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The Medical Device Market: Colombia

  • January 2014
  • -
  • Espicom Business Intelligence
  • -
  • 166 pages

OVERVIEW OF THE MEDICAL MARKET IN COLOMBIA
Colombia is the third most populous country in Latin America, behind Brazil and Mexico, with a population of 48mn The capital, Santa Fe de Bogotá, has a population of around 7mn The population is relatively young and growing rapidly thanks to a high birth rate and a low mortality rate

Colombia is the fourth largest economy in Latin America, after Brazil, Mexico and Argentina, and ranks within the top 30 largest economies in the world In 2013, GDP is forecast to reach US$379 0bn, equivalent to around US$7,869 per capita Economic growth remains well above average for the Latin American region with GDP forecast to rise 4 1% in real terms during 2013

The country's healthcare infrastructure is adequate in the larger urban areas, but in need of modernisation The healthcare system is complex, and coverage is not yet universal Funding is generally very low; per capita health spending is estimated at US$479 in 2013, whilst expenditure on medical equipment is only around US$24 per person

Colombia announced an Emergency Social Plan in 2010, to tackle corruption and find new sources of income for the public healthcare sector Ten decrees were signed with a view to protecting the aim of providing health coverage for all This was followed by Law 1438, which took effect in January 2011

Current reform is focusing on overhauling the social security framework established under Ley 100 passed in 1993, including replacing employer welfare contributions with an additional tax on company profits and the creation of a single fund to handle the financial resources of the contributory health insurance scheme The medical device market is heavily reliant on imports, especially in the more high tech sectors There is some domestic capacity for more basic items In 2012, Colombia imported medical equipment & supplies valued at US$865 2mn A few multinationals manufacture in the country The medical device industry is concentrated around the capital Bogotá Within the capital, a free trade zone has encouraged international
companies to the market



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Table Of Contents

The Medical Device Market: Colombia
Espicom Industry View 7
Espicom Industry View 7
SWOT 9
Medical Device Market 9
Political 10
Economic 11
Business Environment 12
Industry Forecast 13
Medical Device Market Forecast 13
Past Performance 2008-2013 13
Future Performance 2013-2018 14
Table: Projected Medical Device Market, 2013-2018 15
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn) 16
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita) 21
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% Of Total) 24
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$mn, % Change) 27
Consumables Market Forecast 30
Table: Consumables Market, 2008-2018 (US$mn) 32
Table: Consumables Market, 2008-2018 (US$ Per Capita) 33
Table: Consumables Market, 2009-2018 (US$mn, % Change) 34
Diagnostic Imaging Market Forecast 36
Table: Diagnostic Imaging Market, 2008-2018 (US$mn) 37
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita) 38
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change) 39
Dental Products Market Forecast 41
Table: Dental Products Market, 2008-2018 (US$mn) 42
Table: Dental Products Market, 2008-2018 (US$ Per Capita) 43
Table: Dental Products Market, 2009-2018 (US$mn % Change) 44
Orthopaedics and Prosthetics Market Forecast 46
Table: Orthopaedics and Prosthetics Market, 2008-2018 (USmn) 47
Table: Orthopaedics and Prosthetics Market, 2008-2018 (US$ Per Capita) 48
Table: Orthopaedics and Prosthetics Market, 2009-2018 (US$mn, % Change) 48
Patient Aids Market Forecast 50
Table: Patient Aids Market, 2008-2018 (USmn) 51
Table: Patient Aids Market, 2008-2018 (US$ Per Capita) 52
Table: Patient Aids Market, 2009-2018 (US$mn, % Change) 52
Other Medical Devices Market Forecast 54
Table: Other Medical Devices Market, 2008-2018 (US$mn) 55
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita) 56
Table: Other Medical Devices Market, 2009-2018 (US$mn, % Change) 57
Annual Medical Device Imports 59

Table: Medical Device Imports By Product Area, 2008-2012 (US$000s) 62
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change) 63
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s) 64
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change) 65
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution) 67
Table: Leading Medical Device Suppliers By Product Area, 2012 (US$000s) 70
Table: Leading Medical Device Suppliers By Product Area, 2012 (% Distribution) 71
Table: Top 20 Medical Device Suppliers, 2012 (US$000s) 72
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s) 73
Table: Detailed Medical Device Import Trends By Product Area, 2012 76
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s) 80
Monthly Medical Device Imports 83
Table: Monthly Medical Device Imports By Product Area, August 2010 - August 2013 (US$mn) 83
Annual Medical Device Exports 85
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s) 87
Table: Medical Device Exports By Product Area, 2008-2012 (US$000s, % Change) 88
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s) 89
Table: Medical Device Exports By Product Area, 2008-2012 (Local Currency 000s, % Change) 90
Table: Medical Device Exports By Product Area, 2008-2012 (% Distribution) 92
Table: Leading Medical Device Destinations By Product Area, 2012 (US$000s) 93
Table: Leading Medical Device Destinations By Product Area, 2012 (% Distribution) 94
Table: Top 20 Medical Device Destinations, 2012 (US$000s) 96
Table: Detailed Medical Device Exports By Product Area, 2008-2012 (US$000s) 97
Table: Detailed Medical Device Export Trends By Product Area, 2012 100
Table: Detailed Leading Medical Device Destinations By Product Area, 2012 (US$000s) 104
Table: Detailed Medical Device Balance of Trade, 2008-2012 (US$000s) 107
Monthly Medical Device Exports 110
Table: Monthly Medical Device Exports By Product Area, August 2010 - August 2013 (US$mn) 110
Macroeconomic Forecasts 112
Economic Analysis 112
Table: COLOMBIA - ECONOMIC ACTIVITY 116
Industry Risk Reward Ratings 117
Industry Risk Reward Ratings 117
Table: Espicom Analysis Of The Medical Device Market, 2013 117
Market Overview 119
Medical Device Market Overview 119
Overview 119
Table: Medical Device Market, Key Ratios, 2013 120
The Market In 2013 120
Table: Medical Device Market By Product Area, 2013 121
Healthcare Overview 122
Healthcare System 122
Health Insurance 124
Table: Health Insurance Coverage By Type, 2012 125
Health Expenditure 127
Key Data 128

Table: Key Data, 2008-2013 128
Industry Trends And Developments 131
Industry Trends and Developments 131
Regulatory Development 134
Medical Device Regulations 134
Competent Authority 134
Regulations 134
Fees 136
Table: INVIMA's Medical Device Registration Fees, 2013 136
Technical Vigilance 136
Medical Device Pricing and Reimbursement 137
Pricing 137
Health Technology Assessment 137
Competitive Landscape 138
Domestic Medical Device Production 138
Table: Medical Device Production By Product Area, 2006-2010 (COP000s) 139
Table: Medical Device Production By Product Area, 2006-2010 (US$000s) 142
Table: Medical Device Production And Sales By Product Area, 2010 (COP000s) 144
Domestic Medical Device Manufacturing 146
Table: Medical Device Producers, 2006-2010 147
Table: Medical Device Producers By Size And Type, 2010 147
Table: Medical Device Producers By Department, 2010 148
National Medical Device Manufacturers 148
Detailed Manufacturers 148
Other Listed Manufacturers 151
Multinational Medical Device Manufacturers 152
Multinational Market Activity 155
Table: Multinational Market Activity, 2013 155
Medical Device Market Access 157
Market Environment 157
Distribution 157
Trade Association 157
Trade Shows 157
Trade Agreements 158
Methodology 159
Table: Used HS Trade Codes, 2013 160
Table: Rearranged HS Trade Codes, 2013 162

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