Navigation Links
Medical Device Market: Peru & Philippines New Market Research Report Available At

Albany, NY (PRWEB) April 21, 2013

Peru is often overlooked when discussing the rapid-growth economies of South America. While it has neither the size nor the wealth of Brazil or Argentina, the country has recorded strong economic growth in recent years, except in 2009, when economic growth was very modest, reflecting global economic issues. Between 2012 and 2017, GDP is expected to rise every year, reaching a projected US$286.5 billion in 2017. Per capita wealth has risen, especially in and around Lima. This has led to the emergence of a sizeable urban population which demands improved healthcare, and increasingly has the ability to pay for it. Per capita GDP is projected to rise from US$6,530 in 2012 to US$8,838 in 2017.

The Peruvian 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. In 2012, the market is estimated at US$311.7 million, equal to US$10.1 per capita. Diagnostic imaging apparatus accounts for 30.8% of the market, followed by consumables (19.6%), patiend aids (6.9%), orthopaedic & prosthetic products (6.5%), dental products (6.4%) and othe medical products (29.7%). The 2012-17 CAGR for the medical device market is projected at 15.6% in US dollar terms.

Peru produces very little medical equipment, so the vast majority of the market is supplied by imports. Medical device imports increased by 14.3% in US dollar terms in the 12 months to March 2012, reaching US$269.6 million. Growth was strong for patient aids, orthopaedic & prosthetic products and other medical products, which registered rises of 40.6%, 35.8% and 25.5% in US dollar terms, respectively.Growth was moderate for consumables, diagnostic imaging apparatus and dental products, which recorded rises of 7.5%, 3.8% and 3.1% in US dollar terms, respectively.

Buy Copy Of This Report@

The Philippines' medical device market( is expected to grow at a solid 8.8% in the medium term. This growth will be spearheaded by the growth of imports, health expenditure, the private sector and medical tourism.

The Philippines has a history of political instability. The current ruling administration has had its fair share of controversy. The highly devolved health sector makes it difficult to stamp out corruption and other bureaucratic problems.

Medical device spending is around US$3 per capita in 2012, similar to that in Vietnam and China. The Philippines has some domestic capacity to produce basic hospital items, but the majority of the market is supplied by imports. Private hospitals in Manila represent the best prospects for suppliers.

The government plans to achieve universal healthcare by 2016. One of the steps taken to achieve this goal has been the widening of health insurance membership coverage. Since 2011, the government has paid for the health insurance membership (PhilHealth scheme) of 5.3 million of the poorest families, equal to around 25 million people, as identified by the National Household Targeting System for Poverty Reduction Poverty Reduction of the Department of Social Welfare and Development. Families identified under this scheme are except from balance-billing (exempt from paying the difference between the insurance payout and the hospital bill) when they are admitted in any government hospital.

Buy Copy Of This Report@

Find More Reports By:

About Us is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports.Contact for More Details: sales(at)researchmoz(dot)us

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Medical Robotic Systems Market - New Market Research Report Published by Transparency Market Research
2. Conventus Offers Five-point Checklist & Analysis for Good Medical Liability Insurance
3. New York Medical Malpractice Lawyer David Perecman Urges Surgical Patients to Question Use of da Vinci System Surgical Robot
4. Fluoropharma Medical To Present At Taglich Brothers 10th Annual Small Cap Equity Conference
5. New QuickMedical Facility Offers More Products and Enhanced Service
6. Launches New Bath Lifts Category
7. Magnet hospitals achieve lower mortality, reports Medical Care
8. Physician entrepreneurs are key contributors to new medical devices
9. Dr. Buckingham of Buckingham Center for Facial Plastic Surgery Re-Elected as Texas Medical Association Delegate
10. Automated Security Alert's New Medical Alarm Systems Provide A Variety Of Help
11. Christopher Jayne, M.D., Receives InTone Specialist Certification To Treat Female Urinary Incontinence From InControl Medical, LLC
Post Your Comments:
(Date:11/25/2015)... ... 25, 2015 , ... On November 10, 2015, Bohrer Brady, LLC filed a ... behalf of a home health care worker who provided companionship services for the elderly, ... workers employed by Humana, Inc., Humana at Home, Inc., and SeniorBridge Family Companies (CT), ...
(Date:11/25/2015)... ... November 25, 2015 , ... According to an article published November ... more widely heralded as a breakthrough for performing hernia repairs. The article explains that ... surgery is that it can greatly reduce the pain that a patient might otherwise ...
(Date:11/25/2015)... OH (PRWEB) , ... November 25, 2015 , ... Dental ... implants in Cleveland, OH , are invited to attend Dr. Mark Iacobelli’s Advanced Implant ... this year in Cleveland, OH. , As the co-founders of Advanced Implant Mentoring ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... athletic programs, launches new Wimbledon Athletics Facebook page to educate the ... for unsuspected cardiac abnormalities. About 2,000 people under the age of 25 die ...
(Date:11/25/2015)... ... November 25, 2015 , ... On November 23rd 2015 Cozy Products, ... personal heating products business. Cozy Products explains what this means for business moving forward. ... with the Cozy Products business model: to sell personal heaters that reduce energy consumption, ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... PUNE, India , November 26, ... --> --> ... Research Report" and "Investigation Report on ... 2019 and 2021 forecasts data and ... library. . ...
(Date:11/26/2015)... , Nov. 26, 2015 Research ... addition of the "2016 Future Horizons and ... (TDM) Market: Supplier Shares, Country Segment Forecasts, Competitive ... --> --> ... analysis of the Italian therapeutic drug monitoring market, ...
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... European Cell Surface Marker Testing Market: ...  report to their offering.  --> ... addition of the  "2016 Future Horizons ...
Breaking Medicine Technology: