Colombia Medical Devices Report

Published 15 May 2015

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Colombia Medical Devices Report

BMI 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 the third fastest 2013-2018 CAGR in the region . Per capita medical device expenditure is low but continuing h ealthcare and regulatory developments 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 Colombian medical device market is set to register the third fastest 2013-2018 CAGR in the Latin American region, at 12.0% in US dollar terms. The market, which ranks fourth in the Latin American region, will almost double in value in the forecast period, reaching USD2.1bn by 2018.

  • Medical device imports, which the market is reliant on, will record slower growth in US dollar terms over this decade. Imports recorded a rise of 14.0% in the 12 months to December 2014, reaching USD1,076.5mn. This increase was higher than 8.2% in 2012 and 9.1% in 2013, but lower than 21.2% in 2010 and 19.9% in 2011. Apart from a contraction recorded in 2009, previous import growth between 2003 and 2008 was even higher, surpassing 20% in most years.

  • Medical device exports will remain low in US dollar terms despite currency depreciation. Exports posted an increase of 2.0% in the 12 months to December 2014, reaching USD71.6mn. Although a low rise, this was the first positive performance since 2011, as exports contracted in 2012 and 2013. Exports posted strong growth until 2009.

  • There is some domestic capacity for more basic items. In addition, a few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogota. Within the capital, a free trade zone has encouraged international...

BMI Industry View
9
SWOT
12
Medical Device Market
12
Political
14
Economic
15
Operational Risk
16
Industry Forecast
18
Medical Device Market Forecast
18
2008-2013 Performance
18
2013-2018 Performance
19
Table: Projected Medical Device Market, 2013-2018
20
Table: Detailed Medical Device Market By Product Area, 2008-2018 (USDmn)
21
Consumables Market Forecast
25
Bandages & Dressings
25
Suturing Materials
25
Syringes, Needles & Catheters
26
Other Consumables
26
Table: Consumables Market, 2008-2018 (USDmn)
27
Table: Consumables Market, 2009-2018 (USDmn % Change)
28
Diagnostic Imaging Market Forecast
29
Electrodiagnostic Apparatus
30
Radiation Apparatus
30
Imaging Parts & Accessories
30
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
31
Table: Diagnostic Imaging Market, 2009-2018 (USDmn % Change)
32
Dental Products Market Forecast
33
Capital Equipment
34
Instruments & Supplies
34
Table: Dental Products Market, 2008-2018 (USDmn)
34
Table: Dental Products Market, 2009-2018 (USDmn % Change)
35
Orthopaedics & Prosthetics Market Forecast
36
Fixation Devices
37
Artificial Joints
37
Other Artificial Body Parts
37
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
37
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn, % Change)
38
Patient Aids Market Forecast
39
Portable Aids
39
Therapeutic Appliances
39
Table: Patient Aids Market, 2008-2018 (USDmn)
40
Table: Patient Aids Market, 2009-2018 (USDmn % Change)
40
Other Medical Devices Market Forecast
41
Table: Other Medical Devices Market, 2008-2018 (USDmn)
42
Table: Other Medical Devices Market, 2009-2018 (USDmn % Change)
43
Annual Medical Device Imports
44
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
47
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s % Change)
48
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
49
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s % Change)
50
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
52
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
53
Table: Detailed Medical Device Import Trends By Product Area, 2013
56
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
60
Monthly Medical Device Imports
63
Table: Monthly Medical Device Imports By Product Area, December 2011 - December 2014 (USDmn)
63
Annual Medical Device Exports
65
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
68
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s % Change)
69
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
70
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s % Change)
71
Table: Top 20 Medical Device Destinations, 2013 (USD000s)
72
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
73
Table: Detailed Medical Device Export Trends By Product Area, 2013
76
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
80
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
83
Monthly Medical Device Exports
86
Table: Monthly Medical Device Exports By Product Area, December 2011 - December 2014 (USDmn)
86
Macroeconomic Forecasts
88
Economic Analysis
88
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
88
Table: GDP Contribution To Growth (Colombia 2012-2020)
92
Industry Risk/Reward Index
93
Table: Americas Medical Device Risk/Reward Index, Q315
94
Market Overview
95
Medical Device Market Overview
95
Table: Medical Device Market, Key Ratios, 2013
96
Table: Medical Device Market By Product Area, 2013
97
Healthcare Overview
97
Health Status
97
Healthcare System
99
Healthcare Funding
101
Table: Health Insurance Coverage By Type, 2013
102
Healthcare Resources
106
Healthcare Activity
106
Healthcare Personnel
106
Key Healthcare Data
107
Table: Key Healthcare Data, 2009-2014
107
Industry Trends And Developments
110
Industry Trends & Developments
110
Table: Leading Medical Device Suppliers, 2009-2014 (USDmn)
110
Table: Leading Medical Device Destinations, 2009-2014 (USDmn)
111
Regulatory Development
116
Medical Device Regulations
116
Competent Authority
116
Regulations
116
Fees
117
Table: Medical Device Registration Fees, 2014
118
Market Vigilance
118
Medical Device Pricing & Reimbursement
118
Pricing
118
Health Technology Assessment
120
Competitive Landscape
122
Domestic Medical Device Production
122
Table: Medical Device Production By Product Area, 2007-2011 (COPmn)
122
Table: Medical Device Production By Product Area, 2007-2011 (USDmn)
125
Domestic Medical Device Manufacturing
129
Table: Medical Device Producers, 2006-2010
129
Table: Medical Device Producers By Size And Type, 2010
129
Table: Medical Device Producers By Department, 2010
130
Table: Establishments Certified For Medical Device Production, August 31 2014
131
National Medical Device Manufacturers
138
Ranking
138
Table: National Medical Device Manufacturers' Ranking By Sales, 2009-2013 (COPmn)
138
Selected Manufacturers
139
Multinational Medical Device Manufacturers
146
Ranking
146
Table: Multinational Medical Device Manufacturers' Ranking By Sales, 2009-2013 (COPmn)
146
Selected Manufacturers
146
Multinational Market Activity
150
Ranking
150
Table: Multinational Medical Device Companies' Ranking By Sales, 2009-2013 (COPmn)
150
Market Activity
151
Table: Multinational Market Activity, 2015
151
Medical Device Market Access
155
Market Environment
155
Distribution
155
Trade Associations
155
Trade Shows
156
Trade Agreements
156
Methodology
158
Forecast Methodology
158
Trade Code Classifications
159
Table: Used HS Trade Codes
159
Table: Rearranged HS Trade Codes
161
Risk/Reward Index Methodology
164
Table: Medical Devices Risk/Reward Index Indicators
165
Sources
167
Contact
168

The Colombia 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 Colombia provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Colombia Medical Devices industry.

Key Benefits

  • Benchmark BMI's Medical Devices market 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 demographic trends, regulatory developments, investment dynamics and domestic demand in Colombia.
  • 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: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.

Macroeconomic Forecasts

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.

Market Overview

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.

Regulatory developments

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.

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.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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