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.

#1 Argentina

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

#2 Brazil

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

#3 Mexico

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

#4 Chile

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

#5 Panama

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

#6 Peru

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

#7 Guatemala

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.

 

As part of our tracking of the medical device/equipment market in Latin America, Global Health Intelligence (GHI) has focused on predicting what 2018 will hold for the industry. Here’s a look at those predictions—and the data that’s fueling them.

Brazil Will Bounce Back

According to projections from the International Monetary Fund (IMF), the Brazilian economy posted a meager growth of 0.7% in 2017. However, 2018 appears poised to paint a better, more robust picture. Economic growth is projected to more than double and reach 1.5%.

As part of this, GHI anticipates that medical equipment and device sales in Brazil will surge in 2018 compared to current levels. One major reason for this projection is due to increasing import levels. As we reported not long ago, as per ShareScope—GHI’s service to analyze import data and market share/size for medical equipment brands—the forecasted value of medical equipment/devices imported into Brazil in 2017 went up 15%. This is significant for the marketplace, because generally speaking, import numbers are a direct proxy to sales, given that equipment is imported with the objective of being sold.

In addition, based on extrapolations from HospiScope — GHI’s LatAm hospitals database —figures are also pointing toward a strong 2018 in Brazil. This includes increases in installed base equipment between 2016 and 2017 in Brazil, such as:

• A 34% increase in electrocardiogram machines in Brazil’s hospitals in 2017
• 14% growth in nuclear medicine systems-positron emission tomography in Brazil’s hospitals in 2017
• A 10% uptick in endoscopy machines in Brazil’s hospitals in 2017
• A 4% increase in X ray machines in Brazil’s hospitals in 2017

Mexico Makes Its Mark

Like Brazil, Mexico has experienced volatility in recent years when it comes to both overall economic and healthcare sector growth. GDP growth in Mexico has remained fairly flat in recent years, with 1.3% growth in 2013 to 2.3% in 2014, 2.5% in 2015 and 2.3% in 2016 (Source: INEGI). In October 2017 the IMF forecasted GDP growth to be 1.9% for Mexico in 2018.

Not surprisingly, the country’s recent economic difficulties have affected the medical device market in Mexico. ShareScope data analysis indicates that after solid growth in import values and quantity in 2015 and 2016, there will be a forecast drop of 19% in 2017 (final figures not yet available).

However, the news isn’t all bad in Mexico. The sexenio, the common word for the six-year term limit placed on the Mexican president, is up in 2018, and many are projecting that healthcare spending could rise with the election of a new president. While HospiScope data indicates that 60% of the hospitals in Mexico are private, the rest are public. This becomes significant in terms of spending because public hospitals in Mexico have a much higher bed count than private hospitals—roughly 90 beds per hospital versus 15 per hospital in the case of private hospitals. As such, public hospitals in Mexico account for approximately 80% of the hospital beds in the country. With the new administration in place, public spending on healthcare could increase.

In addition, GHI’s HospiScope has been tracking increases in installed base of capital equipment in Mexican hospitals between 2016 and 2017, including:

• A 12% increase in newborn cribs in Mexico’s hospitals in 2017
• A 10% increase in x-ray machines in Mexico’s hospitals in 2017
• A 5% increase in endoscopy towers in Mexico’s hospitals in 2017
• An 8% increase in ultrasound machines in Mexico’s hospitals in 2017
• A 20% increase in PACS in Mexico’s hospitals in 2017

Smaller Markets Surge

The big players of Brazil and Mexico aren’t the only countries that GHI expects good fortune from in 2018. Smaller markets like Chile, Peru, Guatemala and Costa Rica should become increasingly important players in the medical equipment markets, as well. Here are just a few areas where these countries are showing increases in installed base of capital equipment between 2016 and 2017:

Chile

• A 9% growth in radiotherapy equipment in Chile’s hospitals in 2017
• A 34% increase in stereotactic mammography machines in Chile’s hospitals in 2017
• A 10% upsurge in CT scanners in Chile’s hospitals in 2017

Peru

• An 18% growth in nuclear medicine systems-positron emission tomography in Peru’s hospitals in 2017
• A 27% increase in ultrasound machines in Peru’s hospitals in 2017
• A 24% uptick in ventilators in Peru’s hospitals in 2017

Guatemala

• A 134% increase in PACS in Guatemala’s hospitals in 2017
• A 73% upsurge in CT scanners in Guatemala’s hospitals in 2017
• A 67% uptick in infusion pumps in Guatemala’s hospitals in 2017

Costa Rica

• A 48% increase in anesthesia machines in Costa Rica’s hospitals in 2017
• A 49% increase in endoscopy towers in Costa Rica’s hospitals in 2017
• A 42% uptick in laparoscopic surgery equipment in Costa Rica’s hospitals in 2017

Private Healthcare Continues to Increase

One of the major trends that GHI projects for 2018 and beyond is a growing customer base for private medical services. Increasingly, the middle class is complementing their public health coverage with a private option, so much so in fact that Latin America’s health insurance companies have the most rapid level of growth in the world, with 30% growth each year projected through 2025, as per McKinsey and Company.

With these changes also come opportunities to serve working-class individuals who feel the financial squeeze. Increasingly, specialized outpatient low-cost institutions are becoming part of the LatAm private health care system. In fact, a recent article by the Oxford Business Group noted that the public and private sectors of the healthcare system in Mexico are increasingly coming together and cooperating in order to better serve all of Mexico’s patients.

As new facilities become a part of this rapidly changing healthcare environment, GHI will keep you up-to-date on the device and equipment needs of any new facilities that form as a result, as well as the evolution of the competitive landscape surrounding insurance and offering.

Penetration of Low-Cost Products

It is no surprise that Latin American healthcare budgets are tight and will continue to be tight heading into 2018. Naturally, this means that LatAm hospitals will continue to be attracted to lower-priced alternatives.

An interesting development is that Asian markets have begun to form partnerships with Latin American healthcare systems. Both China and Korea, for example, have formed steadily growing partnerships with the region, thus increasing the flow of goods between the regions. If you’re a medical device or equipment manufacturer or distributor with an interest in Latin America, this is certainly a trend that’s worth keeping an eye on.

NEXT STEPS
Contact GHI to find out more about how you can use HospiScope to take advantage of the recent growth in installed base equipment in LatAm hospitals, ShareScope to know your company’s market share with different types of equipment—plus those of your competition—and In-Scope for competitive intelligence and custom research to drive key business decisions.