Posts tagged Colombia
The Large Market For Medical Devices In Colombia May Surprise You
The Large Market For Medical Devices In Colombia May Surprise You

This article discusses why Colombia, despite the global effects of the COVID-19 pandemic, has become the country with the best commercial advantages in South America and one of the three best in Latin America for foreign medical device manufacturers to market their innovations. We will cover the general Colombian health social security system (coverage, affiliation, and forms of financing); the current medical device regulatory framework, including the short marketing authorization times compared to other countries in the area, and the size and trends of the market.

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Market AccessJulio G. Martinez-ClarkColombia, INVIMAComment
What Medtech Companies Need to Know About Colombia's Growing Medical Device Market
What Medtech Companies Need to Know About Colombia's Growing Medical Device Market

Colombia has successfully positioned itself as the third largest medical devices market in Latin America, after Brazil, and Mexico. Business Monitor International forecasts indicate that Colombia is projected to stay in this rank for 2022. This is the product of the dynamism of the medical device sector in Colombia. This segment has presented average annual growth rates between 2014 and 2017 of 18% in local currency (COP) and of 7,9% in USD. The capital city, Bogota, D.C., represents 75% of total sales of medical devices in the country. 

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Market AccessJulio G. Martinez-ClarkColombia, medical device marketComment