According to a report published by Market Research Reports, the medical device market of Chile is forecasted to reach USD 1 billion by 2019. The market is expected to witness a CAGR of 7.8% over 2014-2019, driven by modernization of public hospitals. The dental products market is forecasted to grow at a CAGR of 6.4% and the orthopedics & prosthetics and other medical devices market is forecasted to grow at a CAGR of 8.4%. Although the Chilean medical device market is small but it is top-ranked in Latin America, in terms of per capita expenditure. The Chilean market is heavily dependent on imports as domestic production is very limited.
