Costa Rica progressing to the leading position of innovation in life science industry in the Latin America

science-industryThe consolidated cluster of medical devices and the increasing research and development activities in Costa Rica are taking the country to a much better position in the life science industry in the Latin American region. The facts supporting this growth include, in 2015, Costa Rica exported medical devices worth USD 2.2 billion and in 2016 the export is projected to reach USD 2.5 billion. Presently, medical devices are the main industrial export product of the country, which ranks as the first exporter per capita in Latin America. Moreover, 6 of the 10 of the world’s largest cardiovascular devices companies have production facilities in Costa Rica. Jorge Sequeira, the Managing Director of the Costa Rican Investment Promotion Agency (CINDE) stated at Life Sciences Forum that the event evidences the progress and good positioning of Costa Rica in the field of life sciences. Costa Rica has become the second largest medical devices exporter in Latin America. The future of the industry is convergence, everyone is innovating and Costa Rica can take advantage of this trend.

 

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