SOURCE: MarketResearch.com

MarketResearch.com

September 13, 2011 08:08 ET

Medical Devices Market in Latin America to Reach $9.2 Billion by 2013

ROCKVILLE, MD--(Marketwire - Sep 13, 2011) - MarketResearch.com has announced the addition of the new market intelligence report "The Outlook for Medical Devices in Latin America" to their collection of Medical Devices market research. For more information, visit http://www.marketresearch.com/Espicom-Healthcare-Intelligence-v1129/Outlook-Medical-Devices-Latin-America-6418327/

The eight Latin American medical markets are expected to grow by a CAGR of 4.6% between 2008 and 2013, reaching US$9.2 billion. Each country report provides a comprehensive analysis of the medical market, including five-year market forecasts. For each country you will receive 4 completely updated reports sent quarterly, plus a comprehensive report sent annually.

The market includes 474 million people with a GDP of US$3.4 trillion in 2008. The region is better prepared to face global instability than in the past but economic growth is expected to slow down in 2009 and 2010, after a recent period of remarkable growth. The region is now seeing all markets re-evaluate their health provision. Levels of service in the buoyant private health sector are among the best to be found, but the challenge is provide better levels of basic healthcare to the mass of the population. Opportunities for manufacturers of medical equipment and supplies do exist, but it is knowing where and how to develop them. Brazil is the largest medical market, followed by Mexico, Argentina and Colombia. Cuba, however, has the highest level of medical spending per capita in the region, but this is mostly for the purposes of 'health tourism,' not the benefit of the local population.

With the exception of Brazil and Mexico, the medical regulatory environment in the region is less stable that in developed markets. These young markets have not matured yet, therefore their regulatory systems are being consolidated. Brazil and Mexico, however, have more complex and mature regulatory systems. MERCOSUR members tend to follow the medical regulation established by Brazil, and there is some degree of regulatory harmonization among them. Andean members such as Colombia are also modeling Brazil's medical regulation. Mexico operates closer to its North American allies, and follows the US' FDA regulation.

Trade in medical devices and equipment is key to the region's development with all markets dependent on imports, with the exception of Brazil, which has a strong local domestic industry. Brazil, Argentina and Chile import more high specification medical technology products, whilst Peru, Mexico and Venezuela import more consumables. Regional medical exports are low, with the exception of Mexico, which represents nearly 90% of the region's export capabilities. Continuing strong export growth in the country is almost entirely due to US manufacturers' 'maquiladora' activities. Almost all of Mexico's medical exports are shipped across the border to the USA. Brazil's exports are low compared to the size of its medical market, but exports of dental devices and implantables have been on the rise in recent years. The deficit in the balance of trade is negligible for the region, due to the weight of Mexico's exports

For more information, visit http://www.marketresearch.com/Espicom-Healthcare-Intelligence-v1129/Outlook-Medical-Devices-Latin-America-6418327/

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