Venezuela 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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Venezuela Medical Devices Report
Product Price
$1,295.00

BMI View: The market will register hyper-inflated growth in local currency terms, but p ersistent economic challenges will hinder market performance in US dollar terms . Import controls and shortages will continue to impact negatively on public and private healthcare access . The operating environment will remain very precarious for foreign multinationals due to heightened political risks, macro economic imbalances and immense pressure on the bolivar.

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 209.4 6.7 6,128.1 197.0 29.3
2016 263.6 8.4 9,793.5 310.7 37.1
2017 280.5 8.8 14,977.7 469.1 53.4
2018 328.7 10.2 23,362.7 722.7 71.1
2019 365.1 11.2 32,135.9 982.0 88.0
2020 397.5 12.0 41,275.3 1,246.4 103.8

Latest Updates And Key Forecasts

  • We anticipate that Venezuela will record a 2015-2020 CAGR of 13.7% in US dollar terms, up from a 2015-2020 CAGR of -30.8%, which will take expenditure to USD0.4bn. The bolivar will remain under depreciatory pressure over the coming years, following a sizeable devaluation of the local currency in 2015, which will affect the market in US dollar terms.

  • Imports over the forecast period will not return to the 2010-2011 levels in US dollar terms due to the economic recession, a deteriorating business climate, the devaluation of the local currency and tighter import controls imposed by the National Foreign Trade Centre (CENCOEX - Centro Nacional de Comercio Exterior).

  • Exports will remain negligible. Major barriers include limited domestic production geared to the internal market, a lack of export capabilities and weak regulatory compliance to meet the needs of external markets.

  • In December 2015, the Venezuelan Association of Clinics and Hospitals (AVCH - Asociacion de Clinicas y Hospitales) reported drastic shortages of medical supplies, which started in late 2013, increased in 2014 and peaked in 2015. Of annual import needs valued at USD1.0bn, AVCH indicated that just above 11.3% was fulfilled in 2015, which means that the deficit was massive.

BMI Industry View
7
Table: Projected Medical Device Market, 2015-2020
7
Latest Updates And Key Forecasts
7
SWOT
8
Medical Device Market
8
Industry Forecast
10
Medical Device Market Forecast
10
Latest Updates
10
Structural Trends
10
Table: Detailed Medical Device Market By Product Area, 2010-2020 (USDmn)
12
Consumables Market Forecast
16
Latest Updates
16
Structural Trends
16
Bandages & Dressings
16
Suturing Materials
17
Syringes, Needles & Catheters
17
Other Consumables
17
Table: Consumables Market, 2010-2020 (USDmn)
18
Table: Consumables Market, 2011-2020 (USDmn % Change)
19
Diagnostic Imaging Market Forecast
21
Latest Updates
21
Structural Trends
21
Electrodiagnostic Apparatus
22
Radiation Apparatus
22
Imaging Parts & Accessories
22
Table: Diagnostic Imaging Market, 2010-2020 (USDmn)
23
Table: Diagnostic Imaging Market, 2011-2020 (USDmn % Change)
24
Dental Products Market Forecast
26
Latest Updates
26
Structural Trends
26
Capital Equipment
27
Instruments & Supplies
27
Table: Dental Products Market, 2010-2020 (USDmn)
28
Table: Dental Products Market, 2011-2020 (USDmn % Change)
29
Orthopaedics & Prosthetics Market Forecast
31
Latest Updates
31
Structural Trends
31
Fixation Devices
31
Artificial Joints
32
Other Artificial Body Parts
32
Table: Orthopaedics & Prosthetics Market, 2010-2020 (USDmn)
33
Table: Orthopaedics & Prosthetics Market, 2011-2020 (USDmn % Change)
33
Patient Aids Market Forecast
35
Latest Updates
35
Structural Trends
35
Portable Aids
35
Therapeutic Appliances
36
Table: Patient Aids Market, 2010-2020 (USDmn)
36
Table: Patient Aids Market, 2011-2020 (USDmn % Change)
37
Other Medical Devices Market Forecast
39
Latest Updates
39
Structural Trends
39
Table: Other Medical Devices Market, 2010-2020 (USDmn)
40
Table: Other Medical Devices Market, 2011-2020 (USDmn % Change)
41
Annual Medical Device Imports
43
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
47
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
48
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
50
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
51
Table: Detailed Medical Device Import Trends By Product Area, 2013
54
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
57
Monthly Medical Device Imports
60
Table: Monthly Medical Device Imports By Product Area, Year Ending February 2014 (USDmn)
60
Annual Medical Device Exports
61
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
63
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
64
Table: Top 11 Medical Device Destinations, 2013 (USD000s)
66
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
67
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
70
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
73
Monthly Medical Device Exports
76
Table: Monthly Medical Device Exports By Product Area, Year Ending February 2014 (USDmn)
76
Industry Risk/Reward Index
77
Table: Americas Medical Device Risk/Reward Index, Q216
78
Market Overview
79
Medical Device Market Overview
79
Table: Medical Device Market, Key Ratios, 2015
79
Table: Medical Device Market By Product Area, 2015
80
Healthcare Overview
81
Health Status
81
Healthcare System
82
Public Healthcare Providers
83
Private Healthcare Providers
85
Healthcare Funding
85
Healthcare Resources
86
Healthcare Activity
89
Healthcare Personnel
90
Key Healthcare Data
91
Table: Key Healthcare Data, 2010-2015
91
Industry Trends And Developments
94
Industry Trends & Developments
94
Regulatory Development
98
Medical Device Regulations
98
Competent Authority
98
Regulations
98
Market Vigilance
100
Medical Device Pricing & Reimbursement
100
Pricing
100
Procurement
101
Competitive Landscape
102
Domestic Medical Device Manufacturing
102
National Medical Device Manufacturers
103
Multinational Medical Device Manufacturers
104
Multinational Market Activity
104
Table: Multinational Market Activity, 2016
104
Medical Device Market Access
107
Market Environment
107
Distribution
107
Foreign Exchange Controls
108
Trade Agreements
109
Trade Associations
109
Methodology
110
Forecast Methodology
110
Trade Code Classifications
111
Table: Rearranged HS Trade Codes
112
Risk/Reward Index Methodology
115
Table: Medical Devices Risk/Reward Index Indicators
116
Sources
118
Contact
119

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

Key Benefits

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