BMI View: The medical device market is small but per capita expenditure ranks highest in Latin America. We f orecast a high single- digit 2015-2020 CAGR in US dollar terms, fuelled by public hospital modernisation. The market will remain reliant on imports as production is limited. Chile has generally avoided regional full membership in trading blocs such as MERCOSUR or CAN, preferring bilateral agreements such as its FTA with the USA, which will continue to shape market trends.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We maintain our forecast that the market will grow at a 2015-2020 CAGR of 7.2% in local currency terms, which will take the market to CLP704.7bn by 2020. In comparison, the market will record a 2015-2020 CAGR of 9.0% in US dollar terms, which should see the value rise to USD1.2bn in 2020.
We expect the market to remain driven by imports, primarily from the USA, the European Union and China. Imports rose by 2.4% y-o-y in US dollar terms in the three months to July 2016, and by 4.8% y-o-y over the 12-month period.
We expect exports to remain low, resulting in a significant balance of trade deficit. In the three months to July 2016, exports declined by 0.3% y-o-y in US dollar terms, while they rose by 1.1% y-o-y over the 12-month period.
The 2017 health sector budget focuses on improving resources for primary healthcare, which will provide a boost to medical device firms that supply primary healthcare products.
The Chile Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's 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 Chile provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Chile Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Chile, 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 Chile.
- Target Business Opportunities in the Chile Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Chile.
- 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.
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 analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
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.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
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.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.