Panama - Medical EquipmentPanama - Medical Equipment
Unit: USD Millions
|Total Market Size||98.0||108.0||118.0||130.0|
|Total Local Production||0.0||0.0||0.0||0.0|
|Imports from the U.S.||54.0||59.0||64.0||72.0|
Note: The above statistics are unofficial estimates.
The medical equipment market in Panama continues to be strong, a result of an increased demand by the public sector and spurred on by new hospital and clinic projects and increased number of employees registered in the national social security system. The Panamanian economy has continued to grow, and unemployment has reached historic low levels. Government spending represents more than 60% of the national market for medical equipment.
Private hospitals, while not demonstrating the same growth levels, have maintained a stable demand, as they frequently renew equipment and facilities in order to remain competitive in a dynamic market. Many Panamanian doctors have been trained in the U.S. and are very familiar with U.S. equipment and medical practices. Most large, private hospitals are affiliated with U.S. hospitals and health organizations. However, competition from Europe and Asia has increased as those countries have implemented aggressive financing and marketing practices.
Sub-Sector Best Prospects
Best prospects include electro medical equipment, monitoring equipment, imaging equipment and laboratory equipment.
The Ministry of Health is expected to continue developing a strong program of hospital and clinic construction projects, started during the previous administration. Panama’s Caja de Seguro Social (Social Security organization) is expected to continue building a new metropolitan medical facility in Panama City (Ciudad Hospitalaria), a contentious project that was undertaken by the previous administration. Additionally, the University of Panama announced the construction of a new facility for medical training. All of these projects will have a significant impact on the demand for medical equipment.
- Ministry of Health: http://minsa.gob.pa
- Caja del Seguro Social: http://css.org.pa
- American Chamber of Commerce in Panama: http://www.panamcham.com
- Panama Chamber of Commerce: http://www.panacamara.com
- Expocomer (Commercial Trade Show): http://www.expocomer.com
Panama Medical Devices Trade Development and Promotion