2013-09-08 11:08:57 - New Medical Devices market report from Espicom Business Intelligence: "The Medical Device Market: Chile"
OVERVIEW OF THE MEDICAL MARKET IN CHILE
Chile is situated on the Pacific Coast of South America and borders Peru, Bolivia and Argentina. It covers an area of 756,626 Km2.Administratively, the country is divided into 15 regions; Aisen del General Carlos Ibanez del Campo, Antofagasta, Araucania, Arica y Parinacota, Atacama, Biobio, Coquimbo, Libertador General Bernardo O'Higgins, Los Lagos, Los Rios, Magallanes y de la Antartica Chilena, Maule, Region Metropolitana (Santiago de Chile), Tarapaca and Valparaiso. The capital is Santiago de Chile.
The President, elected by popular vote for a single four-year term, is both the head of state and head of the government. With the return of former President Michelle Bachelet as its standard bearer, BMI believes that the Concertacion Coalition is
likely to win Chile's presidential election in November 2013, paving the way for a return of a centre-left government. Income distribution and education are expected to feature prominently throughout the election campaign. Sebastian Pinera, from the centre-right Cambio Coalition, has been the President since March 2010. He won the presidential run-off election in January 2010, following the election in December 2009, ending a 20-year period ruled by the centre-left Concertacion
Coalition. BMI expects Sebastian Pinera's chronically low approval ratings to persist, as unrest from the student movement, a weakening economy and rising unemployment will keep the President and his coalition unpopular.
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Chile is one of Latin America's better economic performers, although its overall economy is small. GDP per capita is the highest in Latin America. According to BMI, real GDP growth is forecast to fall to 4.3% in 2013, with GDP reaching US$290.6bn, equal to US$16,534 per capita. BMI believes that this slowdown in growth is attributable to decelerating economic activity in China, which over the next several years will result in weakening real demand for Chilean copper exports and reduced investment into the country's mining sector. GDP is expected to rise to US$397.5bn by 2018, equal to US$21,739 per capita. Chile has generally avoided regional full membership in trading blocs such as MERCOSUR or CAN, preferring bilateral agreements such as its Free Trade Agreement (FTA) with the USA.
As in much of Latin America, healthcare provision is a complex mixture of public, private and social insurance, although the current government is implementing plans aimed at creating a more efficient public system. Chile has a relatively well-developed system of private health insurance (Isapres). In January 2013, the Senate's Health Commission approved a draft bill that reforms Isapres, including the creation of a Guaranteed Health Plan and a Health PCI. In the same month, the Chamber of Duputies approved the draft bill, but excluded these two main legal components.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market
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The Medical Device Market Canada
The Medical Device Market Colombia
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