|[February 14, 2013]
Research and Markets: The Medical Device Market: Colombia 2013
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/2m8bkj/the_medical)
has announced the addition of the "The
Medical Device Market: Colombia" report to their offering.
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.
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
Ameican 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.
- Asepsis Products De Colombia 'Proasepsis'
- G Barco
- Odontomedica (Colombia)
For more information visit http://www.researchandmarkets.com/research/2m8bkj/the_medical
[ Back To Insurance Technology's Homepage ]