Colombia Medical Devices Report

Providing expert analysis, independent forecasts and competitive intelligence on the medical devices industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, Industry Risk Reward Index, Regulatory Development, Competitive Landscape and Regional and Country Industry Overviews.

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Colombia Medical Devices Report
Product Price
$1,295.00

BMI View: The market will record moderate growth in local currency terms and low growth in US dollar terms over the forecast period. Only modest economic acceleration ahead and depreciatory pressures on the peso will constrain market growth. Imports will be slower in this decade than in the last, while exports will remain low despite peso plunge . Market competition will intensify, keeping prices lower.

Projected Medical Device Market, 2014-2019
Total (USDmn) Per Capita (USD) Total (Local Currency mn) Per Capita (Local Currency) Exchange Rate (Local Currency/USD)
Source: BMI
2014 1,289.4 26.4 2,581,998.6 52,769.6 2,002.5
2015 1,096.6 22.1 2,807,326.2 56,680.2 2,560.0
2016 1,166.5 23.3 3,032,912.0 60,513.7 2,600.0
2017 1,290.6 25.5 3,291,132.0 64,914.2 2,550.0
2018 1,494.4 29.1 3,586,576.7 69,954.8 2,400.0
2019 1,590.7 30.7 3,897,173.7 75,191.8 2,450.0

Latest Updates and Key Forecasts

  • The market will register a 2014-2019 CAGR of 8.6% in local currency terms and 4.3% in US dollar terms, reaching COP3.9trn (USD1.6bn). Real GDP growth will accelerate in 2016, on the back of increased infrastructure sector activity and a modest uptick in oil production. That said, this will only provide modest tailwinds, insufficient to see the economy regain the momentum it possessed during the commodity boom years, which will hinder medical device consumption.

  • Import growth in US dollar terms will be volatile due to exchange rate movements and much slower over this decade than in the last. Imports fell by 4.5% to USD0.3bn in the three months to July 2015, while they rose by 6.6% USD1.1bn in the 12 months to July 2015. Comparatively, imports increased by 14.0% to USD1.1bn in 2014, and registered a 2009-2014 CAGR of 14.4%.

  • Exports will remain low over the forecast period despise peso depreciation, due a relatively strong production targeting the internal market. In US dollar terms, exports fell by 4.7% to USD17.8mn in the three months to July 2015, while they rose by 2.6% to USD70.0mn in the 12 months to July 2015. Comparatively, exports rose by 2.0% to USD71.6mn in 2014, but recorded a 2009-2014 CAGR of -5.0%.

  • In February 2015, President Juan Manuel Santos and Minister of Health and Social Protection Alejandro Gaviria Uribe finally signed the Statutory Health Law (Ley Estatutaria de la Salud). This law, which forms part of the 2014-2018 National Development Plan (PND - Plan Nacional de Desarrollo), makes healthcare a fundamental right to all citizens.

