In 2016 the export of cosmetic, dental, cardiovascular, and endoscopy goods and others generated revenues of $2.556 billion, equivalent to 26% of the total exported by the country.
The export value of manufactured medical and precision equipment exceeded $2.5 billion, almost matching exports reported by the agricultural sector, which totaled $2.69 billion last year.
With an investment of $55 million the global company Smith and Nephew has started operating a new plant in Alajuela for manufacturing orthopedic devices.
From a press release issued by Smith Nephew:
British company expands operations in Costa Rica and expects to create up to 250 additional jobs for the next two years.
In Costa Rica 206 domestic and foreign enterprises provide supplies to the medical device manufacturing companies operating in the country.
Specialized cleaning services, packaging and bottling and even microbiological testing services are some of the things provided by companies that have found in the medical device industry that operates in Costa Rica an opportunity to develop a business.
In the 2017 budget approved for the Costa Rican Social Security Department an additional $270 million has been allocated for drugs, and $95 million for infrastructure.
From a statement issued by the Costa Rican Social Security Department (CCSS):
The Board of Directors of the Costa Rican Social Security Department (CCSS) approved on Thursday, the institution's budget for 2017 in the amount of ¢3.4 billion
Medical products and services, and pharmaceutical and technological hospital equipment, and will be exhibited from September 23 to 24 in the Atlapa Convention Center.
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP):
Panama, September 21, 2016.The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP), with support from the Ministry of Health (MOH) and the Social Security Department (CSS) is organizing EXPOMÉDICA, "Exhibition on Medical Health, Beauty, Nutrition, Sports & Wellness" on September 23 and 24 in the Atlapa Convention Center, to promote medical services, and products for health, beauty and healthy lifestyles.
From October 9 to 10 representatives of medical device manufacturers will be taking part in an international forum in San Jose.
From a statement issued by the CINDE:
San Jose, 14 September 2016.Costa Rica will be hosting the third edition of the biggest Latin American forum in the field of Life Sciences, which is the Life Sciences Forum Costa Rica 2016, organized by the Costa Rican Coalition for Development Initiatives (CINDE), the agency in charge of attracting foreign investment to the country.
Edwards Lifesciences Corporation has announced it is to build a heart valve production plant in Cartago which will start operating in early 2017.
From a statement issued by the Ministry of Foreign Trade:
The company Edwards Lifesciences Corporation, a global leader in innovations designed to address heart disease and monitor patients in critical condition today announced that it has chosen Costa Rica as the country in which to expand its production network of heart valves, with an investment of $10 million (around ₡5 billion).
The Costa Rican Department of Social Security is putting out to tender a supply of prostheses and several complete systems.
Costa Rica Government Purchase 2016LN-000011-05101:
"Details of medical supplies and quantities required:
-Complete primary total uncemented hip replacement system (672 units required).
-Complete revision surgery system for total hip replacement (132 units required).
There are 27 manufacturers of medical and pharmaceutical products operating under the free zone regime, and they buy 80% of inputs and raw materials from the international market.
From the executive summary of a study entitled "Dominican Republic: Opportunities for the supply of inputs in the medical device industry" by PROCOMER:
For those who supply the medical device industry in CR, opportunities to do the same in the Dom.
The permanent birth control device is being manufactured in the new plant that Bayer Medical started up in 2014, after making an investment of $12 million.
The plant began operating after the German company bought the assets of Conceptus, which included a patent for an inter-uterine contraceptive device to be manufactured in Costa Rica.
The company expects to produce 100,000 devices this year and increase production to 160,000 in 2016, for export to various international markets, including the United States, Canada and Europe. "
It has been reported that 63 foreign companies operate facilities for manufacturing medical supplies and devices in areas such as neuromodulation, dentistry, cardiovascular, orthopedics and endoscopy.
At the end of 2014 exports of medical devices totaled $1.9 billion, ie 19% more than reported in 2013. It is estimated that the manufacture of these products brings an estimated $0.55 of value added for each dollar exported.
The purchase by the German company of the assets of Conceptus include a Patent for an intertubal contraceptive device which will go into production at the Metropolitan Free Zone in Heredia.
Bayer announced that the plant will be producing a new permanent birth control device. The first stage of the plant has been in operation since October 2014, dedicated to assembly and other tasks in the manufacturing process, but the product has not yet been marketed or exported because it is now in the certification stage.
Growth was seen in sales of pineapple, medical devices and food preparations, while there were less exports of coffee, electric cables and integrated circuits.
Sales of gold coffee abroad fell by 4.3%, medical prostheses by 7.8%, electrical cables by 9% and finally integrated circuits reported a decrease of 29.4%.
Crhoy.com reports that "... Among the other "Top 10" products were two agricultural exports: pineapple and bananas.
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