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 Colombian medical device market will record lower growth over the forecast period. Subdued economic acceleration ahead and depreciatory pressures on the peso will cont ain market g rowth. Imports will be slower over this decade than in the last, while exports will remain low despite peso plunge . Market competition and consolidation , led by multinationals , will intensify, keeping prices lower.

Projected Medical Device Market, 2015-2020
Total (USDmn) Per Capita (USD) Total (Local Currency mn) Per Capita (Local Currency) Exchange Rate (Local Currency/USD)
Source: BMI
2015 1,034.1 21.4 2,839,428.5 58,874.2 2,745.8
2016 946.3 19.5 3,110,888.3 63,938.5 3,287.3
2017 1,045.9 21.3 3,373,011.0 68,741.6 3,225.0
2018 1,254.0 25.3 3,667,821.3 74,144.1 2,925.0
2019 1,459.6 29.3 3,977,441.8 79,778.5 2,725.0
2020 1,629.5 32.4 4,297,934.0 85,566.9 2,637.5

Latest Updates And Key Forecasts

  • We forecast that the market will register a 2015-2020 CAGR of 8.6% in local currency terms and 9.5% in US dollar terms. The subdued economic outlook will slow down medical device consumption in local currency terms over the forecast period.

  • We anticipate much slower import growth over this decade than in the last. Quarterly import growth in US dollar terms has been negative since Q315 due to exchange rate fluctuations. The latest data show that imports fell by 22.9% to USD0.2bn in the three months to February 2016, and contracted by 10.2% to USD1.0bn in the 12 months to February 2016.

  • We expect exports to remain low, mainly sent to neighbouring Latin American countries. Recent quarterly export growth in US dollar terms has been largely negative due to currency fluctuations. The latest data show that exports fell by 2.9% to USD16.0mn in the three months to February 2016, and contracted by 3.9% to USD68.5mn in the 12 months to February 2016.

  • We expect leading multinationals to strengthen their market presence and dominate the competitive market. Johnson & Johnson, Siemens and Baxter have revenues in excess of COP500bn, while Medtronic, Philips, GE and Becton Dickinson have sales of over COP100bn. Large local companies will increase their focus on medical devices, while smaller national companies will become acquisition targets.

