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The Medical Device Market: Venezuela

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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.The volatile Venezuelan market for medical equipment & supplies is almost entirely supplied by imported products, principally from the USA. The level of per capita spending is comparable to that in Colombia or much of Central America, but is below that found in the richer Latin American markets of Mexico and Brazil. Expenditure is heavily concentrated in Caracas and other major urban areas. The best opportunities are in the advanced private sector and the Barrio Adentrorelated public sector, which was relaunched in October 2009.The economic outlook is difficult in the short term, the country relies on petroleum prices, which can be unpredictable, together with the effects of the global meltdown. Real GDP is expected to fall by 6.7% in 2010, but recover to 2.9% in 2012. Inflation is among the highest in the world. From 29.6% in 2010, it is expected to hit a record of 40.3% in 2011.The orthopaedics sector represents 20.8% of the medical market in 2010, followed by the diagnostic imaging sector (20.2%), and the consumables sector (18.7%). The consumables sector and the small dental sector are expected to experience negative growth rates in the next five years, whilst orthopaedics will grow at a healthy rate.In January 2010 the bolivar was devalued for the first time since 2005, by 17% for priority items and by 50% for non essential items in dollar terms. This sparked panic buying amongst Venezuelans. However, food, health care imports and the public sector will be able to take advantage of the lower of these two exchange rates. The President said that the two official rates would limit imports that are not strictly necessary and stimulate export policy.The exchange rate was fixed at 2.15 bolivars to the US$ from 2005 to 2009. In 2010, this changed to 2.6 bolivars for priority imports, or 4.3 bolivars for other items. Priority imports include medical devices, medicines, food and some capital goods used to manufacture other goods. The priority and non-priority list of goods will be reviewed each year. Espicom's medical market projections assume that the current exchange rate of 2.6 bolivars to the US$ for medical devices will remain for the next five years.At regional levels, Venezuela is the third leading importer of medical equipment & supplies. Hospital modernisation in the public and private sectors has brought imports to record levels, particularly via the implementation of Barrio Adentro in the public sector. Imports rose by a 2004-2008 CAGR of 57.2%. Imports of orthopaedic products experienced the highest rise, with a 2004-2008 CAGR of 142.8%.Over 100 importers, distributors, agents and subsidiaries of multinational producers are members of the Venezuelan Association of Medical, Dental & Laboratory Distributors (AVEDEM ' Asociaci

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The Medical Device Market: Venezuela

  1. 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!The Medical Device Market: VenezuelaPublished on October 2010 Report SummaryEspicoms in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical marketsand have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-yearmarket forecasts, national data projections, market outlook and key developments such as regulation, health facilities and governmentpolicy. 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 essentialindustry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with marketdevelopments for a year.The volatile Venezuelan market for medical equipment & supplies is almost entirely supplied by imported products, principally fromthe USA. The level of per capita spending is comparable to that in Colombia or much of Central America, but is below that found inthe richer Latin American markets of Mexico and Brazil. Expenditure is heavily concentrated in Caracas and other major urban areas.The best opportunities are in the advanced private sector and the Barrio Adentrorelated public sector, which was relaunched inOctober 2009.The economic outlook is difficult in the short term, the country relies on petroleum prices, which can be unpredictable, together withthe effects of the global meltdown. Real GDP is expected to fall by 6.7% in 2010, but recover to 2.9% in 2012. Inflation is among thehighest in the world. From 29.6% in 2010, it is expected to hit a record of 40.3% in 2011.The orthopaedics sector represents 20.8% of the medical market in 2010, followed by the diagnostic imaging sector (20.2%), and theconsumables sector (18.7%). The consumables sector and the small dental sector are expected to experience negative growth ratesin the next five years, whilst orthopaedics will grow at a healthy rate.In January 2010 the bolivar was devalued for the first time since 2005, by 17% for priority items and by 50% for non essential items indollar terms. This sparked panic buying amongst Venezuelans. However, food, health care imports and the public sector will be