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Successfully Accessing Medical Equipment Markets In CIVETS

COLOMBIA With a population set to reach 50 million by 2015, Colombia is currently the third largest country in Latin America, behind Brazil and Mexico. Despite ongoing unrest around drug trafficking, foreign investors are attracted by Colombia's natural resources and generally more stable political environment. GDP in 2010 grew to US$288.7 billion and should reach US$329.7 billion in 2011. The Colombian medical device market is heavily reliant on imports, especially in the more high tech sectors. There is some domestic capacity for more basic items and a few multinationals manufacture in the country. The medical device industry is concentrated around the capital Bogota, and within the capital a free trade zone has encouraged international companies to the market.

VIETNAM In 2011, the Vietnamese market for medical equipment and supplies was estimated at US$599 million, or US$7 per capita. It is expected that the device market will continue to expand strongly at 15.2% per annum. This will take the Vietnamese market to around US$1.2 billion in 2016, although the per capita rate will remain low. According to the latest data, an estimated 61.3% of healthcare expenditure is private. An estimated 90.7% of the Vietnamese medical device market is supplied by imports, and the sector is growing rapidly. Singapore, Japan and China are the leading suppliers, accounting for 45.6% of imports in 2009. Local production is limited to basic items. The value of exports has been growing fast, as overseas companies, mainly Japanese, use the country as a manufacturing base.

TURKEY The government has placed an emphasis on developing its healthcare system, with the goal of establishing a Universal Healthcare System by 2013 as part of its ongoing reforms for the healthcare sector. The prospects for the medical device market in Turkey remain good; buoyed by strong import growth trends, which the country relies heavily on, and the expansion of healthcare facilities coupled with rising health expenditure should see the market grow at an attractive rate of 7.4% in the 2011-2016 period. The market is currently the largest in the region, and is among the top 30 in the world.

SOUTH AFRICA The medium-term prospects for the medical device industry looks encouraging; based on current trends, the South Africa medical device market, of which over 90% is supplied by imports, is expected to grow at a CAGR of 1.3% from 2011-2016. A key driver of growth is expected to be the public-private partnerships to develop hospitals in South Africa but this could be tempered slightly, by a depreciating rand against the US dollar and the general state of the South African economy. The AIDS situation is dire in South Africa. According to projections from the EIU, the population of South Africa will start to decline from 2011, not normal for a country which has a relatively low elderly demographic (estimated 5.7% of the total population in 2011) and one of the highest birth rates in the world

Use these quarterly-updated original and insightful reports to...

Assess future market values with our unique and regularly reviewed independent 5-year market forecasts.Critically appraise risk and opportunity with our market SWOT analysis.Understand the critical issues and drivers which are shaping the market.Evaluate the environment for domestic production and trade.Shape and support business plans and decisions with reliable business data.Benchmark key market performance with Espicom's standardised data.About this report: The market analysis in this report series is taken from Espicom's Medical Market Outlook Reports which examine in detail 67 developed and emerging markets.

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