New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 09/17/2013 -- OVERVIEW OF THE MEDICAL MARKET IN PERU
In terms of trade, the United States - Peru Trade Promotion Agreement (PTPA) was enforced in February 2009; it was ratified by the United States in December 2007 and Peru in June 2006, and signed between both countries in April 2006. The PTPA eliminates tariffs and removes barriers to US services, provides a secure legal framework for investors, and strengthens protection for intellectual property. Also, Peru is a member of the Andean Community of Nations (CAN - Comunidad Andina), a South American trade bloc founded in 1969, with its headquarters located in Lima. Other CAN members are Bolivia, Ecuador and Colombia. CAN and the Common Market of the South (MERCOSUR - Mercado Comun del Sur), another South American trade bloc, have been working towards forming the Union of South American Nations (UNASUR - Union de Naciones Suramericanas), a South American equivalent to the European Union. In March 2011, UNASUR became a legal entity. The UNASUR members include CAN, MERCOSUR and other South American members.
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The medical device market is one of the smallest in Latin America, and per capita consumption is low by regional standards. Decent levels of spending can be found in Lima but provision in the rest of the country is far less. Peru produces very little medical equipment, so the vast majority of the market is supplied by imports. In 2013, the market is estimated at US$321.6mn, equal to US$10.7 per capita. Other medical products account for 28.2% of the total, followed by diagnostic imaging apparatus (28.1%), consumables (22.7%), patient aids (7.6%), dental products (7.0%) and orthopaedic & prosthetic products (6.3%). The
2013-2018 CAGR for the medical device market is projected at 11.7% in US dollar terms. Peru has very little domestic manufacturing, and few multinationals have plants there. Medical device exports are negligible. Between 2002 and 2012, medical exports in both US dollar and local terms fell in 2004, 2005 and 2006. Since then, medical exports have experienced a period of sustained growth. In 2012, medical exports were valued at US$10.5mn, which represented a rise of 22.7% in US dollar terms over 2011. Consumables accounted for over half of medical device exports. The 2007-2012 CAGR in US dollar
terms was high, at 22.8%.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
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