ableto take advantage of the lower of these two exchange rates. The President said that the two official rates would limit imports that arenot strictly necessary and stimulate export policy.The exchange rate was fixed at 2.15 bolivars to the US$ from 2005 to 2009. In 2010, this changed to 2.6 bolivars for priority imports,or 4.3 bolivars for other items. Priority imports include medical devices, medicines, food and some capital goods used to manufactureother goods. The priority and non-priority list of goods will be reviewed each year. Espicoms medical market projections assume thatthe current exchange rate of 2.6 bolivars to the US$ for medical devices will remain for the next five years.At regional levels, Venezuela is the third leading importer of medical equipment & supplies. Hospital modernisation in the public andprivate sectors has brought imports to record levels, particularly via the implementation of Barrio Adentro in the public sector. Importsrose by a 2004-2008 CAGR of 57.2%. Imports of orthopaedic products experienced the highest rise, with a 2004-2008 CAGR of142.8%.Over 100 importers, distributors, agents and subsidiaries of multinational producers are members of the Venezuelan Association ofMedical, Dental & Laboratory Distributors (AVEDEM Asociación Venezolana de Distribuidores de Equipos Médicos, Odontológicos,de Laboratorios y Afines). There are at least 35 other non-affiliated firms supplying the industry. Most of them offer closelyThe Medical Device Market: Venezuela Page 1/7
  2. 2. Find Industry reports, Company profilesReportLinker and Market Statisticsrelated/integrated lines such as X-ray equipment, electrocardiographs and CT scanners. Most major multinationals either have localoffices or distribute nationally using exclusive representatives.Please note: Report sections are periodically updated and some sections may have been updated more recently than the publicationdate given for the full report.More Information...MARKET OUTLOOKKey national data projectionsCurrent market sizeUnique 5-year market projectionsMarket outlookMarket structureIncluding statistical data on imports and exportsMarket accessIncluding distribution and medical device regulationHealthcare analysisIncluding demographics, healthcare system, health expenditure, healthcare infrastructure and personnelHEALTHCARE DATAA comprehensive tabula review of the market, including economic indicators, demographics, health expenditure, hospital and primarycare data, and healthcare personnel.DISTRIBUTORSDetails of the medical equipment distributors held in Espicoms database at the time of publication. Table of ContentContentsEXECUTIVE SUMMARY .. 1Introduction 2Medical Market Overview ... 2Market Access Overview .... 2Healthcare Overview 3The Medical Device Market: Venezuela Page 2/7
  3. 3. Find Industry reports, Company profilesReportLinker and Market StatisticsPolitical Overview 4Economic Overview .. 4Medical Market Analysis 6Current Size ... 6Consumables 7Diagnostic Imaging Apparatus .... 7Dental Products .. 7Orthopaedic & Implantable Products .... 7Others . 7Projections 9Consumables 9Diagnostic Imaging Apparatus .... 9Dental Products .. 9Orthopaedic & Implantable Products .... 9Others . 9Outlook .... 11Imports .... 14Consumables ... 15Diagnostic Imaging Apparatus .. 15Dental Products 15Orthopaedic & Implantable Products .. 15Others .... 15Domestic Manufacturing .. 23Trade Association . 23CAFAME .. 23Trade Shows .... 23EXPODENA .. 23EXPOMÉDICA INTERNACIONAL ... 23Local Manufacturers ... 24AGA Gas . 24Bligsen Electronics . 24Dental Aldana .... 24Descart Industries ... 24Ingeniería Médica ... 24La Vasconia .. 24MEDINCA 24OXICAR ... 25PIEMCA ... 25Sulcagel ... 25Exports .... 26Research & Development 28Public Research .... 28Market Access Analysis .... 29Distribution ... 29Trade Association . 29AVEDEM . 29Medical Device Regulations .. 32Registration . 32Labelling . 33Taxes & Duties . 33The Medical Device Market: Venezuela Page 3/7
  4. 4. Find Industry reports, Company profilesReportLinker and Market StatisticsCurrency Exchange Controls 34Healthcare Analysis . 35Demographics ... 35Population ... 35Birth Rate . 36Death Rate ... 36Infant Mortality ... 36Life Expectancy at Birth .... 36Public Health .... 36Causes of Death 36Incidence of Communicable Diseases .. 36Vaccination ... 37Healthcare System . 38MPPS 38IVSS .. 39Metropolitan Public Health System 39Health Expenditure 40Healthcare Infrastructure . 41Hospital Resources .... 41Barrio Adentro III .... 42Barrio Adentro IV .... 43Milagro Mission .. 43Inpatient Analysis .. 43Ambulatory Resources .... 44Barrio Adentro I . 44Barrio Adentro II 45Ambulatory Activity 45Healthcare Personnel . 46MPPS Personnel ... 47Barrio Adentros Medical Personnel . 47IVSS Medical Personnel .. 47DIRECTORY ... 48Government Organisations ... 48Professional Bodies/Trade Associations .... 48Trade Code Classifications .... 50Methodology.. 52Sources 52List of TablesSummary of Key Data Projections, 2010-2015 5Summary of the Venezuelan Market of Medical Equipment & Supplies, 2010 .... 6Historic Market Estimates, 2004-2007 (US$ millions) .... 8Market Projections of Medical Equipment & Supplies, 2010-2015 ... 9Market Projections of Medical Equipment & Supplies by Product Area, 2008-2015 (US$ Millions)10Per Capita Projections of Medical Equipment & Supplies by Product Area, 2008-2015 (US$) . 10Projected Market Share of Medical Equipment & Supplies by Product Area, 2008-2015 (%) ... 11Espicom Analysis of the Venezuelan Medical Market, 2010 . 12SWOT Analysis of the Venezuelan Medical Market, 2010 13Imports of Medical Equipment & Supplies by Product Area, 2004-2008 (US$000s) ... 16The Medical Device Market: Venezuela Page 4/7
