Recently published research from Espicom Business Intelligence, "The Medical Device Market: Peru", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 02/22/2013 --Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
With an estimated population of just 30.4 million in 2011, Peru is the fourth largest country in South America, behind Brazil, Colombia and Argentina. The country undertook a wide range of market reforms in the 1990s. This improved the economic situation, and Peru is now one of the world’s fastest growing economies. In addition it has investment grade ratings thanks to a wealth of natural resources which attract foreign investors. Despite this, Peru remains significantly poorer than Argentina, Brazil or Chile.

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Health services are predominantly provided in the public sector, although most facilities are severely under-funded. Around 8.1 million people are covered under ESSALUD, the main public insurance system, which operates its own hospitals and clinics. The private sector is small, advanced and based in Lima. A total of 15.9 million people were covered by some kind of health insurance in 2008.

On 1st February 2009, a Trade Promotion Agreement came into effect between Peru and the USA. This will significantly liberalise the trade in goods between the USA and Peru and address customs administration, technical barriers to trade and intellectual property issues. The USA was indeed lead trading partner for imports and exports in 2009. Also China, looking to source raw materials, signed an FTA in 2008 with Peru, including an accord on health.

At around US$264 in 2011, health expenditure per capita is low, and comparable to Central American countries such as Nicaragua or El Salvador. That said, the government has invested US$333 million to improve Peru’s health establishments, building 20 new hospitals in 2008 and one a month in 2009, as part of a wider goal of decentralising health services, to ensure health coverage for all.

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