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 2019.
This position is product of the dynamism of the sector in Colombia. This segment has presented average annual growth rates between 2008 and 2016 of 12,7% in local currency (COP) and of 6,9% in USD. In Colombia, the medical device sector presents strong reliance on imports, these represent 84% of the total sales. This is one of the reasons that lay up great opportunities for local production, in order to gain competitiveness in strong variations cycles of the exchange rate.
Bogotá represents 75% of the sales. The city offers several advantages for producers, this is demonstrated with the concentration of manufacturers in Bogotá, 50% of them locates in the capital.
Medical device market
- High potential for imports substitution.
- Establishment of regional logistic hubs, making the most of the geographic advantages and commercial agreements of the city and the country. (Extended market: 1.450 billion people and USD 44 trillion)
- Production of raw materials for articles with different ranges of technological sophistication.
If you need more detailed information, find in the lower part the information of our investment officers in charge of this sector.
Actualizado (dd/mm/aaaa): 22/02/2018