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.
Successfully Accessing Medical Equipment Markets In CIVETS
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