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 Venezuelan medical device 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 challenge 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 maintain that the market will register a hyper-inflated 2015-2020 CAGR in local currency terms. The bolivar will remain under depreciatory pressure over the coming years, following a sizeable devaluation of the local currency in 2015, which will hinder market size and growth in US dollar terms.

  • We anticipate that 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).

  • We maintain that 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.

  • We expect continued barriers to healthcare access. In June 2016, the Venezuelan Association of Medical, Dental and Laboratory Distributors (AVEDEM - Asociacion Venezolana de Distribuidores de Equipos Medicos, Odontologicos, de Laboratorio y Afines) informed that only 20% of all medical equipment units are currently operational in the country, ranging from 10% in the public sector to 55% in the private sector, due to electricity cuts and a lack of replacement parts and supplies.

BMI Industry View
9
Table: Projected Medical Device Market, 2015-2020
9
Latest Updates And Key Forecasts
9
SWOT
11
Medical Device Market
11
Industry Forecast
13
Medical Device Market Forecast
13
Latest Updates
13
Structural Trends
13
Table: Detailed Medical Device Market By Product Area, 2010-2020 (USDmn)
15
Consumables Market Forecast
19
Latest Updates
19
Structural Trends
19
Bandages & Dressings
19
Suturing Materials
20
Syringes, Needles & Catheters
20
Other Consumables
20
Table: Consumables Market, 2010-2020 (USDmn)
21
Table: Consumables Market, 2011-2020 (USDmn % Change)
22
Diagnostic Imaging Market Forecast
24
Latest Updates
24
Structural Trends
24
Electrodiagnostic Apparatus
25
Radiation Apparatus
25
Imaging Parts & Accessories
25
Table: Diagnostic Imaging Market, 2010-2020 (USDmn)
26
Table: Diagnostic Imaging Market, 2011-2020 (USDmn % Change)
27
Dental Products Market Forecast
29
Latest Updates
29
Structural Trends
29
Capital Equipment
30
Instruments & Supplies
30
Table: Dental Products Market, 2010-2020 (USDmn)
31
Table: Dental Products Market, 2011-2020 (USDmn % Change)
32
Orthopaedics & Prosthetics Market Forecast
34
Latest Updates
34
Structural Trends
34
Fixation Devices
34
Artificial Joints
35
Other Artificial Body Parts
35
Table: Orthopaedics & Prosthetics Market, 2010-2020 (USDmn)
36
Table: Orthopaedics & Prosthetics Market, 2011-2020 (USDmn % Change)
36
Patient Aids Market Forecast
38
Latest Updates
38
Structural Trends
38
Portable Aids
38
Therapeutic Appliances
39
Table: Patient Aids Market, 2010-2020 (USDmn)
39
Table: Patient Aids Market, 2011-2020 (USDmn % Change)
40
Other Medical Devices Market Forecast
42
Latest Updates
42
Structural Trends
42
Table: Other Medical Devices Market, 2010-2020 (USDmn)
43
Table: Other Medical Devices Market, 2011-2020 (USDmn % Change)
44
Annual Medical Device Imports
46
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
50
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
51
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
53
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
54
Table: Detailed Medical Device Import Trends By Product Area, 2013
57
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
60
Monthly Medical Device Imports
63
Table: Monthly Medical Device Imports By Product Area, Year Ending February 2014 (USDmn)
63
Annual Medical Device Exports
64
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
66
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
67
Table: Top 11 Medical Device Destinations, 2013 (USD000s)
69
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
70
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
73
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
76
Monthly Medical Device Exports
79
Table: Monthly Medical Device Exports By Product Area, Year Ending February 2014 (USDmn)
79
Industry Risk/Reward Index
80
Table: Americas Medical Device Risk/Reward Index, Q316
81
Market Overview
82
Medical Device Market Overview
82
Table: Medical Device Market, Key Ratios, 2015
82
Table: Medical Device Market By Product Area, 2015
83
Healthcare Overview
84
Health Status
84
Healthcare System
85
Public Healthcare Providers
86
Private Healthcare Providers
88
Healthcare Funding
88
Healthcare Resources
89
Healthcare Activity
92
Healthcare Personnel
93
Key Healthcare Data
94
Table: Key Healthcare Data, 2010-2015
94
Industry Trends And Developments
97
Industry Trends & Developments
97
Regulatory Development
100
Medical Device Regulations
100
Competent Authority
100
Regulations
100
Market Vigilance
102
Medical Device Pricing & Reimbursement
102
Pricing
102
Procurement
103
Competitive Landscape
104
Domestic Medical Device Manufacturing
104
National Medical Device Manufacturers
105
Alda
105
Bligsen Electronics
105
Descart Industries
105
La Vasconia
106
Multinational Medical Device Manufacturers
106
BSN Medical
106
Multinational Market Activity
106
Becton Dickinson
106
Fresenius Medical Care
107
General Electric
107
Johnson & Johnson
108
Medtronic
108
Philips
108
Siemens
109
Smith & Nephew
110
Stryker
110
Medical Device Market Access
111
Market Environment
111
Distribution
111
Foreign Exchange Controls
112
Trade Agreements
113
Trade Associations
113
Methodology
114
Forecast Methodology
114
Trade Code Classifications
115
Table: Rearranged HS Trade Codes
116
Risk/Reward Index Methodology
119
Table: Medical Devices Risk/Reward Index Indicators
120
Sources
122
Contact
123

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.