BMI Industry View
9
Table: Projected Medical Device Market, 2015-2020
9
Latest Updates And Key Forecasts
9
SWOT
10
Medical Device Market
10
Industry Forecast
12
Medical Device Market Forecast
12
Latest Updates
12
Structural Trends
12
Table: Detailed Medical Device Market By Product Area, 2010-2020 (USDmn)
14
Consumables Market Forecast
18
Latest Updates
18
Structural Trends
18
Bandages & Dressings
18
Suturing Materials
19
Syringes, Needles & Catheters
19
Other Consumables
19
Table: Consumables Market, 2010-2020 (USDmn)
20
Table: Consumables Market, 2011-2020 (USDmn % Change)
21
Diagnostic Imaging Market Forecast
23
Latest Updates
23
Structural Trends
23
Electrodiagnostic Apparatus
24
Radiation Apparatus
24
Imaging Parts & Accessories
24
Table: Diagnostic Imaging Market, 2010-2020 (USDmn)
25
Table: Diagnostic Imaging Market, 2011-2020 (USDmn % Change)
26
Dental Products Market Forecast
28
Latest Updates
28
Structural Trends
28
Capital Equipment
28
Instruments & Supplies
29
Table: Dental Products Market, 2010-2020 (USDmn)
29
Table: Dental Products Market, 2011-2020 (USDmn % Change)
30
Orthopaedics & Prosthetics Market Forecast
32
Latest Updates
32
Structural Trends
32
Fixation Devices
33
Artificial Joints
33
Other Artificial Body Parts
34
Table: Orthopaedics & Prosthetics Market, 2010-2020 (USDmn)
34
Table: Orthopaedics & Prosthetics Market, 2011-2020 (USDmn, % Change)
34
Patient Aids Market Forecast
36
Latest Updates
36
Structural Trends
36
Portable Aids
36
Therapeutic Appliances
37
Table: Patient Aids Market, 2010-2020 (USDmn)
37
Table: Patient Aids Market, 2011-2020 (USDmn % Change)
38
Other Medical Devices Market Forecast
40
Latest Updates
40
Structural Trends
40
Table: Other Medical Devices Market, 2010-2020 (USDmn)
41
Table: Other Medical Devices Market, 2011-2020 (USDmn % Change)
42
Annual Medical Device Imports
44
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s)
47
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s)
48
Table: Top 20 Medical Device Suppliers, 2014 (USD000s)
50
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s)
51
Table: Detailed Medical Device Import Trends By Product Area, 2014
54
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s)
57
Monthly Medical Device Imports
60
Table: Monthly Medical Device Imports By Product Area, Year Ending February 2016 (USDmn)
60
Annual Medical Device Exports
61
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s)
64
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s)
65
Table: Top 20 Medical Device Destinations, 2014 (USD000s)
67
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s)
68
Table: Detailed Medical Device Export Trends By Product Area, 2014
71
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s)
74
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s)
77
Monthly Medical Device Exports
80
Table: Monthly Medical Device Exports By Product Area, Year Ending February 2016 (USDmn)
80
Industry Risk/Reward Index
81
Table: Americas Medical Device Risk/Reward Index, Q316
82
Market Overview
83
Medical Device Market Overview
83
Table: Medical Device Market, Key Ratios, 2015
83
Table: Medical Device Market By Product Area, 2015
84
Healthcare Overview
84
Health Status
84
Healthcare System
86
Healthcare Funding
88
Healthcare Resources
92
Healthcare Activity
92
Healthcare Personnel
92
Key Healthcare Data
93
Table: Key Healthcare Data, 2010-2015
93
Industry Trends And Developments
95
Industry Trends & Developments
95
Table: Sales By Leading Companies, 2013-2014 (COP bn)
99
Regulatory Development
101
Medical Device Regulations
101
Competent Authority
101
Regulations
101
Fees
103
Table: Medical Device Registration Fees, 2016/2017
103
Medical Device Pricing & Reimbursement
103
Pricing
103
Health Technology Assessment
106
Competitive Landscape
107
Domestic Medical Device Production
107
Table: Medical Device Production By Product Area, 2008-2013 (COPmn)
107
Domestic Medical Device Manufacturing
111
Table: Medical Device Producers, 2006-2010
111
Table: Medical Device Producers By Size And Type, 2010
111
Table: Medical Device Producers By Department, 2010
112
Table: Establishments Certified For Medical Device Production, August 31 2014
113
National Medical Device Manufacturers
120
Adhinter
120
Bioplast
120
Eterna
121
Glormed
121
Gothaplast
121
Higietex
122
Industrias M-dicas Sampedro
122
Industrias Met-licas Los Pinos
122
Mediimplantes
123
Meditec
123
New Stetic
123
Procaps
124
Proplas
124
Protex
125
Rymco
125
Sherleg Laboratories
125
Supertex Medical
126
Multinational Medical Device Manufacturers
126
3M
126
B
127
Baxter
127
BSN Medical
128
Fresenius Medical Care
128
Vygon
129
Multinational Market Activity
130
Becton Dickinson
130
Boston Scientific
130
GE
130
Johnson & Johnson
131
Medtronic
131
Nihon Kohden
132
Philips
132
Siemens
133
Smith & Nephew
133
Stryker
134
Medical Device Market Access
134
Market Environment
134
Distribution
134
Trade Associations
135
Trade Shows
135
Trade Agreements
135
Methodology
136
Forecast Methodology
136
Trade Code Classifications
137
Table: Rearranged HS Trade Codes
138
Risk/Reward Index Methodology
141
Table: Medical Devices Risk/Reward Index Indicators
142
Sources
144
Contact
145

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.