ray, dental cements, dental instruments and teeth & other fittings.
  • Orthopaedics & Prosthetics: fixation devices, artificial joints and other artificial body parts.
  • Patient Aids: hearing aids, pacemakers, other portable aids (i.e. stents), mechano-therapy apparatus and therapeutic respiration apparatus.
  • Other Medical Devices: wheelchairs, ophthalmic instruments, hospital furniture, medical/surgical sterilisers, UV/IF apparatus, blood pressure monitors, endoscopy monitors, dialysis apparatus, transfusion apparatus and anaesthesia apparatus.

Macroeconomic Forecasts
Presents macroeconomic forecasts impacting the Medical Devices market.

Industry Risk Rewards Rankings
Industry Risk Rewards Rankings (IRRR) tool, which provides a globally comparative and numerically based assessment of the Medical Devices market’s attractiveness.

Market Overview
Assesses the Medical Devices market in the current year. Additionally, covers healthcare intelligence affecting the market, including healthcare organisation, healthcare developments and health expenditure. Includes historical healthcare data, in terms of health status, health expenditure, health infrastructure, health services and health personnel.

Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.

Regulatory Developments
Focuses on the latest regulatory developments, covering the competent authority, the latest regulations and marketing registrations. Also, reviews key pricing & reimbursement measures.

Competitive Landscape
Values historical Medical Devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.

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