BMI Industry View
9
SWOT
11
Medical Device Market
11
Political
13
Economic
14
Operational Risk
15
Industry Forecast
17
Medical Device Market Forecast
17
2014-2019 Performance
17
Table: Projected Medical Device Market, 2014-2019
18
2009-2014 Performance
18
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn)
20
Consumables Market Forecast
24
Bandages & Dressings
24
Suturing Materials
25
Syringes, Needles & Catheters
25
Other Consumables
25
Table: Consumables Market, 2009-2019 (USDmn)
26
Table: Consumables Market, 2010-2019 (USDmn % Change)
27
Diagnostic Imaging Market Forecast
29
Electrodiagnostic Apparatus
29
Radiation Apparatus
30
Imaging Parts & Accessories
30
Table: Diagnostic Imaging Market, 2009-2019 (USDmn)
31
Table: Diagnostic Imaging Market, 2010-2019 (USDmn % Change)
32
Dental Products Market Forecast
34
Capital Equipment
34
Instruments & Supplies
35
Table: Dental Products Market, 2009-2019 (USDmn)
35
Table: Dental Products Market, 2010-2019 (USDmn % Change)
36
Orthopaedics & Prosthetics Market Forecast
38
Fixation Devices
38
Artificial Joints
39
Other Artificial Body Parts
39
Table: Orthopaedics & Prosthetics Market, 2009-2019 (USDmn)
39
Table: Orthopaedics & Prosthetics Market, 2010-2019 (USDmn, % Change)
40
Patient Aids Market Forecast
41
Portable Aids
41
Therapeutic Appliances
42
Table: Patient Aids Market, 2009-2019 (USDmn)
42
Table: Patient Aids Market, 2010-2019 (USDmn % Change)
43
Other Medical Devices Market Forecast
45
Table: Other Medical Devices Market, 2009-2019 (USDmn)
46
Table: Other Medical Devices Market, 2010-2019 (USDmn % Change)
47
Annual Medical Device Imports
49
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s)
52
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s % Change)
53
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s)
54
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s % Change)
55
Table: Top 20 Medical Device Suppliers, 2014 (USD000s)
57
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s)
58
Table: Detailed Medical Device Import Trends By Product Area, 2014
61
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s)
64
Monthly Medical Device Imports
67
Table: Monthly Medical Device Imports By Product Area, June 2012 - May 2015 (USDmn)
67
Annual Medical Device Exports
69
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s)
72
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s % Change)
73
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s)
74
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s % Change)
75
Table: Top 20 Medical Device Destinations, 2014 (USD000s)
76
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s)
77
Table: Detailed Medical Device Export Trends By Product Area, 2014
80
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s)
84
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s)
87
Monthly Medical Device Exports
90
Table: Monthly Medical Device Exports By Product Area, June 2012 - May 2015 (USDmn)
90
Macroeconomic Forecasts
92
Economic Analysis
92
Table: Colombia - Key Economic Indicators
92
Table: Colombia - Private Consumption Forecasts
95
Table: Colombia - Government Consumption Forecasts
96
Table: Colombia - Fixed Investment Forecasts
97
Table: Colombia - Net Exports Forecasts
97
Industry Risk/Reward Index
98
Table: Americas Medical Device Risk/Reward Index, Q415
99
Market Overview
100
Medical Device Market Overview
100
Table: Medical Device Market, Key Ratios, 2014
100
Table: Medical Device Market By Product Area, 2014
101
Healthcare Overview
101
Health Status
101
Healthcare System
103
Healthcare Funding
105
Table: Health Insurance Coverage By Type, 2013
106
Healthcare Resources
110
Healthcare Activity
110
Healthcare Personnel
110
Key Healthcare Data
111
Table: Key Healthcare Data, 2009-2014
111
Industry Trends And Developments
114
Industry Trends & Developments
114
Table: Leading Medical Device Suppliers, 2009-2014 (USDmn)
114
Table: Leading Medical Device Destinations, 2009-2014 (USDmn)
115
Regulatory Development
120
Medical Device Regulations
120
Competent Authority
120
Regulations
120
Fees
121
Table: Medical Device Registration Fees, 2014
122
Market Vigilance
122
Medical Device Pricing & Reimbursement
122
Pricing
122
Health Technology Assessment
124
Competitive Landscape
126
Domestic Medical Device Production
126
Table: Medical Device Production By Product Area, 2008-2013 (COPmn)
126
Table: Medical Device Production By Product Area, 2008-2013 (USDmn)
129
Domestic Medical Device Manufacturing
133
Table: Medical Device Producers, 2006-2010
133
Table: Medical Device Producers By Size And Type, 2010
133
Table: Medical Device Producers By Department, 2010
134
Table: Establishments Certified For Medical Device Production, August 31 2014
135
National Medical Device Manufacturers
142
Ranking
142
Table: National Medical Device Manufacturers' Ranking By Sales, 2009-2013 (COPmn)
142
Selected Manufacturers
143
Multinational Medical Device Manufacturers
150
Ranking
150
Table: Multinational Medical Device Manufacturers' Ranking By Sales, 2009-2013 (COPmn)
150
Selected Manufacturers
150
Multinational Market Activity
154
Ranking
154
Table: Multinational Medical Device Companies' Ranking By Sales, 2009-2013 (COPmn)
154
Market Activity
155
Table: Multinational Market Activity, 2015
155
Medical Device Market Access
159
Market Environment
159
Distribution
159
Trade Associations
159
Trade Shows
160
Trade Agreements
160
Methodology
162
Forecast Methodology
162
Trade Code Classifications
163
Table: Rearranged HS Trade Codes
164
Risk/Reward Index Methodology
167
Table: Medical Devices Risk/Reward Index Indicators
168
Sources
170
Contact
171

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.