2014-03-21 18:35:02 - The Medical Device Market: Venezuela - a new market research report on companiesandmarkets.com
Our 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.
The volatile Venezuelan market for medical
equipment & supplies is almost entirely supplied by imported products, principally from the USA. The level of per capita spending is comparable to that in Colombia or much of Central America, but is below that found in the richer Latin American markets of Mexico and Brazil. Expenditure is heavily concentrated in Caracas and other major urban areas. The best opportunities are in the advanced private sector and the Barrio Adentro-related public sector, which was relaunched in October 2009.
Venezuela relies on petroleum prices, which can be unpredictable and this has been compounded with the global recession, real GDP fell in 2009-10. However, the economy is predicted to grow at a rate of 1.6-4.7% from 2012-17. On the other hand, inflation is among the highest in the world. From 29.6% in 2010, it was expected to hit a record of 40.3% in 2011.
Venezuela is the third leading importer of medical equipment & supplies within Latin America, behind Mexico and Brazil. Hospital modernisation in the public and private sectors has brought imports to record levels, particularly via the implementation of Barrio Adentro in the public sector.
Imports have seen a large increase since March 2011 to an unprecedented level, after experiencing a slump around January 2010. The total for the 12 months to December 2011 was US$1.9 billion, a 122.1% increase on the previous 12 months.
Venezuela joined the South American trading block MERCOSUR in 2006, however its full membership was blocked by Paraguay. In June 2012, Venezuelas full ratification was finally announced. Venezuela is also member of the newer South American trading bloc, the Union of the South American Nations, UNASUR. UNASUR became a legal entity in March 2011 and is headquartered in Ecuador.
In January 2010, the bolivar was devalued for the first time since 2005, with a two-tier exchange system for priority imports which included medical devices and the remainder of goods, at 2.6 and 4.3 bolivars to US$ respectively. The President said that the two official rates would limit imports that are not strictly necessary and stimulate export policy. The lower exchange rate was abolished in January 2011, leaving all goods at the rate of 4.3 bolivars.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Our 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 our unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market
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