Cuba Medical Devices Report

Published 20 March 2015

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Cuba Medical Devices Report

BMI Industry View: We forecast that the Cuban medical device market will register the third lowest 2013-2018 CAGR in the Americas region. The market, which is the smallest in the region, remains reliant on imports from mainly China and Europe . US suppliers cannot compete due to the US economic embargo but opportunities will exist in a post-embargo era . Opportunities remain for other foreign medical device companies, particularly from the fellow communist China.

Headline Industry Forecasts

  • We forecast that the Cuban market, which is the smallest in the Americas region, will grow by a 2013-2018 CAGR of 4.3% in US dollar terms. This will be the third lowest CAGR in the region, behind Venezuela and Canada. The market will increase to USD147.8mn by 2018, equal to USD13 per capita.

  • The market will continue to rely heavily on volatile imports, in spite of the government's efforts to cut imports. Imports increased to USD110.0mn in the 12 months to December 2014, which represented a rise of 0.9% in US dollar terms. Previously, they contracted by a 2008-2013 CAGR of 6.8%.

  • Cuba will continue to export a small but changing amount of medical devices, due to the rise and fall in exports to Venezuela, which receives most Cuban exports. Following the collapse in the price of crude, an already fragile Venezuelan economy poses additional challenges for Cuban export recovery. Exports fell to USD3.5mn over the 12 months to December 2014, which represented a decrease of 77.8% in US dollar terms. Previously, they grew by a 2008-2013 CAGR of 37.2%.

  • While Cuba has a significant domestic pharmaceutical and biotechnology industry, there is very little domestic medical device production. What is manufactured tends to revolve around basic products, such as optical lenses, surgical dressings and dental supplies, and some electromedical equipment.

Headline Risk/Reward Index

  • Cuba is the least attractive market in the Americas region in which to commercialise a...

Table of Contents

BMI Industry View
7
SWOT
10
Medical Device Market
10
Political
12
Economic
13
Operational Risk
14
Industry Forecast
15
Medical Device Market Forecast
15
2008-2013 Performance
15
2013-2018 Performance
16
Table: Projected Medical Device Market, 2013-2018
17
Table: Detailed Medical Device Market By Product Area, 2008-2018 (USDmn)
18
Consumables Market Forecast
21
Bandages & Dressings
21
Suturing Materials
21
Syringes, Needles & Catheters
21
Other Consumables
22
Table: Consumables Market, 2008-2018 (USDmn)
22
Table: Consumables Market, 2009-2018 (USDmn % Change)
23
Diagnostic Imaging Market Forecast
25
Electrodiagnostic Apparatus
25
Radiation Apparatus
25
Imaging Parts & Accessories
26
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
26
Table: Diagnostic Imaging Market, 2009-2018 (USDmn % Change)
27
Dental Products Market Forecast
29
Capital Equipment
29
Instruments & Supplies
29
Table: Dental Products Market, 2008-2018 (USDmn)
30
Table: Dental Products Market, 2009-2018 (USDmn % Change)
30
Orthopaedics & Prosthetics Market Forecast
32
Fixation Devices
32
Artificial Joints
33
Other Artificial Body Parts
33
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
33
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn % Change)
34
Patient Aids Market Forecast
35
Portable Aids
35
Therapeutic Appliances
35
Table: Patient Aids Market, 2008-2018 (USDmn)
36
Table: Patient Aids Market, 2009-2018 (USDmn % Change)
36
Other Medical Devices Market Forecast
38
Table: Other Medical Devices Market, 2008-2018 (USDmn)
38
Table: Other Medical Devices Market, 2009-2018 (USDmn % Change)
39
Annual Medical Device Imports
41
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
43
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s % Change)
44
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s % Change)
46
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
49
Table: Detailed Medical Device Imports By Product Area, 2008-2013 (USD000s)
50
Table: Detailed Medical Device Import Trends By Product Area, 2013
53
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
56
Monthly Medical Device Imports
60
Table: Monthly Medical Device Imports By Product Area, March 2012 - September 2014 (USDmn)
60
Annual Medical Device Exports
62
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
64
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s % Change)
65
Table: Medical Device Exports By Product Area, 2008-2013 (Local Currency 000s)
66
Table: Medical Device Exports By Product Area, 2008-2013 (Local Currency 000s % Change)
67
Table: Top 16 Medical Device Destinations, 2013 (USD000s)
69
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
70
Table: Detailed Medical Device Export Trends By Product Area, 2013
73
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
76
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
79
Monthly Medical Device Exports
83
Table: Monthly Medical Device Exports By Product Areas, March 2012 - September 2014 (USDmn)
83
Macroeconomic Forecast
85
Long-Term Economic Outlook
85
Table: The Cuban Business Environment Two-Step
88
Table: Long-Term Macroeconomic Forecasts (Cuba 2014-2023)
90
Industry Risk/Reward Index
91
Table: Americas Medical Device Risk/Reward Index, Q215
92
Market Overview
93
Medical Device Market Overview
93
Table: Medical Device Market, Key Ratios, 2013
94
Table: Medical Device Market By Product Area, 2013
95
Healthcare Overview
95
Health Status
95
Healthcare System
96
Public Healthcare Providers
97
Healthcare Funding
97
Healthcare Resources
97
Healthcare Services
98
Healthcare Personnel
99
Key Healthcare Data
100
Table: Key Healthcare Data, 2009-2014
100
Industry Trends And Developments
103
Industry Trends & Developments
103
Regulatory Development
108
Medical Device Regulations
108
Competent Authority
108
Regulations
108
Table: Medical Device Regulations, 1992-2014
109
Registrations
110
Table: Registration Fees By Class And Complexity Type, October 1 2014 (CUP)
110
Table: Renewal Fees By Class And Complexity Type, October 1 2014 (CUP)
111
Competitive Landscape
112
Domestic Medical Device Manufacturing
112
National Medical Device Manufacturers
112
Multinational Market Activity
116
Medical Device Market Access
117
Administrative Divisions
117
Distribution
118
Trade Embargo
118
Trade Association
119
Table: Biotechnology, Pharmaceutical & Healthcare's Members Of CAMARACUBA, 2010
119
Trade Shows & Congresses
120
Methodology
123
Forecast Methodology
123
Trade Code Classifications
124
Table: Used HS Trade Codes
124
Table: Rearranged HS Trade Codes
126
Risk/Reward Index Methodology
129
Table: Medical Devices Risk/Reward Index Indicators
130
Sources
132
Contact
133

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

Key Benefits

  • Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Cuba, 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 Cuba.
  • Target Business Opportunities in the Cuba Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Cuba.
  • 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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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc