BMI View: The market will record lower growth over the forecast period. Subdued 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 and consolidation will intensify, keeping prices lower.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
The market will register a 2015-2020 CAGR of 8.6% in local currency terms and 9.5% in US dollar terms, reaching COP4.3trn (USD1.6bn). The subdued economic outlook will slow down medical device consumption in local currency terms over the forecast period.
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%.
Leading multinationals will continue to consolidate their market presence. BSN Medical announced a joint venture with Ortopedicos Futuro in December 2015, GE Healthcare signed a definitive agreement to acquire General Medica de Colombia in February 2015, and Smith & Nephew announced the acquisition of EuroCiencia Colombia in March 2015.
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.
- 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.
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.