Colombia has positioned itself as the third largest medical device market in Latin America, after Brazil and Mexico, a position ratified to be maintained according to Business Monitor International’s forecasts for 2024.
This ranking is due to the dynamism of this segment in Colombia, which has an estimated average annual growth rate (CAGR) between 2020 and 2025 of 7.1% in USD. In Colombia, this market is highly dependent on imports, which account for 83% of total sales. This is one of the reasons why local production presents an opportunity to be more competitive in the face of exchange rate variations.
Bogota accounts for more than 75% of sales. The city offers advantages for producers, as evidenced by the concentration of 50% of the manufacturing companies in this sector in the capital.
If you need more detailed information, find in the lower part the information of our investment officers in charge of this sector.
Updated (dd/mm/aaaa): 26/12/2022
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