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The Medical Device Market: Chile
Espicom Business Intelligence Ltd, Sep 2009, Pages: 112
This in-depth medical device market report is 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.
Executive Summary
With a population of 16.9 million in 2009, Chile is one of the smaller countries in South America. Around 40% of the population live in and around the capital, Santiago. The country has made a successful transition to democracy following the retirement of General Pinochet in 1989.
Whilst the Chilean medical market for medical equipment and supplies, at US$334 million in 2009, is small by international standards, at a per capita level it is the second highest in South America, behind only Brazil. Chile is one the region’s better economic performers, with GDP per capita of US$9,010 in 2009. In Latin America, only oil-rich Venezuela has a larger figure. Chile has generally avoided regional trading blocs such as Mercosur, preferring bilateral agreements such as its Free Trade Agreement with the USA.
As in much of Latin America, healthcare provision is a complex mixture of public, private and social insurance, although the current government is implementing plans aimed at creating a more efficient public system. Chile has a relatively well-developed system of private health insurance, the ISAPRE system, although this has been hit financially in recent years. The Isapre system has come under criticism lately for treating patients unequally. The government plans to simplify it and make it fairer for all.
Chile produces very little medical equipment, so the market is largely supplied by imports, with a US$330 million balance of trade deficit in 2007. The USA is the dominant supplier, accounting for 40% of imports each year. The European Union supplies a further 25-30%, of which Germany accounts for half. In 2009, the government will activate a US$4 billion economic recovery package as a reaction to global financial problems. This will include spending US$700 million on public works and tax incentives for SME’s as well as subsidies for low income families.
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