8 LatAm Growth Markets for Medical Equipment in 2018
For decades, it’s been a challenge to track market changes for medical equipment and devices in Latin America. Companies targeting the region relied on their sales teams, but this can be an imperfect solution because it’s hard for sales teams to know exactly what’s happening in every single hospital in terms of its demand for medical equipment, buying patterns, current counts, etc.
Getting a handle on this is a big job—one that Global Health Intelligence took on in 2015 as we began to gather and track 130 data points for each hospital in HospiScope, our Latin American hospitals database. This included medical equipment and devices, of course.
And now, below we share some specific numbers that suggest the key growth markets for medical equipment/devices in Latin America in 2018. These reflect figures from 2017, showing the change between 2016 and 2017 levels—and giving medical equipment brands a very basic idea as to where to expect growth in 2018 in Latin America.
Besides reviewing this figures, be sure to check out the medical equipment import data from our ShareScope service: we reported on this for Argentina, Brazil, Chile, Colombia, Mexico and Peru. That data—plus the installed base equipment information below—should give you a better handle on the growth spots.
HospiScope is showing that Argentine hospitals have increased their base installed equipment in a number of medical equipment categories, including:
• 47% growth in PACS in Argentina’s hospitals in 2017
• A 26% uptick in fluoroscopes in Argentina’s hospitals in 2017
• A 21% increase in bone densitometers in Argentina’s hospitals in 2017
Latin America’s largest medical equipment market has shown some recent growth after its economic downturn. Here are a few potential equipment categories to target:
• A 14% increase in nuclear medicine systems-positron emission tomography in Brazil’s hospitals in 2017
• 9% growth in MRI machines in Brazil’s hospitals in 2017
• A 7% uptick in CT scanners in Brazil’s hospitals in 2017
Here are some equipment categories in Mexico that are showing growth in the past year:
• 24% growth in MRI machines in Mexico’s hospitals in 2017
• A 16% increase in hemodialysis machines in Mexico’s hospitals in 2017
• A 10% uptick in X-ray machines in Mexico’s hospitals in 2017
Hospitals in Chile also posted growth in various categories of installed base equipment in 2017, among them:
• An uptick of 12% in anesthesia machines in Chilean hospitals in 2017
• An increase of 10% in endoscopy machines in hospitals in Chile in 2017
• A growth of 20% in MRI equipment in Chile’s hospitals in 2017
Like other Latin American markets, Panama has followed suit with substantial growth in many medical device and equipment categories, including the following:
• 21% growth in electrocardiogram machines in Panamanian hospitals in 2017
• A 12% uptick in infusion pumps in Panama’s hospitals in 2017
• A 38% increase in CT scanners in Panama’s hospitals in 2017
• A 27% upsurge in anesthesia machines in Panamanian hospitals in 2017
Medical device and equipment sales representatives who are interested in targeting Peru would do well to examine the following categories, among many others:
• A 25% increase in anesthesia machines in Peru’s hospitals in 2017
• 23% growth in endoscopy towers in Peru’s hospitals in 2017
• An 11% uptick in infusion pumps in Peru’s hospitals in 2017
Guatemala also showed substantial growth in several device and equipment categories, including the following:
• A 48% increase in C-Arms in Guatemala’s hospitals in 2017
• 18% growth in ultrasound machines in Guatemala’s hospitals in 2017
• A 30% upsurge in echocardiograms in Guatemala’s hospitals in 2017
#8 Costa Rica
For Costa Rica, HospiScope showed the following categories may be potential equipment areas to target:
• 57% growth in EEG machines in Costa Rica’s hospitals in 2017
• A 50% increase in angiograms in Costa Rica’s hospitals in 2017
• A 24% uptick in endoscopy machines in Costa Rica’s hospitals in 2017
There’s More, By the Way
Of course, the data you’re seeing for these hospitals is just a brief sample of all the growth in installed based equipment in Latin American hospitals during 2017.
HospiScope figures show growth in several other categories for each of these countries. To get at that data—and use it to spike your sales—a subscription to HospiScope could be helpful. As a subscriber, you’ll be able to see equipment counts in detail for specific hospitals in different markets to identify sales opportunities. More importantly, HospiScope allows you to get crucial contact information for these hospitals if you don’t have it already, so you can reach out and try to help these hospitals with their specific needs.
And while you look at specific numbers, it’s also helpful to get a bigger picture from ShareScope. This is GHI’s service to calculate market size/share for medical equipment manufacturers in specific categories, and it allows you to see how your firm stacks up against key competitors.
To go even further and get answers to tough questions about pricing, cost analysis, best practices, positioning—as well as obtain competitive intelligence about your rivals—explore GHI’s In-Scope service.
Contact GHI today to find out more about how these options can help you power up your sales pipeline while counteracting the competition.