Fast Market Research recommends "The Medical Device Market: Argentina" from Espicom Business Intelligence, now available
Boston, MA -- (SBWIRE) -- 04/04/2014 -- Espicom Industry View: The Argentine medical device market ranks fifth in Latin America . Espicom forecas ts a high 2013-2018 CAGR of 10.9 % in U S dollar terms, fuelled by increasing health expenditure . Medical device imports are very high , although a relatively large domestic medical device sector is operational . The country has recovered from a severe economic crisis in 2002 but has not resolved its long-standing macroeconomic imbalances, which will affect the medical device market in the long-term.
Headline Industry Forecasts
The Argentine medical device market is valued at US$692.1mn in 2013, ranking fifth in Latin America. Diagnostic imaging accounts for 28.0% of the total, followed by other medical devices (19.9%), consumables (17.5%), patient aids (17.4%), orthopaedics & prosthetics (13.1%) and dental products (4.2%). Prior to the economic crisis, Argentina had the highest medical expenditure per capita in Latin America, but it now lags behind Venezuela, Chile, Mexico, Brazil and Colombia, at US$16.7 in 2013. Espicom projects a 2013-2018 market CAGR of 10.9% in US dollar terms.
The market is dominated by medical device imports, primarily from the European Union, the USA and China, therefore the trade balance remains negative. Imports for the latest 12 months to May 2013 increased by 5.9% in US dollar terms over the previous 12 months to May 2012, reaching US$640.0mn. Diagnostic imaging grew the fastest at 11.7%, followed by consumables (10.1%), other medical devices (8.8%) and orthopaedics & prosthetics (2.2%). Dental products fell by 4.0%, followed by patient aids (-3.5%).
Medical device exports for the latest 12 months to May 2013 fell by 25.4% in US dollar terms over the previous 12 months to May 2012, to US$79.4mn.
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