Latin America has become one of the fastest growing medical device markets due to the high amount of medical OEMs and suppliers entering the area for cost advantages. Chris Wiltz, of mddionline.com, reports that the areas medical technology market is already worth $10.5 billion and is on a path to reach $20 billion in 2015. Latin America offers an area of skilled workers, a large customer base, and an even larger budding economy. As the graph below shows, the exponential growth has led to a combined GDP per capita that is over 10,000 times as large as the economy. Where do you think the ceiling is for MedTech in Latin America? Read the full article here.