  5. 5. Find Industry reports, Company profilesReportLinker and Market StatisticsImports of Medical Equipment & Supplies by Product Area, 2004-2008 (%) 16Change in Imports of Medical Equipment & Supplies by Product Area, 2005-2008 (%) .. 17Leading Suppliers of Medical Equipment & Supplies by Product Area, 2008 (US$000s) .... 18Leading Suppliers of Medical Equipment & Supplies by Product Area, 2008 (%) . 18Imports of Medical Equipment & Supplies, 2004-2008 (US$000s) .. 19Import Trends of Medical Equipment & Supplies, 2007-08 (US$000s) 20Leading Suppliers of Medical Equipment & Supplies, 2008 (US$000s) ... 21Leading Suppliers of Medical Equipment & Supplies by Category, 2008 (US$000s) . 22Exports of Medical Equipment & Supplies, 2004-2008 (US$000s) .. 27Members of AVEDEM, 2009 ... 29Foreign Exchange Authorisations for the Health Sector by Type, 2007-2008 (US$ Million) 34Foreign Exchange Authorisations for the Health Sector by Origin, 2007-2008 (US$ Million) ... 34Foreign Exchange Authorisations for the Health Sector, 2006-2007 (US$ Million) 34Projected Population, 2010-2015 35Summary of Demographic Data, 2008.. 35Projected Health Expenditure, 2010-2015 . 40Ministry of Healths Budget, 1998-2008 40Hospitals & Beds .... 41Hospital Bed Projections, 2010-2015 ... 42Projected Number of Physicians, 2010-2015 . 46HS Trade Codes Used in This Report .. 50HS Trade Codes, Rearranged 51List of FiguresVenezuelan Market of Medical Equipment & Supplies by Category, 2010 (%) .... 8Radar Graph of the Venezuelan Medical Market, 2010 13Imports of Medical Equipment & Supplies, 1990-2008 (US$ Millions) 14Change in Imports of Medical Equipment & Supplies, 1991-2008 (%) 14Imports of Medical Equipment & Supplies by Product Area, 2008 (%) .... 16CAGR of Imports of Medical Equipment & Supplies by Product Area, 2004-2008 (%) .... 17Leading Suppliers of Medical Equipment & Supplies, 2008 (%) 18Exports of Medical Equipment & Supplies, 1990-2008 (US$ 000s) . 26The Medical Device Market: Venezuela Page 5/7
  6. 6. Find Industry reports, Company profilesReportLinker and Market Statistics Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to: Europe, Middle East and Africa : + 33 4 37 37 15 56 Asia, Oceania and America : + 1 (805) 617 17 93 If you have any questions please visit http://www.reportlinker.com/notify/contact Order Information Please verify that the product information is correct and select the format(s) you require. The Medical Device Market: Venezuela Product Formats Please select the product formats and the quantity you require. 1 User License--USD 929.69 Quantity: _____ Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: _____________________________ Last Name: __________________________________ Email Address: __________________________________________________________________________ Job Title: __________________________________________________________________________ Organization: __________________________________________________________________________ Address: __________________________________________________________________________ City: __________________________________________________________________________ Postal / Zip Code: __________________________________________________________________________ Country: __________________________________________________________________________ Phone Number: __________________________________________________________________________ Fax Number: __________________________________________________________________________The Medical Device Market: Venezuela Page 6/7
  7. 7. Find Industry reports, Company profilesReportLinker and Market Statistics Payment Information Please indicate the payment method, you would like to use by selecting the appropriate box. Payment by credit card Card Number: ______________________________________________ Expiry Date __________ / _________ CVV Number _____________________ Card Type (ex: Visa, Amex…) _________________________________ Payment by wire transfer Crédit Mutuel RIB : 10278 07314 00020257701 89 BIC : CMCIFR2A IBAN : FR76 1027 8073 1400 0202 5770 189 Payment by check UBIQUICK SAS 16 rue Grenette – 69002 LYON, FRANCE Customer signature:   Please note that by ordering from Reportlinker you are agreeing to our Terms and Conditions at http://www.reportlinker.com/index/terms Please fax this form to: Europe, Middle East and Africa : + 33 4 37 37 15 56 Asia, Oceania and America : + 1 (805) 617 17 93The Medical Device Market: Venezuela Page 7/7

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