Colombia,
October 2017
With steady GDP growth, political stability and the best healthcare system in Latin America, Colombia’s life sciences industry has all the ingredients for success laid out before it. Indeed, with the domestic pharmaceutical market set to grow at a rate of around 7.3 percent and reach a USD 7.1 billion valuation by 2020, coupled with a booming medical device market set to reach USD 1.8 billion in the same time frame, Colombia is carving out a name for itself as the new place to be.
This report features interviews with the representatives of numerous multinational companies eager to capitalize on this favourable scenario and ramp up their footprint in Colombia; not only merely in terms of establishing local affiliates but also opening regional headquarters and implanting managerial functions, partly due to the lack of ‘local content’ restrictions seen elsewhere in Latin America.
With steady GDP growth, political stability and the best healthcare system in Latin America, Colombia’s life sciences industry has all the ingredients for success laid out before it. Indeed, with the domestic pharmaceutical market set to grow at a rate of around 7.3 percent and reach a USD 7.1 billion valuation by 2020, coupled with a booming medical device market set to reach USD 1.8 billion in the same time frame, Colombia is carving out a name for itself as the new place to be.
This report features interviews with the representatives of numerous multinational companies eager to capitalize on this favourable scenario and ramp up their footprint in Colombia; not only merely in terms of establishing local affiliates but also opening regional headquarters and implanting managerial functions, partly due to the lack of ‘local content’ restrictions seen elsewhere in Latin America.
