2013-02-15 16:03:11 - New Medical Devices market report from Espicom Business Intelligence: "The Medical Device Market: Colombia"
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Colombia is the third largest country
in Latin America, behind Brazil and Mexico with a population of 48 million. The capital, Santa Fe de Bogotá, has a population of around 7 million. The population is relatively young and growing rapidly thanks to a high birth rate and a low mortality rate.
Full Report Details at
- www.fastmr.com/prod/538035_the_medical_device_market_colombia.as ..
Colombia has a reputation for political instability and lawlessness in more remote areas. President Juan Manuel Santos, who came to power in 2010, has marginalised the left-wing Farc guerrillas and improved relations with Venezuela and Ecuador, Colombia’s geographical neighbours. However other criminal groups have subsequently taken over drug trafficking from the paramilitaries. Foreign investors are attracted by Colombia’s natural resources and more stable political environment. Colombia does remain one of South America’s poorer countries though, having more in common with its Andean and Central American neighbours than the more developed Mercosur economies.
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 2012, GDP is forecast to reach US$372.6 billion, equivalent to around US$7,740 per capita. Economic growth remains well above average for the Latin American region with GDP forecast to rise 4.6% in real terms during 2012.
Colombia has universal health insurance as a goal and currently has around 80% of the population covered. Allowing insurers to compete for clients creates competition between insurers and healthcare providers.
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$516.8 in 2011, whilst expenditure on medical equipment is only around US$23 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.
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 2011, Colombia imported medical equipment & supplies valued at US$799.3 million, their highest ever level. A few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogotá. Within the capital, a free trade zone has encouraged international companies to the market.
Colombia ratified a Free Trade Agreement with the USA in October 2011, promoting trade between the two nations, five years after it was originally signed by George W. Bush.
Partial Table of Contents:
Key Background Data
Universal Health Insurance
Emergency Social Plan
Law 1438 of 2011
Inter-American Development Bank projects
Marke t De vel opments
Cabinet Reshuffle Sees Appointment of New Health Minister
Medical Device Imports Continue to See Steady Growth
Colombia Set to Enter World’s Top 30 Medical Device Markets
Me dical Marke t Analysis
The Market in 2012
Past Performance 2007-11
Future Performance 2012-17
The Colombian Market for Consumables
The Colombian Market for Diagnostic Imaging
The Colombian Market for Dental Products
The Colombian Market for Orthopaedic & Prosthetic Products
The Colombian Market for Patient Aids
The Colombian Market for Other Medical Devices
Orthopaedic & Prosthetic Products
Orthopaedic & Prosthetic Products
Domes tic Production
Domes tic Manufacturing
Adhesivos Internacionales / Adhinter
CI Dental X-ray
Industrias Medicas Sampedro
Industrias Metalicas Los Pinos
Access ing the Marke t
Me dical De vice Re gulations
Methodology & Sources
Trade Code Classifications
List of Tables
Espicom Analysis of the Colombian Medical Market, 2012
Summary of Key Data Projections, 2012-17
Bodies within the Healthcare Sector, February 2010
Entities within the Ministry of Social Protection, 2004
Summary of Key Data, 2006-11
Colombian Medical Device Market, Key Ratios, 2012
Colombian Medical Device Market by Category, 2012
Projected Medical Device Market, 2012-17
The Colombian Medical Device Market, 2007-17 (US$ millions)
Full Table of Contents is available at:
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