Key Growth Opportunities for Medical Devices and Equipment
Latin America’s medical equipment, device and consumables market is worth an estimated US$ 29 billion in 2016f. Imports account for 85%-90% of this market, with limited production for the local market in Brazil, Mexico, Argentina and Costa Rica. As a result, the market has a high exposure to currency fluctuations and lost significant purchasing power due to foreign exchange rate devaluations across the region in 2015 and 2016. In 2015, imports of medical capital equipment contracted slightly from US$ 5.2 billion to US$ 5.1 billion year-over-year (YoY).
As players absorb currency drops, distributors are forced to squeeze margins in order to maintain volumes. Despite stagnant numbers, there are still a number of profitable product classes in response to the region’s aging population and the rise of non-communicable diseases (NCDs).
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