Medical Devices

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Colombia has successfully positioned itself as the third largest medical devices market in Latin America, after Brazil, and Mexico. Business Monitor International forecasts indicate that Colombia is projected to stay in this rank for 2022.

This position is the product of the dynamism of the sector in Colombia. This segment has presented average annual growth rates between 2014 and 2017 of 18% in local currency (COP) and of 7,9% in USD. In Colombia, the medical device sector presents a strong reliance on imports, these represent 84% of the total sales. This is one of the reasons that bring up great opportunities for local production, in order to gain competitiveness in strong variations cycles of the exchange rate.

Bogota represents 75% of the sales. The city offers several advantages for producers, this is demonstrated with the concentration of manufacturers in Bogota, 50% of them locates in the capital.